Las Animas, CO Median Household Income By Age

Las Animas, CO 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 Las Animas population by age, the median age in Las Animas is 38.8 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 Las Animas, the age group of 25 to 44 years exhibited the second-highest median household income, recorded at $48,028.

In terms of income distribution across age cohorts, in Las Animas, the median household income stands at $48,218 for householders within the under 25 years age group, followed by $48,028 for the 25 to 44 years age group. Notably, householders within the 65 years and over age group, had the lowest median household income at $46,113.

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 city of Las Animas.

FIGURE 1

Las Animas, CO median household income by age of householder

It offers a clear illustration of the differences in median household incomes in Las Animas, 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 three 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 25 to 44 years age group demonstrated a remarkable increase of $14,238(42.14%), escalating from a median of $33,790 in 2012 to $48,028 in 2022. Conversely, the age group of 65 years and over years witnessed the smallest growth in household income across the same span. Their median income saw a small increase of $5,985(14.91%), increasing from a median of $40,128 in 2012 to $46,113 in 2022.

Las Animas, CO household income distribution across age groups

To gain a comprehensive understanding of the financial landscape within the Las Animas 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 77(7.43%) households where the householder is under 25 years old, 292(28.16%) households with a householder aged between 25 and 44 years, 298(28.74%) households with a householder aged between 45 and 64 years, and 370(35.68%) households where the householder is over 65 years old.

The age group of under 25 years exhibits the highest median household income, while the largest number of households falls within the 65 years and over bracket. This distribution hints at economic disparities within the city of Las Animas, showcasing varying income levels among different age demographics.

FIGURE 2

Las Animas, CO household income distribution across age groups

Household income distribution across 16 income brackets among four distinct age groups in Las Animas: 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 Las Animas when compared to the state of Colorado 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 only 23.38% of the households in Las Animas, where householders are under 25 years old, are either within or surpass the income bracket representing the median income of $91,212 for the state of Colorado. These 18 Las Animas households demonstrate a significant financial standing, aligning with or exceeding the median income of the state.
• Householder 25 to 44 years: In Las Animas, among households headed by individuals aged 25 to 44,worth noting that 27.40% match or surpass the state of Colorado median income of $91,212. These 80 households, represent a notable portion of the total 292 households in Las Animas within 25-44 years age group, reflecting commendable financial well-being within the state boundaries.
• Householder 45 to 64 years: In Las Animas, within the age group of 45 to 64 years, a noteworthy 27.18% of households meet or exceed the state of Colorado median income of $91,212. These 81 households, out of the total 298 households in this age cohort, signify a notable portion of mature demographic of Las Animas, showcasing commendable financial stability in comparison to the Colorado state median income benchmark.
• Householder 65 years and over: In Las Animas, among the over 65 years age group, only 10% of households either match or surpass the state of Colorado median income of $91,212. These 37 households, constituting low portion of the Las Animas city senior population, showcase commendable financial stability compared to the Colorado state median income benchmark.

Things to know

Which age group reports the highest median household income in Las Animas, CO?

In Las Animas, households led by individuals aged under 25 years report the highest median household income of $48,218 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 Las Animas, CO?

In terms of income distribution across age cohorts, in Las Animas, the median household income stands at $48,218 for householders within the under 25 years age group, followed by $48,028 for the 25 to 44 years age group. Notably, householders within the 65 years and over age group, had the lowest median household income at $46,113..

How does the median household income for households led by individuals of median age compare in Las Animas, CO?

The median age in Las Animas is 38.8, 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 Las Animas, the age group of 25 to 44 years exhibited the second-highest median household income, recorded at $48,028.

References

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