Median Household Income by Age of Householder in Morgan Township, Pennsylvania (2022, in 2023 inflation-adjusted dollars)
This table presents the distribution of median household income among distinct age brackets of householders in Morgan township. Based on the latest 5-Year estimates from the American Community Survey, it displays how income varies among householders of different ages in Morgan township.
| Age Of The Head Of Household | Median Household Income |
|---|---|
| Under 25 years | - |
| 25 to 44 years | $106,631 |
| 45 to 64 years | $61,173 |
| 65 years and over | $52,497 |
TABLE OF CONTENTS
Morgan Township, Pennsylvania 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 Morgan township population by age, the median age in Morgan township is 46.5 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 Morgan township, the age group of 45 to 64 years exhibited the second-highest median household income, recorded at $61,173.
In terms of income distribution across age cohorts, in Morgan township, the median household income stands at $106,631 for householders within the 25 to 44 years age group, followed by $61,173 for the 45 to 64 years age group. Notably, householders within the 65 years and over age group, had the lowest median household income at $52,497.
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 Morgan township.
FIGURE 1
Morgan Township, Pennsylvania median household income by age of householder
It offers a clear illustration of the differences in median household incomes in Morgan 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 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 25 to 44 years age group demonstrated a remarkable increase of $19,112(21.84%), escalating from a median of $87,519 in 2012 to $106,631 in 2022. Conversely, the age group of 45 to 64 years years witnessed the most significant decline in household income across the same span. Their median income saw a substantial drop of $5,747(8.59%), declining from a median of $66,920 in 2012 to $61,173 in 2022.
Morgan Township, Pennsylvania household income distribution across age groups
To gain a comprehensive understanding of the financial landscape within the Morgan 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 0 households where the householder is under 25 years old, 214(24.68%) households with a householder aged between 25 and 44 years, 421(48.56%) households with a householder aged between 45 and 64 years, and 232(26.76%) households where the householder is over 65 years old.
The age group of 25 to 44 years 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 township of Morgan township, showcasing varying income levels among different age demographics.
FIGURE 2
Morgan Township, Pennsylvania household income distribution across age groups
Household income distribution across 16 income brackets among four distinct age groups in Morgan township: under 25 years, 25-44 years, 45-64 years, and over 65 years
Age-wise distribution of Morgan township household incomes: Comparative analysis across 16 income brackets
Discover the household distribution across 16 income brackets among four distinct age groups in Morgan 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 | - | 20 | 20 | - |
| $10,000 - $14,999 | - | - | 58 | 23 |
| $15,000 - $19,999 | - | - | 19 | - |
| $20,000 - $24,999 | - | - | 30 | 23 |
| $25,000 - $29,999 | - | - | 29 | - |
| $30,000 - $34,999 | - | - | 25 | 19 |
| $35,000 - $39,999 | - | - | 5 | 10 |
| $40,000 - $44,999 | - | - | 19 | 26 |
| $45,000 - $49,999 | - | 26 | - | 14 |
| $50,000 - $59,999 | - | 7 | 11 | 45 |
| $60,000 - $74,999 | - | 6 | 35 | 38 |
| $75,000 - $99,999 | - | 22 | 43 | 19 |
| $100,000 - $124,999 | - | 40 | 69 | 5 |
| $125,000 - $149,999 | - | 38 | 16 | - |
| $150,000 - $199,999 | - | 41 | 24 | - |
| $200,000 or more | - | 14 | 18 | 10 |
To further explore the income distribution and gain insights into financial landscape of Morgan township when compared to the state of Pennsylvania 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 Morgan township, 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 Morgan township, among households headed by individuals aged 25 to 44, an impressive 72.43% match or surpass the state of Pennsylvania median income of $76,188. These 155 households, represent a significant portion of the total 214 households in Morgan township within 25-44 years age group, reflecting commendable financial well-being within the state boundaries.
- Householder 45 to 64 years: In Morgan township, within the age group of 45 to 64 years, a noteworthy 40.38% of households meet or exceed the state of Pennsylvania median income of $76,188. These 170 households, out of the total 421 households in this age cohort, signify a notable portion of mature demographic of Morgan township, showcasing commendable financial stability in comparison to the Pennsylvania state median income benchmark.
- Householder 65 years and over: In Morgan township, among the over 65 years age group, only 14.66% of households either match or surpass the state of Pennsylvania median income of $76,188. These 34 households, constituting low portion of the Morgan township township senior population, showcase commendable financial stability compared to the Pennsylvania state median income benchmark.
Things to know
Which age group reports the highest median household income in Morgan Township, Pennsylvania?
In Morgan township, households led by individuals aged 25 to 44 years report the highest median household income of $106,631 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 Morgan Township, Pennsylvania?
In terms of income distribution across age cohorts, in Morgan township, the median household income stands at $106,631 for householders within the 25 to 44 years age group, followed by $61,173 for the 45 to 64 years age group. Notably, householders within the 65 years and over age group, had the lowest median household income at $52,497..
How does the median household income for households led by individuals of median age compare in Morgan Township, Pennsylvania?
The median age in Morgan township is 46.5, 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 Morgan township, the age group of 45 to 64 years exhibited the second-highest median household income, recorded at $61,173.
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)