Median Household Income by Age of Householder in Moore Township, Minnesota (2022, in 2023 inflation-adjusted dollars)
This table presents the distribution of median household income among distinct age brackets of householders in Moore township. Based on the latest 5-Year estimates from the American Community Survey, it displays how income varies among householders of different ages in Moore township.
| Age Of The Head Of Household | Median Household Income |
|---|---|
| Under 25 years | - |
| 25 to 44 years | $115,188 |
| 45 to 64 years | - |
| 65 years and over | $67,247 |
TABLE OF CONTENTS
Moore Township, Minnesota 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 Moore township population by age, the median age in Moore township is 17.9 years.
Typically for a location with median age in this range, it likely boasts a youthful population, indication a potential hub for emerging workforce. Interestingly, according to the latest American Community Survey data, the US Census Bureau did not report the median household income for householders in the Under 25 years age group in Moore township. This absence could be attributed to a smaller working population or fewer household heads within this age range, potentially resulting in less reliable or unavailable data for reporting.
In terms of income distribution across age cohorts, in Moore township, where there exist only two delineated age groups, the median household income is $115,188 for householders within the 25 to 44 years age group, compared to $67,247 for the 65 years and over age group.
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 township of Moore township.
FIGURE 1
Moore Township, Minnesota median household income by age of householder
It offers a clear illustration of the differences in median household incomes in Moore township, 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 two age groups with available Census data in both 2012 and 2022, one 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 25 to 44 years age group demonstrated a remarkable increase of $23,316(25.38%), escalating from a median of $91,872 in 2012 to $115,188 in 2022. Conversely, the age group of 65 years and over years witnessed the most significant decline in household income across the same span. Their median income saw a substantial drop of $1,102(1.61%), declining from a median of $68,349 in 2012 to $67,247 in 2022.
Moore Township, Minnesota household income distribution across age groups
To gain a comprehensive understanding of the financial landscape within the Moore township 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 14(13.86%) households where the householder is under 25 years old, 45(44.55%) households with a householder aged between 25 and 44 years, 23(22.77%) households with a householder aged between 45 and 64 years, and 19(18.81%) households where the householder is over 65 years old.
In Moore township, 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
Moore Township, Minnesota household income distribution across age groups
Household income distribution across 16 income brackets among four distinct age groups in Moore township: under 25 years, 25-44 years, 45-64 years, and over 65 years
Age-wise distribution of Moore township household incomes: Comparative analysis across 16 income brackets
Discover the household distribution across 16 income brackets among four distinct age groups in Moore township: 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 | 4 | - | - |
| $10,000 - $14,999 | - | - | - | - |
| $15,000 - $19,999 | - | - | - | - |
| $20,000 - $24,999 | - | - | - | - |
| $25,000 - $29,999 | - | - | 11 | 2 |
| $30,000 - $34,999 | - | - | - | - |
| $35,000 - $39,999 | - | - | - | 1 |
| $40,000 - $44,999 | - | - | - | - |
| $45,000 - $49,999 | - | 2 | - | - |
| $50,000 - $59,999 | - | - | 3 | 4 |
| $60,000 - $74,999 | - | 2 | 1 | 5 |
| $75,000 - $99,999 | - | 11 | 1 | 1 |
| $100,000 - $124,999 | 9 | 5 | 1 | 2 |
| $125,000 - $149,999 | - | 6 | 2 | - |
| $150,000 - $199,999 | - | 11 | 1 | 2 |
| $200,000 or more | - | 4 | 3 | 2 |
To further explore the income distribution and gain insights into financial landscape of Moore township when compared to the state of Minnesota 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 64.29% of the households in Moore township, where householders are under 25 years old, are either within or surpass the income bracket representing the median income of $87,791 for the state of Minnesota. These 9 Moore township households demonstrate a significant financial standing, aligning with or exceeding the median income of the state.
- Householder 25 to 44 years: In Moore township, among households headed by individuals aged 25 to 44, an impressive 82.22% match or surpass the state of Minnesota median income of $87,791. These 37 households, represent a significant portion of the total 45 households in Moore township within 25-44 years age group, reflecting commendable financial well-being within the state boundaries.
- Householder 45 to 64 years: In Moore township, within the age group of 45 to 64 years, a noteworthy 34.78% of households meet or exceed the state of Minnesota median income of $87,791. These 8 households, out of the total 23 households in this age cohort, signify a notable portion of mature demographic of Moore township, showcasing commendable financial stability in comparison to the Minnesota state median income benchmark.
- Householder 65 years and over: In Moore township, among the over 65 years age group, a noteworthy 36.84% of households either match or surpass the state of Minnesota median income of $87,791. These 7 households, constituting notable portion of the Moore township township senior population, showcase commendable financial stability compared to the Minnesota state median income benchmark.
Things to know
Which age group reports the highest median household income in Moore Township, Minnesota?
In Moore township, households led by individuals aged 25 to 44 years report the highest median household income of $115,188 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 Moore Township, Minnesota?
In terms of income distribution across age cohorts, in Moore township, where there exist only two delineated age groups, the median household income is $115,188 for householders within the 25 to 44 years age group, compared to $67,247 for the 65 years and over age group..
How does the median household income for households led by individuals of median age compare in Moore Township, Minnesota?
The median age in Moore township is 17.9, which falls within the Under 25 years range among the four age groups defined by the US Census Bureau. This demographic likely boasts a youthful population, indication a potential hub for emerging workforce. Interestingly, according to the latest American Community Survey data, the US Census Bureau did not report the median household income for householders in the Under 25 years age group in Moore township. This absence could be attributed to a smaller working population or fewer household heads within this age range, potentially resulting in less reliable or unavailable data for reporting.
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)