Nags Head, NC Median Household Income By Age

Nags Head, NC 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 Nags Head population by age, the median age in Nags Head is 59.8 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 Nags Head, the age group of 45 to 64 years exhibited the second-highest median household income, recorded at $89,998.

In terms of income distribution across age cohorts, in Nags Head, the median household income stands at $96,348 for householders within the 65 years and over age group, followed by $89,998 for the 45 to 64 years age group. Notably, householders within the under 25 years age group, had the lowest median household income at $44,518.

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 town of Nags Head.

FIGURE 1

Nags Head, NC median household income by age of householder

It offers a clear illustration of the differences in median household incomes in Nags Head, 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 a decline during this time period. Notably, household income for individuals within the 65 years and over age group demonstrated a remarkable increase of $41,592(75.96%), escalating from a median of $54,756 in 2012 to $96,348 in 2022. Conversely, the age group of 45 to 64 years years witnessed the smallest growth in household income across the same span. Their median income saw a small increase of $1,898(2.15%), increasing from a median of $88,100 in 2012 to $89,998 in 2022.

Nags Head, NC household income distribution across age groups

To gain a comprehensive understanding of the financial landscape within the Nags Head 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 126(7.90%) households where the householder is under 25 years old, 175(10.97%) households with a householder aged between 25 and 44 years, 483(30.28%) households with a householder aged between 45 and 64 years, and 811(50.85%) households where the householder is over 65 years old.

In Nags Head, the age group of 65 years and over 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

Nags Head, NC household income distribution across age groups

Household income distribution across 16 income brackets among four distinct age groups in Nags Head: 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 Nags Head when compared to the state of North Carolina 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 only 7.94% of the households in Nags Head, where householders are under 25 years old, are either within or surpass the income bracket representing the median income of $68,916 for the state of North Carolina. These 10 Nags Head households demonstrate a significant financial standing, aligning with or exceeding the median income of the state.
• Householder 25 to 44 years: In Nags Head, among households headed by individuals aged 25 to 44, an impressive 100% match or surpass the state of North Carolina median income of $68,916. These 175 households, represent a significant portion of the total 175 households in Nags Head within 25-44 years age group, reflecting commendable financial well-being within the state boundaries.
• Householder 45 to 64 years: In Nags Head, within the age group of 45 to 64 years, a remarkable 65.63% of households meet or exceed the state of North Carolina median income of $68,916. These 317 households, out of the total 483 households in this age cohort, signify a substantial portion of mature demographic of Nags Head, showcasing commendable financial stability in comparison to the North Carolina state median income benchmark.
• Householder 65 years and over: In Nags Head, among the over 65 years age group, an impressive 77.93% of households either match or surpass the state of North Carolina median income of $68,916. These 632 households, constituting a significant portion of the Nags Head town senior population, showcase commendable financial stability compared to the North Carolina state median income benchmark.

Things to know

Which age group reports the highest median household income in Nags Head, NC?

In Nags Head, households led by individuals aged 65 years and over report the highest median household income of $96,348 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 Nags Head, NC?

In terms of income distribution across age cohorts, in Nags Head, the median household income stands at $96,348 for householders within the 65 years and over age group, followed by $89,998 for the 45 to 64 years age group. Notably, householders within the under 25 years age group, had the lowest median household income at $44,518..

How does the median household income for households led by individuals of median age compare in Nags Head, NC?

The median age in Nags Head is 59.8, 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 Nags Head, the age group of 45 to 64 years exhibited the second-highest median household income, recorded at $89,998.

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