Median Household Income by Age of Householder in Montgomery County, MS (2022, in 2023 inflation-adjusted dollars)
This table presents the distribution of median household income among distinct age brackets of householders in Montgomery County. Based on the latest 5-Year estimates from the American Community Survey, it displays how income varies among householders of different ages in Montgomery County.
| Age Of The Head Of Household | Median Household Income |
|---|---|
| Under 25 years | - |
| 25 to 44 years | $31,850 |
| 45 to 64 years | $45,115 |
| 65 years and over | $36,655 |
TABLE OF CONTENTS
Montgomery County, MS 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 Montgomery County population by age, the median age in Montgomery County is 42 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 Montgomery County, the age group of 25 to 44 years had the second lowest median household income, recorded at $31,850.
In terms of income distribution across age cohorts, in Montgomery County, the median household income stands at $45,115 for householders within the 45 to 64 years age group, followed by $36,655 for the 65 years and over age group. Notably, householders within the 25 to 44 years age group, had the lowest median household income at $31,850.
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 Montgomery County.
FIGURE 1
Montgomery County, MS median household income by age of householder
It offers a clear illustration of the differences in median household incomes in Montgomery 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 three age groups with available Census data in both 2012 and 2022, one groups encountered a decline in their median household income, while the remaining two experienced an increase during this period. Notably, household income for individuals within the 45 to 64 years age group demonstrated a remarkable increase of $3,359(8.04%), escalating from a median of $41,756 in 2012 to $45,115 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 $13,862(30.32%), declining from a median of $45,712 in 2012 to $31,850 in 2022.
Montgomery County, MS household income distribution across age groups
To gain a comprehensive understanding of the financial landscape within the Montgomery 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 12(0.31%) households where the householder is under 25 years old, 916(23.92%) households with a householder aged between 25 and 44 years, 1,448(37.81%) households with a householder aged between 45 and 64 years, and 1,454(37.96%) 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 county of Montgomery County, showcasing varying income levels among different age demographics.
FIGURE 2
Montgomery County, MS household income distribution across age groups
Household income distribution across 16 income brackets among four distinct age groups in Montgomery County: under 25 years, 25-44 years, 45-64 years, and over 65 years
Age-wise distribution of Montgomery County household incomes: Comparative analysis across 16 income brackets
Discover the household distribution across 16 income brackets among four distinct age groups in Montgomery 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 | - | 72 | 242 | 109 |
| $10,000 - $14,999 | - | 47 | 62 | 248 |
| $15,000 - $19,999 | - | 18 | 153 | 102 |
| $20,000 - $24,999 | - | 61 | 39 | 108 |
| $25,000 - $29,999 | - | 256 | 78 | 79 |
| $30,000 - $34,999 | - | 23 | 37 | 74 |
| $35,000 - $39,999 | - | 48 | 52 | 91 |
| $40,000 - $44,999 | - | 2 | 160 | 61 |
| $45,000 - $49,999 | - | 88 | 73 | 106 |
| $50,000 - $59,999 | - | 86 | 40 | 119 |
| $60,000 - $74,999 | - | 22 | 116 | 54 |
| $75,000 - $99,999 | - | 87 | 124 | 116 |
| $100,000 - $124,999 | - | 9 | 49 | 87 |
| $125,000 - $149,999 | - | - | 114 | 25 |
| $150,000 - $199,999 | 12 | 16 | 54 | 58 |
| $200,000 or more | - | 81 | 55 | 17 |
To further explore the income distribution and gain insights into financial landscape of Montgomery County when compared to the state of Mississippi 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 impressive that 100% of the households in Montgomery County, where householders are under 25 years old, are either within or surpass the income bracket representing the median income of $55,171 for the state of Mississippi. These 12 Montgomery County households demonstrate a significant financial standing, aligning with or exceeding the median income of the state.
- Householder 25 to 44 years: In Montgomery County, among households headed by individuals aged 25 to 44,worth noting that 32.86% match or surpass the state of Mississippi median income of $55,171. These 301 households, represent a notable portion of the total 916 households in Montgomery County within 25-44 years age group, reflecting commendable financial well-being within the state boundaries.
- Householder 45 to 64 years: In Montgomery County, within the age group of 45 to 64 years, a noteworthy 38.12% of households meet or exceed the state of Mississippi median income of $55,171. These 552 households, out of the total 1,448 households in this age cohort, signify a notable portion of mature demographic of Montgomery County, showcasing commendable financial stability in comparison to the Mississippi state median income benchmark.
- Householder 65 years and over: In Montgomery County, among the over 65 years age group, a noteworthy 32.74% of households either match or surpass the state of Mississippi median income of $55,171. These 476 households, constituting notable portion of the Montgomery County county senior population, showcase commendable financial stability compared to the Mississippi state median income benchmark.
Things to know
Which age group reports the highest median household income in Montgomery County, MS?
In Montgomery County, households led by individuals aged 45 to 64 years report the highest median household income of $45,115 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 Montgomery County, MS?
In terms of income distribution across age cohorts, in Montgomery County, the median household income stands at $45,115 for householders within the 45 to 64 years age group, followed by $36,655 for the 65 years and over age group. Notably, householders within the 25 to 44 years age group, had the lowest median household income at $31,850..
How does the median household income for households led by individuals of median age compare in Montgomery County, MS?
The median age in Montgomery County is 42, 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 Montgomery County, the age group of 25 to 44 years had the second lowest median household income, recorded at $31,850.
References
- U.S. Census Bureau American Community Survey (ACS) 2018-2022 5-Year Estimates
- Consumer Price Index retroactive series using current methods (R-CPI-U-RS)