Monte Vista, CO Median Household Income By Age

Monte Vista, CO 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 Monte Vista population by age, the median age in Monte Vista is 38.2 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, within Monte Vista, the age group of 25 to 44 years also exhibits the highest median household income, recorded at $84,563.

In terms of income distribution across age cohorts, in Monte Vista, householders within the 25 to 44 years age group have the highest median household income at $84,563, followed by those in the 45 to 64 years age group with an income of $78,141. Meanwhile householders within the 65 years and over age group report the second lowest median household income of $36,704. Notably, householders within the under 25 years age group, had the lowest median household income at $24,303.

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 city of Monte Vista.

FIGURE 1

Monte Vista, CO median household income by age of householder

It offers a clear illustration of the differences in median household incomes in Monte Vista, 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 2012 and 2022, none had a decline during this time period. Notably, household income for individuals within the 45 to 64 years age group demonstrated a remarkable increase of $29,541(60.78%), escalating from a median of $48,600 in 2012 to $78,141 in 2022. Conversely, the age group of 65 years and over years witnessed the smallest growth in household income across the same span. Their median income saw a small increase of $8,498(30.13%), increasing from a median of $28,206 in 2012 to $36,704 in 2022.

Monte Vista, CO household income distribution across age groups

To gain a comprehensive understanding of the financial landscape within the Monte Vista 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 145(9.20%) households where the householder is under 25 years old, 587(37.25%) households with a householder aged between 25 and 44 years, 505(32.04%) households with a householder aged between 45 and 64 years, and 339(21.51%) households where the householder is over 65 years old.

In Monte Vista, the age group of 25 to 44 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

Monte Vista, CO household income distribution across age groups

Household income distribution across 16 income brackets among four distinct age groups in Monte Vista: 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 Monte Vista when compared to the state of Colorado 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 no households in Monte Vista, where householders are under 25 years old, fall within or exceed the income bracket representing the median income of $91,212 for the state of Colorado. This indicates an income disparity among households headed by individuals under 25 years old when compared to the median income of the state.
• Householder 25 to 44 years: In Monte Vista, among households headed by individuals aged 25 to 44, an impressive 52.81% match or surpass the state of Colorado median income of $91,212. These 310 households, represent a significant portion of the total 587 households in Monte Vista within 25-44 years age group, reflecting commendable financial well-being within the state boundaries.
• Householder 45 to 64 years: In Monte Vista, within the age group of 45 to 64 years, a remarkable 50.10% of households meet or exceed the state of Colorado median income of $91,212. These 253 households, out of the total 505 households in this age cohort, signify a substantial portion of mature demographic of Monte Vista, showcasing commendable financial stability in comparison to the Colorado state median income benchmark.
• Householder 65 years and over: In Monte Vista, among the over 65 years age group, only 13.86% of households either match or surpass the state of Colorado median income of $91,212. These 47 households, constituting low portion of the Monte Vista city senior population, showcase commendable financial stability compared to the Colorado state median income benchmark.

Things to know

Which age group reports the highest median household income in Monte Vista, CO?

In Monte Vista, households led by individuals aged 25 to 44 years report the highest median household income of $84,563 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 Monte Vista, CO?

In terms of income distribution across age cohorts, in Monte Vista, householders within the 25 to 44 years age group have the highest median household income at $84,563, followed by those in the 45 to 64 years age group with an income of $78,141. Meanwhile householders within the 65 years and over age group report the second lowest median household income of $36,704. Notably, householders within the under 25 years age group, had the lowest median household income at $24,303..

How does the median household income for households led by individuals of median age compare in Monte Vista, CO?

The median age in Monte Vista is 38.2, 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, within Monte Vista, the age group of 25 to 44 years also exhibits the highest median household income, recorded at $84,563.

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