Median Household Income by Age of Householder in Mound Bayou, MS (2022, in 2023 inflation-adjusted dollars)
This table presents the distribution of median household income among distinct age brackets of householders in Mound Bayou. Based on the latest 5-Year estimates from the American Community Survey, it displays how income varies among householders of different ages in Mound Bayou.
| Age Of The Head Of Household | Median Household Income |
|---|---|
| Under 25 years | - |
| 25 to 44 years | $35,442 |
| 45 to 64 years | $23,335 |
| 65 years and over | $27,333 |
TABLE OF CONTENTS
Mound Bayou, 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 Mound Bayou population by age, the median age in Mound Bayou is 37.8 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 Mound Bayou, the age group of 25 to 44 years also exhibits the highest median household income, recorded at $35,442.
In terms of income distribution across age cohorts, in Mound Bayou, the median household income stands at $35,442 for householders within the 25 to 44 years age group, followed by $27,333 for the 65 years and over age group. Notably, householders within the 45 to 64 years age group, had the lowest median household income at $23,335.
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 Mound Bayou.
FIGURE 1
Mound Bayou, MS median household income by age of householder
It offers a clear illustration of the differences in median household incomes in Mound Bayou, 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, 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 25 to 44 years age group demonstrated a remarkable increase of $9,999(39.30%), escalating from a median of $25,443 in 2012 to $35,442 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 $15,595(40.06%), declining from a median of $38,930 in 2012 to $23,335 in 2022.
Mound Bayou, MS household income distribution across age groups
To gain a comprehensive understanding of the financial landscape within the Mound Bayou 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, 152(24.96%) households with a householder aged between 25 and 44 years, 296(48.60%) households with a householder aged between 45 and 64 years, and 161(26.44%) 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 city of Mound Bayou, showcasing varying income levels among different age demographics.
FIGURE 2
Mound Bayou, MS household income distribution across age groups
Household income distribution across 16 income brackets among four distinct age groups in Mound Bayou: under 25 years, 25-44 years, 45-64 years, and over 65 years
Age-wise distribution of Mound Bayou household incomes: Comparative analysis across 16 income brackets
Discover the household distribution across 16 income brackets among four distinct age groups in Mound Bayou: 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 | - | 33 | 42 | 28 |
| $10,000 - $14,999 | - | - | 38 | 12 |
| $15,000 - $19,999 | - | 14 | 14 | 26 |
| $20,000 - $24,999 | - | 8 | 65 | 13 |
| $25,000 - $29,999 | - | - | - | 6 |
| $30,000 - $34,999 | - | 26 | 20 | 4 |
| $35,000 - $39,999 | - | - | 7 | 3 |
| $40,000 - $44,999 | - | 36 | 23 | 28 |
| $45,000 - $49,999 | - | - | 9 | 10 |
| $50,000 - $59,999 | - | 15 | 3 | 13 |
| $60,000 - $74,999 | - | 12 | 31 | 3 |
| $75,000 - $99,999 | - | - | 12 | 11 |
| $100,000 - $124,999 | - | 3 | 22 | 4 |
| $125,000 - $149,999 | - | - | 8 | - |
| $150,000 - $199,999 | - | 5 | 2 | - |
| $200,000 or more | - | - | - | - |
To further explore the income distribution and gain insights into financial landscape of Mound Bayou 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: In Mound Bayou, 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 Mound Bayou, among households headed by individuals aged 25 to 44,noteworthy that only 23.03% match or surpass the state of Mississippi median income of $55,171. These 35 households, represent a low portion of the total 152 households in Mound Bayou within 25-44 years age group, reflecting commendable financial well-being within the state boundaries.
- Householder 45 to 64 years: In Mound Bayou, within the age group of 45 to 64 years, only 26.35% of households meet or exceed the state of Mississippi median income of $55,171. These 78 households, out of the total 296 households in this age cohort, signify a low portion of mature demographic of Mound Bayou, showcasing commendable financial stability in comparison to the Mississippi state median income benchmark.
- Householder 65 years and over: In Mound Bayou, among the over 65 years age group, only 19.25% of households either match or surpass the state of Mississippi median income of $55,171. These 31 households, constituting low portion of the Mound Bayou city 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 Mound Bayou, MS?
In Mound Bayou, households led by individuals aged 25 to 44 years report the highest median household income of $35,442 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 Mound Bayou, MS?
In terms of income distribution across age cohorts, in Mound Bayou, the median household income stands at $35,442 for householders within the 25 to 44 years age group, followed by $27,333 for the 65 years and over age group. Notably, householders within the 45 to 64 years age group, had the lowest median household income at $23,335..
How does the median household income for households led by individuals of median age compare in Mound Bayou, MS?
The median age in Mound Bayou is 37.8, 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 Mound Bayou, the age group of 25 to 44 years also exhibits the highest median household income, recorded at $35,442.
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)