Median Household Income by Age of Householder in Matoaka, WV (In 2023 inflation-adjusted dollars)
This table presents the distribution of median household income among distinct age brackets of householders in Matoaka. Based on the latest 5-Year estimates from the American Community Survey, it displays how income varies among householders of different ages in Matoaka.
| Age Of The Head Of Household | Median Household Income |
|---|---|
| Under 25 years | - |
| 25 to 44 years | - |
| 45 to 64 years | $19,375 |
| 65 years and over | - |
TABLE OF CONTENTS
Matoaka, WV 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 Matoaka population by age, the median age in Matoaka is 43.2 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, according to the latest American Community Survey data, the US Census Bureau did not report the median household income for householders in the 25 to 44 years age group in Matoaka. 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, Matoaka only reports a median household income of $19,375 among householders in the 45 to 64 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 Matoaka.
FIGURE 1
Matoaka, WV median household income by age of householder
It offers a clear illustration of the differences in median household incomes in Matoaka, 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 45 to 64 years age group demonstrated a remarkable increase of $2,484(14.71%), escalating from a median of $16,891 in 2013 to $19,375 in 2023. 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 $2,484(14.71%), increasing from a median of $16,891 in 2013 to $19,375 in 2023.
Matoaka, WV household income distribution across age groups
To gain a comprehensive understanding of the financial landscape within the Matoaka 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, 5(16.67%) households with a householder aged between 25 and 44 years, 16(53.33%) households with a householder aged between 45 and 64 years, and 9(30%) households where the householder is over 65 years old.
In Matoaka, 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
Matoaka, WV household income distribution across age groups
Household income distribution across 16 income brackets among four distinct age groups in Matoaka: under 25 years, 25-44 years, 45-64 years, and over 65 years
Age-wise distribution of Matoaka household incomes: Comparative analysis across 16 income brackets
Discover the household distribution across 16 income brackets among four distinct age groups in Matoaka: Under 25 years, 25-44 years, 45-64 years, and over 65 years. This table highlights the variation in household income, offering valuable insights into economic trends and disparities within different age categories.
| Household Income Age of Householder | Under 25 years | 25 to 44 years | 45 to 64 years | 65 years and over |
|---|---|---|---|---|
| Less than $10,000 | - | - | - | - |
| $10,000 - $14,999 | - | - | - | - |
| $15,000 - $19,999 | - | - | 9 | 2 |
| $20,000 - $24,999 | - | - | 7 | - |
| $25,000 - $29,999 | - | - | - | 3 |
| $30,000 - $34,999 | - | - | - | - |
| $35,000 - $39,999 | - | - | - | - |
| $40,000 - $44,999 | - | - | - | - |
| $45,000 - $49,999 | - | 5 | - | - |
| $50,000 - $59,999 | - | - | - | - |
| $60,000 - $74,999 | - | - | - | 4 |
| $75,000 - $99,999 | - | - | - | - |
| $100,000 - $124,999 | - | - | - | - |
| $125,000 - $149,999 | - | - | - | - |
| $150,000 - $199,999 | - | - | - | - |
| $200,000 or more | - | - | - | - |
To further explore the income distribution and gain insights into financial landscape of Matoaka when compared to the state of West 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: In Matoaka, 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 Matoaka, there are no households led by individuals aged 25 to 44, that meet or surpass the state of West Virginia median income of $57,917. Thus of the total 5 households in Matoaka, where the householder is 25-44 years old, none had an income higher than the median state income.
- Householder 45 to 64 years: In Matoaka, among households led by individuals aged 45 to 64 years, there are no households that meet or surpass the state of West Virginia median income of $57,917. Hence, of the total 16 households in this age group, none achieved an income higher than the West Virginia state median income range.
- Householder 65 years and over: In Matoaka, among the over 65 years age group, a noteworthy 44.44% of households either match or surpass the state of West Virginia median income of $57,917. These 4 households, constituting notable portion of the Matoaka town senior population, showcase commendable financial stability compared to the West Virginia state median income benchmark.
Things to know
Which age group reports the highest median household income in Matoaka, WV?
In Matoaka, households led by individuals aged 45 to 64 years report the highest median household income of $19,375 according to the American Community Survey 2019-2023 5-Year Estimates by the US Census Bureau.
How does the median household income vary by age in Matoaka, WV?
In terms of income distribution across age cohorts, Matoaka only reports a median household income of $19,375 among householders in the 45 to 64 years age group..
How does the median household income for households led by individuals of median age compare in Matoaka, WV?
The median age in Matoaka is 43.2, 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, according to the latest American Community Survey data, the US Census Bureau did not report the median household income for householders in the 25 to 44 years age group in Matoaka. 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
- U.S. Census Bureau American Community Survey (ACS) 2019-2023 5-Year Estimates
- Consumer Price Index retroactive series using current methods (R-CPI-U-RS)
