Maggie Valley, NC Median Household Income By Age

Maggie Valley, 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 Maggie Valley population by age, the median age in Maggie Valley is 49 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, within Maggie Valley, the age group of 45 to 64 years exhibited the second-highest median household income, recorded at $64,585.

In terms of income distribution across age cohorts, in Maggie Valley, the median household income stands at $75,166 for householders within the 65 years and over age group, followed by $64,585 for the 45 to 64 years age group. Notably, householders within the 25 to 44 years age group, had the lowest median household income at $61,245.

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 Maggie Valley.

FIGURE 1

Maggie Valley, NC median household income by age of householder

It offers a clear illustration of the differences in median household incomes in Maggie Valley, 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, two groups encountered a decline in their median household income, while the remaining one experienced an increase during this period. Notably, household income for individuals within the 65 years and over age group demonstrated a remarkable increase of $15,629(26.25%), escalating from a median of $59,537 in 2012 to $75,166 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 $18,351(22.13%), declining from a median of $82,936 in 2012 to $64,585 in 2022.

Maggie Valley, NC household income distribution across age groups

To gain a comprehensive understanding of the financial landscape within the Maggie Valley 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 20(2.40%) households where the householder is under 25 years old, 167(20.07%) households with a householder aged between 25 and 44 years, 320(38.46%) households with a householder aged between 45 and 64 years, and 325(39.06%) households where the householder is over 65 years old.

In Maggie Valley, the age group of 65 years and over 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

Maggie Valley, NC household income distribution across age groups

Household income distribution across 16 income brackets among four distinct age groups in Maggie Valley: 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 Maggie Valley 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: It is noteworthy that no households in Maggie Valley, where householders are under 25 years old, fall within or exceed the income bracket representing the median income of $68,916 for the state of North Carolina. 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 Maggie Valley, among households headed by individuals aged 25 to 44,worth noting that 44.91% match or surpass the state of North Carolina median income of $68,916. These 75 households, represent a notable portion of the total 167 households in Maggie Valley within 25-44 years age group, reflecting commendable financial well-being within the state boundaries.
• Householder 45 to 64 years: In Maggie Valley, within the age group of 45 to 64 years, a remarkable 64.69% of households meet or exceed the state of North Carolina median income of $68,916. These 207 households, out of the total 320 households in this age cohort, signify a substantial portion of mature demographic of Maggie Valley, showcasing commendable financial stability in comparison to the North Carolina state median income benchmark.
• Householder 65 years and over: In Maggie Valley, among the over 65 years age group, an impressive 56.62% of households either match or surpass the state of North Carolina median income of $68,916. These 184 households, constituting a significant portion of the Maggie Valley 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 Maggie Valley, NC?

In Maggie Valley, households led by individuals aged 65 years and over report the highest median household income of $75,166 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 Maggie Valley, NC?

In terms of income distribution across age cohorts, in Maggie Valley, the median household income stands at $75,166 for householders within the 65 years and over age group, followed by $64,585 for the 45 to 64 years age group. Notably, householders within the 25 to 44 years age group, had the lowest median household income at $61,245..

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

The median age in Maggie Valley is 49, 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, within Maggie Valley, the age group of 45 to 64 years exhibited the second-highest median household income, recorded at $64,585.

References

Notes