Mount Pleasant, TN Median Household Income By Age

Mount Pleasant, TN 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 Pleasant population by age, the median age in Mount Pleasant is 43.5 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 Pleasant, the age group of 25 to 44 years also exhibits the highest median household income, recorded at $67,356.

In terms of income distribution across age cohorts, in Mount Pleasant, the median household income stands at $67,356 for householders within the 25 to 44 years age group, followed by $52,375 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 $22,584.

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 Mount Pleasant.

FIGURE 1

Mount Pleasant, TN median household income by age of householder

It offers a clear illustration of the differences in median household incomes in Mount Pleasant, 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 65 years and over age group demonstrated a remarkable increase of $12,581(31.62%), escalating from a median of $39,794 in 2012 to $52,375 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 $31,572(58.30%), declining from a median of $54,156 in 2012 to $22,584 in 2022.

Mount Pleasant, TN household income distribution across age groups

To gain a comprehensive understanding of the financial landscape within the Mount Pleasant 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 105(5.25%) households where the householder is under 25 years old, 577(28.86%) households with a householder aged between 25 and 44 years, 861(43.07%) households with a householder aged between 45 and 64 years, and 456(22.81%) 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 Mount Pleasant, showcasing varying income levels among different age demographics.

FIGURE 2

Mount Pleasant, TN household income distribution across age groups

Household income distribution across 16 income brackets among four distinct age groups in Mount Pleasant: 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 Pleasant when compared to the state of Tennessee 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 noteworthy that no households in Mount Pleasant, where householders are under 25 years old, fall within or exceed the income bracket representing the median income of $66,677 for the state of Tennessee. This indicates an income disparity among households headed by individuals under 25 years old when compared to the median income of the state.
• Householder 25 to 44 years: In Mount Pleasant, among households headed by individuals aged 25 to 44, an impressive 53.03% match or surpass the state of Tennessee median income of $66,677. These 306 households, represent a significant portion of the total 577 households in Mount Pleasant within 25-44 years age group, reflecting commendable financial well-being within the state boundaries.
• Householder 45 to 64 years: In Mount Pleasant, within the age group of 45 to 64 years, a noteworthy 27.87% of households meet or exceed the state of Tennessee median income of $66,677. These 240 households, out of the total 861 households in this age cohort, signify a notable portion of mature demographic of Mount Pleasant, showcasing commendable financial stability in comparison to the Tennessee state median income benchmark.
• Householder 65 years and over: In Mount Pleasant, among the over 65 years age group, a noteworthy 45.18% of households either match or surpass the state of Tennessee median income of $66,677. These 206 households, constituting notable portion of the Mount Pleasant city senior population, showcase commendable financial stability compared to the Tennessee state median income benchmark.

Things to know

Which age group reports the highest median household income in Mount Pleasant, TN?

In Mount Pleasant, households led by individuals aged 25 to 44 years report the highest median household income of $67,356 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 Pleasant, TN?

In terms of income distribution across age cohorts, in Mount Pleasant, the median household income stands at $67,356 for householders within the 25 to 44 years age group, followed by $52,375 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 $22,584..

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

The median age in Mount Pleasant is 43.5, 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 Pleasant, the age group of 25 to 44 years also exhibits the highest median household income, recorded at $67,356.

References

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