Krotz Springs, LA Median Household Income By Age

Krotz Springs, LA median household income by age of householder

As one can expect, household incomes typically rise as the head of the household gets older. However, this upward trend reaches a peak at a certain point, and beyond that, it tends to level off or even decrease. Based on our analysis of the distribution of Krotz Springs population by age, the median age in Krotz Springs is 35.5 years.

Typically for a location with median age in this range, it suggests a dynamic mix of young professionals, often indicative of family formation and career advancement. Interestingly, within Krotz Springs, the age group of 25 to 44 years exhibited the second-highest median household income, recorded at $42,789.

In terms of income distribution across age cohorts, in Krotz Springs, where there exist only two delineated age groups, the median household income is $120,140 for householders within the 45 to 64 years age group, compared to $42,789 for the 25 to 44 years age group.

For a better visual representation of these income disparities, refer to the bar chart below. It offers a clear illustration of the differences in median household incomes based on the age of householders, derived from most current ACS data provided by the Census Bureau for the town of Krotz Springs.

FIGURE 1

Krotz Springs, LA median household income by age of householder

It offers a clear illustration of the differences in median household incomes in Krotz Springs, based on the age of householders divided into four cohorts : Under 25 years, 25 - 44 years, 45 to 64 years and 65 years and over.

Analysis of income trends over the past decade highlights notable shifts across various age groups. Among the two age groups with available Census data in both 2012 and 2022, none had a decline during this time period. Notably, household income for individuals within the 45 to 64 years age group demonstrated a remarkable increase of $65,531(120%), escalating from a median of $54,609 in 2012 to $120,140 in 2022. Conversely, the age group of 25 to 44 years years witnessed the smallest growth in household income across the same span. Their median income saw a small increase of $19,603(84.55%), increasing from a median of $23,186 in 2012 to $42,789 in 2022.

Krotz Springs, LA household income distribution across age groups

To gain a comprehensive understanding of the financial landscape within the Krotz Springs population, we conducted an analysis of household incomes across 16 distinct brackets within four age cohorts: under 25 years, 25 to 44 years, 45 to 64 years, and over 65 years.

Upon closer examination of the distribution of households among age brackets, it reveals that there are 9(2.55%) households where the householder is under 25 years old, 140(39.66%) households with a householder aged between 25 and 44 years, 130(36.83%) households with a householder aged between 45 and 64 years, and 74(20.96%) households where the householder is over 65 years old.

The age group of 45 to 64 years exhibits the highest median household income, while the largest number of households falls within the 25 to 44 years bracket. This distribution hints at economic disparities within the town of Krotz Springs, showcasing varying income levels among different age demographics.

FIGURE 2

Krotz Springs, LA household income distribution across age groups

Household income distribution across 16 income brackets among four distinct age groups in Krotz Springs: under 25 years, 25-44 years, 45-64 years, and over 65 years

To further explore the income distribution and gain insights into financial landscape of Krotz Springs when compared to the state of Louisiana and The United States, we analyzed household incomes across various age cohorts and their corresponding income brackets. Here, are our key findings:

• Householder under 25 years: It is noteworthy that no households in Krotz Springs, where householders are under 25 years old, fall within or exceed the income bracket representing the median income of $60,238 for the state of Louisiana. This indicates an income disparity among households headed by individuals under 25 years old when compared to the median income of the state.
• Householder 25 to 44 years: In Krotz Springs, among households headed by individuals aged 25 to 44,worth noting that 43.57% match or surpass the state of Louisiana median income of $60,238. These 61 households, represent a notable portion of the total 140 households in Krotz Springs within 25-44 years age group, reflecting commendable financial well-being within the state boundaries.
• Householder 45 to 64 years: In Krotz Springs, within the age group of 45 to 64 years, a remarkable 61.54% of households meet or exceed the state of Louisiana median income of $60,238. These 80 households, out of the total 130 households in this age cohort, signify a substantial portion of mature demographic of Krotz Springs, showcasing commendable financial stability in comparison to the Louisiana state median income benchmark.
• Householder 65 years and over: In Krotz Springs, among the over 65 years age group, only 9.46% of households either match or surpass the state of Louisiana median income of $60,238. These 7 households, constituting low portion of the Krotz Springs town senior population, showcase commendable financial stability compared to the Louisiana state median income benchmark.

Things to know

Which age group reports the highest median household income in Krotz Springs, LA?

In Krotz Springs, households led by individuals aged 45 to 64 years report the highest median household income of $120,140 according to the American Community Survey 2018-2022 5-Year Estimates by the US Census Bureau.

How does the median household income vary by age in Krotz Springs, LA?

In terms of income distribution across age cohorts, in Krotz Springs, where there exist only two delineated age groups, the median household income is $120,140 for householders within the 45 to 64 years age group, compared to $42,789 for the 25 to 44 years age group..

How does the median household income for households led by individuals of median age compare in Krotz Springs, LA?

The median age in Krotz Springs is 35.5, which falls within the 25 to 44 years range among the four age groups defined by the US Census Bureau. This demographic suggests a dynamic mix of young professionals, often indicative of family formation and career advancement. Interestingly, within Krotz Springs, the age group of 25 to 44 years exhibited the second-highest median household income, recorded at $42,789.

References

Notes