Meeteetse, WY Median Household Income By Age

Meeteetse, WY 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 Meeteetse population by age, the median age in Meeteetse is 61.2 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 Meeteetse, the age group of 45 to 64 years also exhibits the highest median household income, recorded at $78,688.

In terms of income distribution across age cohorts, in Meeteetse, the median household income stands at $78,688 for householders within the 45 to 64 years age group, followed by $40,348 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 $20,133.

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 Meeteetse.

FIGURE 1

Meeteetse, WY median household income by age of householder

It offers a clear illustration of the differences in median household incomes in Meeteetse, 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 an increase in this time period. Notably, household income for individuals within the 45 to 64 years age group demonstrated the smallest decline of $9,480(10.75%), declining from a median of $88,168 in 2012 to $78,688 in 2022. Conversely, the age group of 25 to 44 years years witnessed the most significant decline in household income across the same span. Their median income saw a substantial drop of $30,501(43.05%), declining from a median of $70,849 in 2012 to $40,348 in 2022.

Meeteetse, WY household income distribution across age groups

To gain a comprehensive understanding of the financial landscape within the Meeteetse 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, 42(13.12%) households with a householder aged between 25 and 44 years, 110(34.38%) households with a householder aged between 45 and 64 years, and 168(52.50%) 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 town of Meeteetse, showcasing varying income levels among different age demographics.

FIGURE 2

Meeteetse, WY household income distribution across age groups

Household income distribution across 16 income brackets among four distinct age groups in Meeteetse: 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 Meeteetse when compared to the state of Wyoming 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 Meeteetse, 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 Meeteetse, among households headed by individuals aged 25 to 44,worth noting that 28.57% match or surpass the state of Wyoming median income of $75,485. These 12 households, represent a notable portion of the total 42 households in Meeteetse within 25-44 years age group, reflecting commendable financial well-being within the state boundaries.
• Householder 45 to 64 years: In Meeteetse, within the age group of 45 to 64 years, a remarkable 57.27% of households meet or exceed the state of Wyoming median income of $75,485. These 63 households, out of the total 110 households in this age cohort, signify a substantial portion of mature demographic of Meeteetse, showcasing commendable financial stability in comparison to the Wyoming state median income benchmark.
• Householder 65 years and over: In Meeteetse, among the over 65 years age group, only 6.55% of households either match or surpass the state of Wyoming median income of $75,485. These 11 households, constituting low portion of the Meeteetse town senior population, showcase commendable financial stability compared to the Wyoming state median income benchmark.

Things to know

Which age group reports the highest median household income in Meeteetse, WY?

In Meeteetse, households led by individuals aged 45 to 64 years report the highest median household income of $78,688 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 Meeteetse, WY?

In terms of income distribution across age cohorts, in Meeteetse, the median household income stands at $78,688 for householders within the 45 to 64 years age group, followed by $40,348 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 $20,133..

How does the median household income for households led by individuals of median age compare in Meeteetse, WY?

The median age in Meeteetse is 61.2, 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 Meeteetse, the age group of 45 to 64 years also exhibits the highest median household income, recorded at $78,688.

References

Notes