Lebanon Junction, KY Median Household Income By Age

Lebanon Junction, KY 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 Lebanon Junction population by age, the median age in Lebanon Junction is 42.7 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 Lebanon Junction, the age group of 25 to 44 years exhibited the second-highest median household income, recorded at $60,773.

In terms of income distribution across age cohorts, in Lebanon Junction, householders within the 45 to 64 years age group have the highest median household income at $63,342, followed by those in the 25 to 44 years age group with an income of $60,773. Meanwhile householders within the under 25 years age group report the second lowest median household income of $34,817. Notably, householders within the 65 years and over age group, had the lowest median household income at $28,310.

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 Lebanon Junction.

FIGURE 1

Lebanon Junction, KY median household income by age of householder

It offers a clear illustration of the differences in median household incomes in Lebanon Junction, 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 four age groups with available Census data in both 2012 and 2022, none had an increase in this time period. Notably, household income for individuals within the 25 to 44 years age group demonstrated the smallest decline of $3,685(5.72%), declining from a median of $64,458 in 2012 to $60,773 in 2022. Conversely, the age group of 45 to 64 years years witnessed the most significant decline in household income across the same span. Their median income saw a substantial drop of $11,871(15.78%), declining from a median of $75,213 in 2012 to $63,342 in 2022.

Lebanon Junction, KY household income distribution across age groups

To gain a comprehensive understanding of the financial landscape within the Lebanon Junction 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 31(3.57%) households where the householder is under 25 years old, 235(27.04%) households with a householder aged between 25 and 44 years, 358(41.20%) households with a householder aged between 45 and 64 years, and 245(28.19%) households where the householder is over 65 years old.

In Lebanon Junction, 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

Lebanon Junction, KY household income distribution across age groups

Household income distribution across 16 income brackets among four distinct age groups in Lebanon Junction: 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 Lebanon Junction when compared to the state of Kentucky 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 Lebanon Junction, where householders are under 25 years old, fall within or exceed the income bracket representing the median income of $62,666 for the state of Kentucky. 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 Lebanon Junction, among households headed by individuals aged 25 to 44,worth noting that 46.38% match or surpass the state of Kentucky median income of $62,666. These 109 households, represent a notable portion of the total 235 households in Lebanon Junction within 25-44 years age group, reflecting commendable financial well-being within the state boundaries.
• Householder 45 to 64 years: In Lebanon Junction, within the age group of 45 to 64 years, a remarkable 50.28% of households meet or exceed the state of Kentucky median income of $62,666. These 180 households, out of the total 358 households in this age cohort, signify a substantial portion of mature demographic of Lebanon Junction, showcasing commendable financial stability in comparison to the Kentucky state median income benchmark.
• Householder 65 years and over: In Lebanon Junction, among the over 65 years age group, a noteworthy 26.12% of households either match or surpass the state of Kentucky median income of $62,666. These 64 households, constituting notable portion of the Lebanon Junction city senior population, showcase commendable financial stability compared to the Kentucky state median income benchmark.

Things to know

Which age group reports the highest median household income in Lebanon Junction, KY?

In Lebanon Junction, households led by individuals aged 45 to 64 years report the highest median household income of $63,342 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 Lebanon Junction, KY?

In terms of income distribution across age cohorts, in Lebanon Junction, householders within the 45 to 64 years age group have the highest median household income at $63,342, followed by those in the 25 to 44 years age group with an income of $60,773. Meanwhile householders within the under 25 years age group report the second lowest median household income of $34,817. Notably, householders within the 65 years and over age group, had the lowest median household income at $28,310..

How does the median household income for households led by individuals of median age compare in Lebanon Junction, KY?

The median age in Lebanon Junction is 42.7, 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 Lebanon Junction, the age group of 25 to 44 years exhibited the second-highest median household income, recorded at $60,773.

References

Notes