Mount Cory, OH Median Household Income By Age

Mount Cory, OH 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 Mount Cory population by age, the median age in Mount Cory is 25.8 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 Mount Cory, the age group of 25 to 44 years exhibited the second-highest median household income, recorded at $76,070.

In terms of income distribution across age cohorts, in Mount Cory, where there exist only two delineated age groups, the median household income is $92,303 for householders within the 45 to 64 years age group, compared to $76,070 for the 25 to 44 years 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 village of Mount Cory.

FIGURE 1

Mount Cory, OH median household income by age of householder

It offers a clear illustration of the differences in median household incomes in Mount Cory, 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 45 to 64 years age group demonstrated a remarkable increase of $20,620(28.77%), escalating from a median of $71,683 in 2012 to $92,303 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 $2,281(2.91%), declining from a median of $78,351 in 2012 to $76,070 in 2022.

Mount Cory, OH household income distribution across age groups

To gain a comprehensive understanding of the financial landscape within the Mount Cory 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, 38(39.58%) households with a householder aged between 25 and 44 years, 39(40.62%) households with a householder aged between 45 and 64 years, and 19(19.79%) households where the householder is over 65 years old.

In Mount Cory, the age group of 45 to 64 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

Mount Cory, OH household income distribution across age groups

Household income distribution across 16 income brackets among four distinct age groups in Mount Cory: 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 Mount Cory when compared to the state of Ohio 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 Mount Cory, 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 Mount Cory, among households headed by individuals aged 25 to 44, an impressive 73.68% match or surpass the state of Ohio median income of $69,753. These 28 households, represent a significant portion of the total 38 households in Mount Cory within 25-44 years age group, reflecting commendable financial well-being within the state boundaries.
• Householder 45 to 64 years: In Mount Cory, within the age group of 45 to 64 years, a remarkable 87.18% of households meet or exceed the state of Ohio median income of $69,753. These 34 households, out of the total 39 households in this age cohort, signify a substantial portion of mature demographic of Mount Cory, showcasing commendable financial stability in comparison to the Ohio state median income benchmark.
• Householder 65 years and over: In Mount Cory, among the over 65 years age group, an impressive 52.63% of households either match or surpass the state of Ohio median income of $69,753. These 10 households, constituting a significant portion of the Mount Cory village senior population, showcase commendable financial stability compared to the Ohio state median income benchmark.

Things to know

Which age group reports the highest median household income in Mount Cory, OH?

In Mount Cory, households led by individuals aged 45 to 64 years report the highest median household income of $92,303 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 Mount Cory, OH?

In terms of income distribution across age cohorts, in Mount Cory, where there exist only two delineated age groups, the median household income is $92,303 for householders within the 45 to 64 years age group, compared to $76,070 for the 25 to 44 years age group..

How does the median household income for households led by individuals of median age compare in Mount Cory, OH?

The median age in Mount Cory is 25.8, 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 Mount Cory, the age group of 25 to 44 years exhibited the second-highest median household income, recorded at $76,070.

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