Median Household Income by Age of Householder in Mingo County, WV (2021, in 2022 inflation-adjusted dollars)
This table presents the distribution of median household income among distinct age brackets of householders in Mingo County. Based on the latest 5-Year estimates from the American Community Survey, it displays how income varies among householders of different ages in Mingo County.
Age Of The Head Of Household | Median Household Income |
---|---|
Under 25 years | - |
25 to 44 years | $35,006 |
45 to 64 years | $39,476 |
65 years and over | $41,001 |
TABLE OF CONTENTS
Mingo County, 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 Mingo County population by age, the median age in Mingo County is 44.3 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 Mingo County, the age group of 45 to 64 years exhibited the second-highest median household income, recorded at $39,476.
In terms of income distribution across age cohorts, in Mingo County, the median household income stands at $41,001 for householders within the 65 years and over age group, followed by $39,476 for the 45 to 64 years age group. Notably, householders within the 25 to 44 years age group, had the lowest median household income at $35,006.
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 Mingo County.
![Mingo County, WV median household income by age of householder The bar chart shows Mingo County, WV 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/mingo-county-wv-median-household-income-by-age.jpeg)
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 2011 and 2021, two 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 $8,883(27.66%), escalating from a median of $32,118 in 2011 to $41,001 in 2021. 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 $18,654(34.76%), declining from a median of $53,660 in 2011 to $35,006 in 2021.
Mingo County, WV household income distribution across age groups
To gain a comprehensive understanding of the financial landscape within the Mingo 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 170(1.87%) households where the householder is under 25 years old, 2,075(22.78%) households with a householder aged between 25 and 44 years, 3,769(41.37%) households with a householder aged between 45 and 64 years, and 3,096(33.98%) 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 county of Mingo County, showcasing varying income levels among different age demographics.
![>Mingo County, WV household income distribution across age groups The bar chart displays the distribution of household income in Mingo County, WV 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/mingo-county-wv-household-income-by-age-groups.jpeg)
Age-wise distribution of Mingo County household incomes: Comparative analysis across 16 income brackets
Discover the household distribution across 16 income brackets among four distinct age groups in Mingo 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 | 86 | 471 | 602 | 276 |
$10,000 - $14,999 | - | 283 | 311 | 400 |
$15,000 - $19,999 | 16 | 110 | 294 | 281 |
$20,000 - $24,999 | 16 | 120 | 181 | 245 |
$25,000 - $29,999 | 15 | 43 | 167 | 126 |
$30,000 - $34,999 | - | 110 | 189 | 172 |
$35,000 - $39,999 | 9 | 71 | 318 | 163 |
$40,000 - $44,999 | - | 35 | 133 | 183 |
$45,000 - $49,999 | 9 | 48 | 156 | 177 |
$50,000 - $59,999 | - | 160 | 246 | 295 |
$60,000 - $74,999 | 11 | 191 | 195 | 271 |
$75,000 - $99,999 | - | 201 | 459 | 301 |
$100,000 - $124,999 | 8 | 120 | 228 | 84 |
$125,000 - $149,999 | - | 60 | 134 | 50 |
$150,000 - $199,999 | - | 6 | 115 | 55 |
$200,000 or more | - | 46 | 41 | 17 |
To further explore the income distribution and gain insights into financial landscape of Mingo County 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: It is noteworthy that only 11.18% of the households in Mingo County, where householders are under 25 years old, are either within or surpass the income bracket representing the median income of $54,329 for the state of West Virginia. These 19 Mingo County households demonstrate a significant financial standing, aligning with or exceeding the median income of the state.
- Householder 25 to 44 years: In Mingo County, among households headed by individuals aged 25 to 44,worth noting that 37.78% match or surpass the state of West Virginia median income of $54,329. These 784 households, represent a notable portion of the total 2,075 households in Mingo County within 25-44 years age group, reflecting commendable financial well-being within the state boundaries.
- Householder 45 to 64 years: In Mingo County, within the age group of 45 to 64 years, a noteworthy 37.62% of households meet or exceed the state of West Virginia median income of $54,329. These 1,418 households, out of the total 3,769 households in this age cohort, signify a notable portion of mature demographic of Mingo County, showcasing commendable financial stability in comparison to the West Virginia state median income benchmark.
- Householder 65 years and over: In Mingo County, among the over 65 years age group, a noteworthy 34.66% of households either match or surpass the state of West Virginia median income of $54,329. These 1,073 households, constituting notable portion of the Mingo County county 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 Mingo County, WV?
In Mingo County, households led by individuals aged 65 years and over report the highest median household income of $41,001 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 Mingo County, WV?
In terms of income distribution across age cohorts, in Mingo County, the median household income stands at $41,001 for householders within the 65 years and over age group, followed by $39,476 for the 45 to 64 years age group. Notably, householders within the 25 to 44 years age group, had the lowest median household income at $35,006..
How does the median household income for households led by individuals of median age compare in Mingo County, WV?
The median age in Mingo County is 44.3, 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 Mingo County, the age group of 45 to 64 years exhibited the second-highest median household income, recorded at $39,476.
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)