Median Household Income by Age of Householder in Newburg, ND (2022, in 2023 inflation-adjusted dollars)
This table presents the distribution of median household income among distinct age brackets of householders in Newburg. Based on the latest 5-Year estimates from the American Community Survey, it displays how income varies among householders of different ages in Newburg.
| Age Of The Head Of Household | Median Household Income |
|---|---|
| Under 25 years | $56,711 |
| 25 to 44 years | - |
| 45 to 64 years | - |
| 65 years and over | - |
TABLE OF CONTENTS
Newburg, ND 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 Newburg population by age, the median age in Newburg is 38.5 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, according to the latest American Community Survey data, the US Census Bureau did not report the median household income for householders in the 25 to 44 years age group in Newburg. 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, Newburg only reports a median household income of $56,711 among householders in the under 25 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 Newburg.
FIGURE 1
Newburg, ND median household income by age of householder
It offers a clear illustration of the differences in median household incomes in Newburg, 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. Given the absence of data across all age groups in one of the surveyed years (either 2012 or 2022) from the US Census Bureau American Community Survey, conducting a temporal analysis for those age cohorts was unattainable.
Newburg, ND household income distribution across age groups
To gain a comprehensive understanding of the financial landscape within the Newburg 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 11(28.95%) households where the householder is under 25 years old, 3(7.89%) households with a householder aged between 25 and 44 years, 11(28.95%) households with a householder aged between 45 and 64 years, and 13(34.21%) households where the householder is over 65 years old.
The age group of under 25 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 city of Newburg, showcasing varying income levels among different age demographics.
FIGURE 2
Newburg, ND household income distribution across age groups
Household income distribution across 16 income brackets among four distinct age groups in Newburg: under 25 years, 25-44 years, 45-64 years, and over 65 years
Age-wise distribution of Newburg household incomes: Comparative analysis across 16 income brackets
Discover the household distribution across 16 income brackets among four distinct age groups in Newburg: 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 | - | - | - | 3 |
| $10,000 - $14,999 | - | - | 4 | - |
| $15,000 - $19,999 | - | - | - | - |
| $20,000 - $24,999 | - | - | - | - |
| $25,000 - $29,999 | - | - | - | 3 |
| $30,000 - $34,999 | - | - | - | - |
| $35,000 - $39,999 | - | - | - | - |
| $40,000 - $44,999 | - | - | - | - |
| $45,000 - $49,999 | - | - | - | 2 |
| $50,000 - $59,999 | 8 | - | - | 2 |
| $60,000 - $74,999 | - | - | 1 | - |
| $75,000 - $99,999 | 3 | - | 4 | 2 |
| $100,000 - $124,999 | - | - | - | - |
| $125,000 - $149,999 | - | 1 | 2 | - |
| $150,000 - $199,999 | - | - | - | 1 |
| $200,000 or more | - | 2 | - | - |
To further explore the income distribution and gain insights into financial landscape of Newburg when compared to the state of North Dakota 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 worth noting that 27.27% of the households in Newburg, where householders are under 25 years old, are either within or surpass the income bracket representing the median income of $77,010 for the state of North Dakota. These 3 Newburg households demonstrate a significant financial standing, aligning with or exceeding the median income of the state.
- Householder 25 to 44 years: In Newburg, among households headed by individuals aged 25 to 44, an impressive 100% match or surpass the state of North Dakota median income of $77,010. These 3 households, represent a significant portion of the total 3 households in Newburg within 25-44 years age group, reflecting commendable financial well-being within the state boundaries.
- Householder 45 to 64 years: In Newburg, within the age group of 45 to 64 years, a remarkable 54.55% of households meet or exceed the state of North Dakota median income of $77,010. These 6 households, out of the total 11 households in this age cohort, signify a substantial portion of mature demographic of Newburg, showcasing commendable financial stability in comparison to the North Dakota state median income benchmark.
- Householder 65 years and over: In Newburg, among the over 65 years age group, only 23.08% of households either match or surpass the state of North Dakota median income of $77,010. These 3 households, constituting low portion of the Newburg city senior population, showcase commendable financial stability compared to the North Dakota state median income benchmark.
Things to know
Which age group reports the highest median household income in Newburg, ND?
In Newburg, households led by individuals aged under 25 years report the highest median household income of $56,711 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 Newburg, ND?
In terms of income distribution across age cohorts, Newburg only reports a median household income of $56,711 among householders in the under 25 years age group..
How does the median household income for households led by individuals of median age compare in Newburg, ND?
The median age in Newburg is 38.5, 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, according to the latest American Community Survey data, the US Census Bureau did not report the median household income for householders in the 25 to 44 years age group in Newburg. 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)