Mathews County, VA Median Household Income By Age

Mathews County, VA 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 Mathews County population by age, the median age in Mathews County is 53.7 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 Mathews County, the age group of 45 to 64 years also exhibits the highest median household income, recorded at $92,000.

In terms of income distribution across age cohorts, in Mathews County, the median household income stands at $92,000 for householders within the 45 to 64 years age group, followed by $90,198 for the 25 to 44 years age group. Notably, householders within the 65 years and over age group, had the lowest median household income at $78,501.

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 county of Mathews County.

FIGURE 1

Mathews County, VA median household income by age of householder

It offers a clear illustration of the differences in median household incomes in Mathews County, 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 65 years and over age group demonstrated a remarkable increase of $23,795(43.50%), escalating from a median of $54,706 in 2012 to $78,501 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 $4,994(5.74%), increasing from a median of $87,006 in 2012 to $92,000 in 2022.

Mathews County, VA household income distribution across age groups

To gain a comprehensive understanding of the financial landscape within the Mathews County 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 58(1.55%) households where the householder is under 25 years old, 481(12.85%) households with a householder aged between 25 and 44 years, 1,407(37.60%) households with a householder aged between 45 and 64 years, and 1,796(48%) households where the householder is over 65 years old.

The age group of 45 to 64 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 county of Mathews County, showcasing varying income levels among different age demographics.

FIGURE 2

Mathews County, VA household income distribution across age groups

Household income distribution across 16 income brackets among four distinct age groups in Mathews County: 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 Mathews County when compared to the state of Virginia 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 Mathews County, where householders are under 25 years old, fall within or exceed the income bracket representing the median income of $90,848 for the state of Virginia. 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 Mathews County, among households headed by individuals aged 25 to 44, an impressive 56.76% match or surpass the state of Virginia median income of $90,848. These 273 households, represent a significant portion of the total 481 households in Mathews County within 25-44 years age group, reflecting commendable financial well-being within the state boundaries.
• Householder 45 to 64 years: In Mathews County, within the age group of 45 to 64 years, a remarkable 56.79% of households meet or exceed the state of Virginia median income of $90,848. These 799 households, out of the total 1,407 households in this age cohort, signify a substantial portion of mature demographic of Mathews County, showcasing commendable financial stability in comparison to the Virginia state median income benchmark.
• Householder 65 years and over: In Mathews County, among the over 65 years age group, an impressive 50.28% of households either match or surpass the state of Virginia median income of $90,848. These 903 households, constituting a significant portion of the Mathews County county senior population, showcase commendable financial stability compared to the Virginia state median income benchmark.

Things to know

Which age group reports the highest median household income in Mathews County, VA?

In Mathews County, households led by individuals aged 45 to 64 years report the highest median household income of $92,000 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 Mathews County, VA?

In terms of income distribution across age cohorts, in Mathews County, the median household income stands at $92,000 for householders within the 45 to 64 years age group, followed by $90,198 for the 25 to 44 years age group. Notably, householders within the 65 years and over age group, had the lowest median household income at $78,501..

How does the median household income for households led by individuals of median age compare in Mathews County, VA?

The median age in Mathews County is 53.7, 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 Mathews County, the age group of 45 to 64 years also exhibits the highest median household income, recorded at $92,000.

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