Median Household Income by Age of Householder in Lathrop Township, Pennsylvania (2022, in 2023 inflation-adjusted dollars)
This table presents the distribution of median household income among distinct age brackets of householders in Lathrop township. Based on the latest 5-Year estimates from the American Community Survey, it displays how income varies among householders of different ages in Lathrop township.
| Age Of The Head Of Household | Median Household Income |
|---|---|
| Under 25 years | $65,078 |
| 25 to 44 years | - |
| 45 to 64 years | $115,351 |
| 65 years and over | $78,094 |
TABLE OF CONTENTS
Lathrop Township, Pennsylvania 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 Lathrop township population by age, the median age in Lathrop township is 41.9 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, according to the latest American Community Survey data, the US Census Bureau did not report the median household income for householders in the 25 to 44 years age group in Lathrop township. This absence could be attributed to a smaller working population or fewer household heads within this age range, potentially resulting in less reliable or unavailable data for reporting.
In terms of income distribution across age cohorts, in Lathrop township, the median household income stands at $115,351 for householders within the 45 to 64 years age group, followed by $78,094 for the 65 years and over age group. Notably, householders within the under 25 years age group, had the lowest median household income at $65,078.
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 township of Lathrop township.
FIGURE 1
Lathrop Township, Pennsylvania median household income by age of householder
It offers a clear illustration of the differences in median household incomes in Lathrop township, 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 Under 25 years age group demonstrated a remarkable increase of $61,745(1852.54%), escalating from a median of $3,333 in 2012 to $65,078 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 $44,197(130.39%), increasing from a median of $33,897 in 2012 to $78,094 in 2022.
Lathrop Township, Pennsylvania household income distribution across age groups
To gain a comprehensive understanding of the financial landscape within the Lathrop township 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 14(4.83%) households where the householder is under 25 years old, 71(24.48%) households with a householder aged between 25 and 44 years, 109(37.59%) households with a householder aged between 45 and 64 years, and 96(33.10%) households where the householder is over 65 years old.
In Lathrop township, the age group of 45 to 64 years stands out with both the highest median income and the maximum share of households. This alignment suggests a financially stable demographic, indicating an established community with stable careers and higher incomes.
FIGURE 2
Lathrop Township, Pennsylvania household income distribution across age groups
Household income distribution across 16 income brackets among four distinct age groups in Lathrop township: under 25 years, 25-44 years, 45-64 years, and over 65 years
Age-wise distribution of Lathrop township household incomes: Comparative analysis across 16 income brackets
Discover the household distribution across 16 income brackets among four distinct age groups in Lathrop township: Under 25 years, 25-44 years, 45-64 years, and over 65 years. This table highlights the variation in household income, offering valuable insights into economic trends and disparities within different age categories.
| Household Income Age of Householder | Under 25 years | 25 to 44 years | 45 to 64 years | 65 years and over |
|---|---|---|---|---|
| Less than $10,000 | - | 5 | 2 | 2 |
| $10,000 - $14,999 | - | 7 | - | - |
| $15,000 - $19,999 | 2 | - | - | 13 |
| $20,000 - $24,999 | - | - | 2 | 2 |
| $25,000 - $29,999 | - | 6 | 11 | 4 |
| $30,000 - $34,999 | - | - | 2 | 2 |
| $35,000 - $39,999 | - | - | 6 | - |
| $40,000 - $44,999 | - | 6 | 1 | 2 |
| $45,000 - $49,999 | 5 | - | - | 5 |
| $50,000 - $59,999 | - | - | 7 | 11 |
| $60,000 - $74,999 | - | 12 | 3 | 7 |
| $75,000 - $99,999 | 7 | 3 | 16 | 3 |
| $100,000 - $124,999 | - | 16 | 15 | 12 |
| $125,000 - $149,999 | - | 3 | 9 | 11 |
| $150,000 - $199,999 | - | 10 | 9 | 10 |
| $200,000 or more | - | 3 | 26 | 12 |
To further explore the income distribution and gain insights into financial landscape of Lathrop township when compared to the state of Pennsylvania 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 worth noting that 50% of the households in Lathrop township, where householders are under 25 years old, are either within or surpass the income bracket representing the median income of $76,188 for the state of Pennsylvania. These 7 Lathrop township households demonstrate a significant financial standing, aligning with or exceeding the median income of the state.
- Householder 25 to 44 years: In Lathrop township, among households headed by individuals aged 25 to 44,worth noting that 49.30% match or surpass the state of Pennsylvania median income of $76,188. These 35 households, represent a notable portion of the total 71 households in Lathrop township within 25-44 years age group, reflecting commendable financial well-being within the state boundaries.
- Householder 45 to 64 years: In Lathrop township, within the age group of 45 to 64 years, a remarkable 68.81% of households meet or exceed the state of Pennsylvania median income of $76,188. These 75 households, out of the total 109 households in this age cohort, signify a substantial portion of mature demographic of Lathrop township, showcasing commendable financial stability in comparison to the Pennsylvania state median income benchmark.
- Householder 65 years and over: In Lathrop township, among the over 65 years age group, a noteworthy 50% of households either match or surpass the state of Pennsylvania median income of $76,188. These 48 households, constituting notable portion of the Lathrop township township senior population, showcase commendable financial stability compared to the Pennsylvania state median income benchmark.
Things to know
Which age group reports the highest median household income in Lathrop Township, Pennsylvania?
In Lathrop township, households led by individuals aged 45 to 64 years report the highest median household income of $115,351 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 Lathrop Township, Pennsylvania?
In terms of income distribution across age cohorts, in Lathrop township, the median household income stands at $115,351 for householders within the 45 to 64 years age group, followed by $78,094 for the 65 years and over age group. Notably, householders within the under 25 years age group, had the lowest median household income at $65,078..
How does the median household income for households led by individuals of median age compare in Lathrop Township, Pennsylvania?
The median age in Lathrop township is 41.9, 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, according to the latest American Community Survey data, the US Census Bureau did not report the median household income for householders in the 25 to 44 years age group in Lathrop township. This absence could be attributed to a smaller working population or fewer household heads within this age range, potentially resulting in less reliable or unavailable data for reporting.
References
- U.S. Census Bureau American Community Survey (ACS) 2018-2022 5-Year Estimates
- Consumer Price Index retroactive series using current methods (R-CPI-U-RS)