Median Household Income by Age of Householder in New Wilmington, PA (2022, in 2023 inflation-adjusted dollars)
This table presents the distribution of median household income among distinct age brackets of householders in New Wilmington. Based on the latest 5-Year estimates from the American Community Survey, it displays how income varies among householders of different ages in New Wilmington.
| Age Of The Head Of Household | Median Household Income |
|---|---|
| Under 25 years | - |
| 25 to 44 years | $121,045 |
| 45 to 64 years | $111,500 |
| 65 years and over | $71,214 |
TABLE OF CONTENTS
New Wilmington, PA 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 New Wilmington population by age, the median age in New Wilmington is 21.5 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 New Wilmington. 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 New Wilmington, the median household income stands at $121,045 for householders within the 25 to 44 years age group, followed by $111,500 for the 45 to 64 years age group. Notably, householders within the 65 years and over age group, had the lowest median household income at $71,214.
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 borough of New Wilmington.
FIGURE 1
New Wilmington, PA median household income by age of householder
It offers a clear illustration of the differences in median household incomes in New Wilmington, 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, none had a decline during this time period. Notably, household income for individuals within the 25 to 44 years age group demonstrated a remarkable increase of $44,796(58.75%), escalating from a median of $76,249 in 2012 to $121,045 in 2022. Conversely, the age group of 65 years and over years witnessed the smallest growth in household income across the same span. Their median income saw a small increase of $12,034(20.33%), increasing from a median of $59,180 in 2012 to $71,214 in 2022.
New Wilmington, PA household income distribution across age groups
To gain a comprehensive understanding of the financial landscape within the New Wilmington 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 55(11.75%) households where the householder is under 25 years old, 103(22.01%) households with a householder aged between 25 and 44 years, 137(29.27%) households with a householder aged between 45 and 64 years, and 173(36.97%) 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 65 years and over bracket. This distribution hints at economic disparities within the borough of New Wilmington, showcasing varying income levels among different age demographics.
FIGURE 2
New Wilmington, PA household income distribution across age groups
Household income distribution across 16 income brackets among four distinct age groups in New Wilmington: under 25 years, 25-44 years, 45-64 years, and over 65 years
Age-wise distribution of New Wilmington household incomes: Comparative analysis across 16 income brackets
Discover the household distribution across 16 income brackets among four distinct age groups in New Wilmington: 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 | - | 4 | - |
| $10,000 - $14,999 | - | - | - | 6 |
| $15,000 - $19,999 | 4 | - | - | 10 |
| $20,000 - $24,999 | 10 | - | 3 | 14 |
| $25,000 - $29,999 | 4 | - | 7 | 1 |
| $30,000 - $34,999 | - | 3 | 6 | 9 |
| $35,000 - $39,999 | - | - | 2 | 12 |
| $40,000 - $44,999 | - | 2 | 10 | 12 |
| $45,000 - $49,999 | - | 17 | - | 16 |
| $50,000 - $59,999 | 4 | 2 | 9 | 2 |
| $60,000 - $74,999 | - | 6 | 11 | 20 |
| $75,000 - $99,999 | - | 10 | 11 | 22 |
| $100,000 - $124,999 | - | 14 | 26 | 29 |
| $125,000 - $149,999 | - | 9 | 19 | 14 |
| $150,000 - $199,999 | - | 35 | 16 | 4 |
| $200,000 or more | - | 5 | 13 | 2 |
To further explore the income distribution and gain insights into financial landscape of New Wilmington when compared to the state of Pennsylvania 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 New Wilmington, where householders are under 25 years old, fall within or exceed the income bracket representing the median income of $76,188 for the state of Pennsylvania. 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 New Wilmington, among households headed by individuals aged 25 to 44, an impressive 70.87% match or surpass the state of Pennsylvania median income of $76,188. These 73 households, represent a significant portion of the total 103 households in New Wilmington within 25-44 years age group, reflecting commendable financial well-being within the state boundaries.
- Householder 45 to 64 years: In New Wilmington, within the age group of 45 to 64 years, a remarkable 62.04% of households meet or exceed the state of Pennsylvania median income of $76,188. These 85 households, out of the total 137 households in this age cohort, signify a substantial portion of mature demographic of New Wilmington, showcasing commendable financial stability in comparison to the Pennsylvania state median income benchmark.
- Householder 65 years and over: In New Wilmington, among the over 65 years age group, a noteworthy 41.04% of households either match or surpass the state of Pennsylvania median income of $76,188. These 71 households, constituting notable portion of the New Wilmington borough senior population, showcase commendable financial stability compared to the Pennsylvania state median income benchmark.
Things to know
Which age group reports the highest median household income in New Wilmington, PA?
In New Wilmington, households led by individuals aged 25 to 44 years report the highest median household income of $121,045 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 New Wilmington, PA?
In terms of income distribution across age cohorts, in New Wilmington, the median household income stands at $121,045 for householders within the 25 to 44 years age group, followed by $111,500 for the 45 to 64 years age group. Notably, householders within the 65 years and over age group, had the lowest median household income at $71,214..
How does the median household income for households led by individuals of median age compare in New Wilmington, PA?
The median age in New Wilmington is 21.5, 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 New Wilmington. 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
- 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)