Mamaroneck Town, New York Median Household Income By Age

Mamaroneck Town, New York 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 Mamaroneck town population by age, the median age in Mamaroneck town is 40.1 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 Mamaroneck town, the age group of 25 to 44 years also exhibits the highest median household income, recorded at $236,985.

In terms of income distribution across age cohorts, in Mamaroneck town, the median household income stands at $236,985 for householders within the 25 to 44 years age group, followed by $208,447 for the 45 to 64 years age group. Notably, householders within the 65 years and over age group, had the lowest median household income at $106,545.

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 Mamaroneck town.

FIGURE 1

Mamaroneck Town, New York median household income by age of householder

It offers a clear illustration of the differences in median household incomes in Mamaroneck town, 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 $65,790(38.43%), escalating from a median of $171,195 in 2012 to $236,985 in 2022. Conversely, the age group of 45 to 64 years years witnessed the smallest growth in household income across the same span. Their median income saw a small increase of $1,960(0.95%), increasing from a median of $206,487 in 2012 to $208,447 in 2022.

Mamaroneck Town, New York household income distribution across age groups

To gain a comprehensive understanding of the financial landscape within the Mamaroneck town 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, 3,673(33.17%) households with a householder aged between 25 and 44 years, 4,417(39.89%) households with a householder aged between 45 and 64 years, and 2,983(26.94%) 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 45 to 64 years bracket. This distribution hints at economic disparities within the town of Mamaroneck town, showcasing varying income levels among different age demographics.

FIGURE 2

Mamaroneck Town, New York household income distribution across age groups

Household income distribution across 16 income brackets among four distinct age groups in Mamaroneck town: 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 Mamaroneck town when compared to the state of New York 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 Mamaroneck town, 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 Mamaroneck town, among households headed by individuals aged 25 to 44, an impressive 82.47% match or surpass the state of New York median income of $84,743. These 3,029 households, represent a significant portion of the total 3,673 households in Mamaroneck town within 25-44 years age group, reflecting commendable financial well-being within the state boundaries.
• Householder 45 to 64 years: In Mamaroneck town, within the age group of 45 to 64 years, a remarkable 80.03% of households meet or exceed the state of New York median income of $84,743. These 3,535 households, out of the total 4,417 households in this age cohort, signify a substantial portion of mature demographic of Mamaroneck town, showcasing commendable financial stability in comparison to the New York state median income benchmark.
• Householder 65 years and over: In Mamaroneck town, among the over 65 years age group, an impressive 63.06% of households either match or surpass the state of New York median income of $84,743. These 1,881 households, constituting a significant portion of the Mamaroneck town town senior population, showcase commendable financial stability compared to the New York state median income benchmark.

Things to know

Which age group reports the highest median household income in Mamaroneck Town, New York?

In Mamaroneck town, households led by individuals aged 25 to 44 years report the highest median household income of $236,985 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 Mamaroneck Town, New York?

In terms of income distribution across age cohorts, in Mamaroneck town, the median household income stands at $236,985 for householders within the 25 to 44 years age group, followed by $208,447 for the 45 to 64 years age group. Notably, householders within the 65 years and over age group, had the lowest median household income at $106,545..

How does the median household income for households led by individuals of median age compare in Mamaroneck Town, New York?

The median age in Mamaroneck town is 40.1, 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 Mamaroneck town, the age group of 25 to 44 years also exhibits the highest median household income, recorded at $236,985.

References

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