North Bennington, VT Median Household Income By Age

North Bennington, VT 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 North Bennington population by age, the median age in North Bennington is 36.2 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 North Bennington, the age group of 25 to 44 years also exhibits the highest median household income, recorded at $72,188.

In terms of income distribution across age cohorts, in North Bennington, where there exist only two delineated age groups, the median household income is $72,188 for householders within the 25 to 44 years age group, compared to $62,500 for the 65 years and over 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 village of North Bennington.

FIGURE 1

North Bennington, VT median household income by age of householder

It offers a clear illustration of the differences in median household incomes in North Bennington, 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 2013 and 2023, 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 $18,161(40.96%), escalating from a median of $44,339 in 2013 to $62,500 in 2023. Conversely, the age group of 25 to 44 years years witnessed the smallest growth in household income across the same span. Their median income saw a small increase of $15,650(27.68%), increasing from a median of $56,538 in 2013 to $72,188 in 2023.

North Bennington, VT household income distribution across age groups

To gain a comprehensive understanding of the financial landscape within the North Bennington 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 13(4.25%) households where the householder is under 25 years old, 64(20.92%) households with a householder aged between 25 and 44 years, 83(27.12%) households with a householder aged between 45 and 64 years, and 146(47.71%) 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 village of North Bennington, showcasing varying income levels among different age demographics.

FIGURE 2

North Bennington, VT household income distribution across age groups

Household income distribution across 16 income brackets among four distinct age groups in North Bennington: 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 North Bennington when compared to the state of Vermont 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 impressive that 76.92% of the households in North Bennington, where householders are under 25 years old, are either within or surpass the income bracket representing the median income of $78,024 for the state of Vermont. These 10 North Bennington households demonstrate a significant financial standing, aligning with or exceeding the median income of the state.
• Householder 25 to 44 years: In North Bennington, among households headed by individuals aged 25 to 44,worth noting that 48.44% match or surpass the state of Vermont median income of $78,024. These 31 households, represent a notable portion of the total 64 households in North Bennington within 25-44 years age group, reflecting commendable financial well-being within the state boundaries.
• Householder 45 to 64 years: In North Bennington, within the age group of 45 to 64 years, a noteworthy 39.76% of households meet or exceed the state of Vermont median income of $78,024. These 33 households, out of the total 83 households in this age cohort, signify a notable portion of mature demographic of North Bennington, showcasing commendable financial stability in comparison to the Vermont state median income benchmark.
• Householder 65 years and over: In North Bennington, among the over 65 years age group, a noteworthy 27.40% of households either match or surpass the state of Vermont median income of $78,024. These 40 households, constituting notable portion of the North Bennington village senior population, showcase commendable financial stability compared to the Vermont state median income benchmark.

Things to know

Which age group reports the highest median household income in North Bennington, VT?

In North Bennington, households led by individuals aged 25 to 44 years report the highest median household income of $72,188 according to the American Community Survey 2019-2023 5-Year Estimates by the US Census Bureau.

How does the median household income vary by age in North Bennington, VT?

In terms of income distribution across age cohorts, in North Bennington, where there exist only two delineated age groups, the median household income is $72,188 for householders within the 25 to 44 years age group, compared to $62,500 for the 65 years and over age group..

How does the median household income for households led by individuals of median age compare in North Bennington, VT?

The median age in North Bennington is 36.2, 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 North Bennington, the age group of 25 to 44 years also exhibits the highest median household income, recorded at $72,188.

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