Mountain Village, AK Median Household Income By Age

Mountain Village, AK 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 Mountain Village population by age, the median age in Mountain Village is 22.6 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 Mountain Village. 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 Mountain Village, where there exist only two delineated age groups, the median household income is $51,738 for householders within the 45 to 64 years age group, compared to $38,588 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 city of Mountain Village.

FIGURE 1

Mountain Village, AK median household income by age of householder

It offers a clear illustration of the differences in median household incomes in Mountain Village, 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, none had an increase in this time period. Notably, household income for individuals within the 45 to 64 years age group demonstrated the smallest decline of $15,182(22.69%), declining from a median of $66,920 in 2012 to $51,738 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 $30,317(44%), declining from a median of $68,905 in 2012 to $38,588 in 2022.

Mountain Village, AK household income distribution across age groups

To gain a comprehensive understanding of the financial landscape within the Mountain Village 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, 66(33%) households with a householder aged between 25 and 44 years, 103(51.50%) households with a householder aged between 45 and 64 years, and 31(15.50%) households where the householder is over 65 years old.

In Mountain Village, 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

Mountain Village, AK household income distribution across age groups

Household income distribution across 16 income brackets among four distinct age groups in Mountain Village: 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 Mountain Village when compared to the state of Alaska 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 Mountain Village, 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 Mountain Village, among households headed by individuals aged 25 to 44,noteworthy that only 15.15% match or surpass the state of Alaska median income of $89,933. These 10 households, represent a low portion of the total 66 households in Mountain Village within 25-44 years age group, reflecting commendable financial well-being within the state boundaries.
• Householder 45 to 64 years: In Mountain Village, within the age group of 45 to 64 years, only 39.81% of households meet or exceed the state of Alaska median income of $89,933. These 41 households, out of the total 103 households in this age cohort, signify a low portion of mature demographic of Mountain Village, showcasing commendable financial stability in comparison to the Alaska state median income benchmark.
• Householder 65 years and over: In Mountain Village, among the over 65 years age group, a noteworthy 48.39% of households either match or surpass the state of Alaska median income of $89,933. These 15 households, constituting notable portion of the Mountain Village city senior population, showcase commendable financial stability compared to the Alaska state median income benchmark.

Things to know

Which age group reports the highest median household income in Mountain Village, AK?

In Mountain Village, households led by individuals aged 45 to 64 years report the highest median household income of $51,738 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 Mountain Village, AK?

In terms of income distribution across age cohorts, in Mountain Village, where there exist only two delineated age groups, the median household income is $51,738 for householders within the 45 to 64 years age group, compared to $38,588 for the 25 to 44 years age group..

How does the median household income for households led by individuals of median age compare in Mountain Village, AK?

The median age in Mountain Village is 22.6, 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 Mountain Village. 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

Notes