Median Household Income by Age of Householder in McDonald County, MO (In 2023 inflation-adjusted dollars)
This table presents the distribution of median household income among distinct age brackets of householders in McDonald County. Based on the latest 5-Year estimates from the American Community Survey, it displays how income varies among householders of different ages in McDonald County.
| Age Of The Head Of Household | Median Household Income |
|---|---|
| Under 25 years | $43,529 |
| 25 to 44 years | $51,909 |
| 45 to 64 years | $64,740 |
| 65 years and over | $31,950 |
TABLE OF CONTENTS
McDonald County, MO 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 McDonald County population by age, the median age in McDonald County is 38.1 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 McDonald County, the age group of 25 to 44 years exhibited the second-highest median household income, recorded at $51,909.
In terms of income distribution across age cohorts, in McDonald County, householders within the 45 to 64 years age group have the highest median household income at $64,740, followed by those in the 25 to 44 years age group with an income of $51,909. Meanwhile householders within the under 25 years age group report the second lowest median household income of $43,529. Notably, householders within the 65 years and over age group, had the lowest median household income at $31,950.
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 McDonald County.
FIGURE 1
McDonald County, MO median household income by age of householder
It offers a clear illustration of the differences in median household incomes in McDonald 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 four age groups with available Census data in both 2013 and 2023, three 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 45 to 64 years age group demonstrated a remarkable increase of $7,276(12.66%), escalating from a median of $57,464 in 2013 to $64,740 in 2023. Conversely, the age group of Under 25 years years witnessed the most significant decline in household income across the same span. Their median income saw a substantial drop of $11,111(20.33%), declining from a median of $54,640 in 2013 to $43,529 in 2023.
McDonald County, MO household income distribution across age groups
To gain a comprehensive understanding of the financial landscape within the McDonald 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 270(3.17%) households where the householder is under 25 years old, 2,728(32.05%) households with a householder aged between 25 and 44 years, 3,355(39.41%) households with a householder aged between 45 and 64 years, and 2,159(25.36%) households where the householder is over 65 years old.
In McDonald County, 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
McDonald County, MO household income distribution across age groups
Household income distribution across 16 income brackets among four distinct age groups in McDonald County: under 25 years, 25-44 years, 45-64 years, and over 65 years
Age-wise distribution of McDonald County household incomes: Comparative analysis across 16 income brackets
Discover the household distribution across 16 income brackets among four distinct age groups in McDonald County: 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 | 5 | 65 | 150 | 150 |
| $10,000 - $14,999 | 13 | 54 | 231 | 196 |
| $15,000 - $19,999 | 15 | 83 | 154 | 226 |
| $20,000 - $24,999 | 2 | 157 | 141 | 243 |
| $25,000 - $29,999 | 4 | 229 | 89 | 206 |
| $30,000 - $34,999 | 61 | 164 | 152 | 167 |
| $35,000 - $39,999 | 16 | 250 | 184 | 149 |
| $40,000 - $44,999 | 39 | 174 | 85 | 169 |
| $45,000 - $49,999 | 40 | 146 | 138 | 73 |
| $50,000 - $59,999 | 23 | 252 | 238 | 105 |
| $60,000 - $74,999 | 20 | 241 | 391 | 148 |
| $75,000 - $99,999 | 17 | 373 | 448 | 91 |
| $100,000 - $124,999 | - | 202 | 268 | 97 |
| $125,000 - $149,999 | 15 | 131 | 231 | 76 |
| $150,000 - $199,999 | - | 125 | 342 | 27 |
| $200,000 or more | - | 82 | 113 | 36 |
To further explore the income distribution and gain insights into financial landscape of McDonald County when compared to the state of Missouri 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 only 19.26% of the households in McDonald County, where householders are under 25 years old, are either within or surpass the income bracket representing the median income of $68,920 for the state of Missouri. These 52 McDonald County households demonstrate a significant financial standing, aligning with or exceeding the median income of the state.
- Householder 25 to 44 years: In McDonald County, among households headed by individuals aged 25 to 44,worth noting that 42.30% match or surpass the state of Missouri median income of $68,920. These 1,154 households, represent a notable portion of the total 2,728 households in McDonald County within 25-44 years age group, reflecting commendable financial well-being within the state boundaries.
- Householder 45 to 64 years: In McDonald County, within the age group of 45 to 64 years, a remarkable 53.44% of households meet or exceed the state of Missouri median income of $68,920. These 1,793 households, out of the total 3,355 households in this age cohort, signify a substantial portion of mature demographic of McDonald County, showcasing commendable financial stability in comparison to the Missouri state median income benchmark.
- Householder 65 years and over: In McDonald County, among the over 65 years age group, only 22% of households either match or surpass the state of Missouri median income of $68,920. These 475 households, constituting low portion of the McDonald County county senior population, showcase commendable financial stability compared to the Missouri state median income benchmark.
Things to know
Which age group reports the highest median household income in McDonald County, MO?
In McDonald County, households led by individuals aged 45 to 64 years report the highest median household income of $64,740 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 McDonald County, MO?
In terms of income distribution across age cohorts, in McDonald County, householders within the 45 to 64 years age group have the highest median household income at $64,740, followed by those in the 25 to 44 years age group with an income of $51,909. Meanwhile householders within the under 25 years age group report the second lowest median household income of $43,529. Notably, householders within the 65 years and over age group, had the lowest median household income at $31,950..
How does the median household income for households led by individuals of median age compare in McDonald County, MO?
The median age in McDonald County is 38.1, 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 McDonald County, the age group of 25 to 44 years exhibited the second-highest median household income, recorded at $51,909.
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)
