Median Household Income by Age of Householder in Mattawamkeag, Maine (2021, in 2022 inflation-adjusted dollars)
This table presents the distribution of median household income among distinct age brackets of householders in Mattawamkeag town. Based on the latest 5-Year estimates from the American Community Survey, it displays how income varies among householders of different ages in Mattawamkeag town.
Age Of The Head Of Household | Median Household Income |
---|---|
Under 25 years | - |
25 to 44 years | - |
45 to 64 years | $43,430 |
65 years and over | $49,992 |
TABLE OF CONTENTS
Mattawamkeag, Maine 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 Mattawamkeag town population by age, the median age in Mattawamkeag town is 51.3 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 Mattawamkeag town, the age group of 45 to 64 years exhibited the second-highest median household income, recorded at $43,430.
In terms of income distribution across age cohorts, in Mattawamkeag town, where there exist only two delineated age groups, the median household income is $49,992 for householders within the 65 years and over age group, compared to $43,430 for 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 Mattawamkeag town.
![Mattawamkeag, Maine median household income by age of householder The bar chart shows Mattawamkeag, Maine median household income by age of householder. All incomes have been adjusted for 2022 inflation using the Consumer Price Index retroactive series (R-CPI-U-RS).](https://i.neilsberg.com/ch/mattawamkeag-me-median-household-income-by-age.jpeg)
Analysis of income trends over the past decade highlights notable shifts across various age groups. Among the two age groups with available Census data in both 2011 and 2021, one 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 $22,078(79.09%), escalating from a median of $27,914 in 2011 to $49,992 in 2021. 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 $5,137(10.58%), declining from a median of $48,567 in 2011 to $43,430 in 2021.
Mattawamkeag, Maine household income distribution across age groups
To gain a comprehensive understanding of the financial landscape within the Mattawamkeag 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, 64(21.84%) households with a householder aged between 25 and 44 years, 169(57.68%) households with a householder aged between 45 and 64 years, and 60(20.48%) households where the householder is over 65 years old.
The age group of 65 years and over 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 Mattawamkeag town, showcasing varying income levels among different age demographics.
![>Mattawamkeag, Maine household income distribution across age groups The bar chart displays the distribution of household income in Mattawamkeag, Maine across different age groups as categorized by the U.S. Census Bureau. It illustrates the number of households within each income bracket across age categories. This visualization offers valuable insights into income disparities and variations across age groups, facilitating data analysis and informed decision-making. It enables the identification of demographics with specific financial statuses within distinct age brackets.](https://i.neilsberg.com/ch/mattawamkeag-me-household-income-by-age-groups.jpeg)
Age-wise distribution of Mattawamkeag town household incomes: Comparative analysis across 16 income brackets
Discover the household distribution across 16 income brackets among four distinct age groups in Mattawamkeag town: 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 | 5 |
$10,000 - $14,999 | - | 8 | 9 | 6 |
$15,000 - $19,999 | - | - | 25 | 4 |
$20,000 - $24,999 | - | - | 21 | - |
$25,000 - $29,999 | - | 10 | 4 | 4 |
$30,000 - $34,999 | - | - | 4 | 6 |
$35,000 - $39,999 | - | 10 | 11 | 2 |
$40,000 - $44,999 | - | 5 | 10 | 3 |
$45,000 - $49,999 | - | - | 5 | - |
$50,000 - $59,999 | - | - | 3 | 16 |
$60,000 - $74,999 | - | 8 | 8 | 1 |
$75,000 - $99,999 | - | 12 | 36 | 13 |
$100,000 - $124,999 | - | 11 | 19 | - |
$125,000 - $149,999 | - | - | - | - |
$150,000 - $199,999 | - | - | 2 | - |
$200,000 or more | - | - | 2 | - |
To further explore the income distribution and gain insights into financial landscape of Mattawamkeag town when compared to the state of Maine 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 Mattawamkeag 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 Mattawamkeag town, among households headed by individuals aged 25 to 44,worth noting that 48.44% match or surpass the state of Maine median income of $69,543. These 31 households, represent a notable portion of the total 64 households in Mattawamkeag town within 25-44 years age group, reflecting commendable financial well-being within the state boundaries.
- Householder 45 to 64 years: In Mattawamkeag town, within the age group of 45 to 64 years, a noteworthy 39.64% of households meet or exceed the state of Maine median income of $69,543. These 67 households, out of the total 169 households in this age cohort, signify a notable portion of mature demographic of Mattawamkeag town, showcasing commendable financial stability in comparison to the Maine state median income benchmark.
- Householder 65 years and over: In Mattawamkeag town, among the over 65 years age group, only 23.33% of households either match or surpass the state of Maine median income of $69,543. These 14 households, constituting low portion of the Mattawamkeag town town senior population, showcase commendable financial stability compared to the Maine state median income benchmark.
Things to know
Which age group reports the highest median household income in Mattawamkeag, Maine?
In Mattawamkeag town, households led by individuals aged 65 years and over report the highest median household income of $49,992 according to the American Community Survey 2017-2021 5-Year Estimates by the US Census Bureau.
How does the median household income vary by age in Mattawamkeag, Maine?
In terms of income distribution across age cohorts, in Mattawamkeag town, where there exist only two delineated age groups, the median household income is $49,992 for householders within the 65 years and over age group, compared to $43,430 for the 45 to 64 years age group..
How does the median household income for households led by individuals of median age compare in Mattawamkeag, Maine?
The median age in Mattawamkeag town is 51.3, 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 Mattawamkeag town, the age group of 45 to 64 years exhibited the second-highest median household income, recorded at $43,430.
References
- U.S. Census Bureau American Community Survey (ACS) 2017-2021 5-Year Estimates
- Consumer Price Index retroactive series using current methods (R-CPI-U-RS)