Lewiston Woodville, NC Median Household Income By Age

Lewiston Woodville, NC 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 Lewiston Woodville population by age, the median age in Lewiston Woodville is 52 years.

Typically for a location with median age in this range, it tends to house more established professionals, possibly reflecting stable households and higher earning poptential. Interestingly, according to the latest American Community Survey data, the US Census Bureau did not report the median household income for householders in the 45 to 64 years age group in Lewiston Woodville. 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, Lewiston Woodville only reports a median household income of $58,570 among householders in 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 Lewiston Woodville.

FIGURE 1

Lewiston Woodville, NC median household income by age of householder

It offers a clear illustration of the differences in median household incomes in Lewiston Woodville, 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. Notably, household income for individuals within the 25 to 44 years age group demonstrated a remarkable increase of $42,138(256.44%), escalating from a median of $16,432 in 2012 to $58,570 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 $42,138(256.44%), increasing from a median of $16,432 in 2012 to $58,570 in 2022.

Lewiston Woodville, NC household income distribution across age groups

To gain a comprehensive understanding of the financial landscape within the Lewiston Woodville 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 0 households where the householder is under 25 years old, 40(20.83%) households with a householder aged between 25 and 44 years, 55(28.65%) households with a householder aged between 45 and 64 years, and 97(50.52%) households where the householder is over 65 years old.

The age group of 25 to 44 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 town of Lewiston Woodville, showcasing varying income levels among different age demographics.

FIGURE 2

Lewiston Woodville, NC household income distribution across age groups

Household income distribution across 16 income brackets among four distinct age groups in Lewiston Woodville: 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 Lewiston Woodville when compared to the state of North Carolina 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: In Lewiston Woodville, the comparison with the median income of the state and the nation remains inapplicable as there are no households headed by individuals under 25 years old.
• Householder 25 to 44 years: In Lewiston Woodville, among households headed by individuals aged 25 to 44,worth noting that 50% match or surpass the state of North Carolina median income of $68,916. These 20 households, represent a notable portion of the total 40 households in Lewiston Woodville within 25-44 years age group, reflecting commendable financial well-being within the state boundaries.
• Householder 45 to 64 years: In Lewiston Woodville, within the age group of 45 to 64 years, a noteworthy 38.18% of households meet or exceed the state of North Carolina median income of $68,916. These 21 households, out of the total 55 households in this age cohort, signify a notable portion of mature demographic of Lewiston Woodville, showcasing commendable financial stability in comparison to the North Carolina state median income benchmark.
• Householder 65 years and over: In Lewiston Woodville, among the over 65 years age group, a noteworthy 37.11% of households either match or surpass the state of North Carolina median income of $68,916. These 36 households, constituting notable portion of the Lewiston Woodville town senior population, showcase commendable financial stability compared to the North Carolina state median income benchmark.

Things to know

Which age group reports the highest median household income in Lewiston Woodville, NC?

In Lewiston Woodville, households led by individuals aged 25 to 44 years report the highest median household income of $58,570 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 Lewiston Woodville, NC?

In terms of income distribution across age cohorts, Lewiston Woodville only reports a median household income of $58,570 among householders in the 25 to 44 years age group..

How does the median household income for households led by individuals of median age compare in Lewiston Woodville, NC?

The median age in Lewiston Woodville is 52, which falls within the 45 to 64 years range among the four age groups defined by the US Census Bureau. This demographic tends to house more established professionals, possibly reflecting stable households and higher earning poptential. Interestingly, according to the latest American Community Survey data, the US Census Bureau did not report the median household income for householders in the 45 to 64 years age group in Lewiston Woodville. 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

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