North Fayette Township, Pennsylvania Median Household Income By Age

North Fayette Township, Pennsylvania 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 Fayette township population by age, the median age in North Fayette township is 39.9 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 Fayette township, the age group of 25 to 44 years also exhibits the highest median household income, recorded at $126,614.

In terms of income distribution across age cohorts, in North Fayette township, the median household income stands at $126,614 for householders within the 25 to 44 years age group, followed by $116,859 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 $69,926.

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 township of North Fayette township.

FIGURE 1

North Fayette Township, Pennsylvania median household income by age of householder

It offers a clear illustration of the differences in median household incomes in North Fayette township, 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 45 to 64 years age group demonstrated a remarkable increase of $18,462(18.76%), escalating from a median of $98,397 in 2012 to $116,859 in 2022. 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 $15,479(13.93%), increasing from a median of $111,135 in 2012 to $126,614 in 2022.

North Fayette Township, Pennsylvania household income distribution across age groups

To gain a comprehensive understanding of the financial landscape within the North Fayette township 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 105(1.60%) households where the householder is under 25 years old, 2,544(38.72%) households with a householder aged between 25 and 44 years, 2,511(38.21%) households with a householder aged between 45 and 64 years, and 1,411(21.47%) households where the householder is over 65 years old.

In North Fayette township, the age group of 25 to 44 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

North Fayette Township, Pennsylvania household income distribution across age groups

Household income distribution across 16 income brackets among four distinct age groups in North Fayette township: 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 Fayette township 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 worth noting that 49.52% of the households in North Fayette township, where householders are under 25 years old, are either within or surpass the income bracket representing the median income of $76,188 for the state of Pennsylvania. These 52 North Fayette township households demonstrate a significant financial standing, aligning with or exceeding the median income of the state.
• Householder 25 to 44 years: In North Fayette township, among households headed by individuals aged 25 to 44, an impressive 77.32% match or surpass the state of Pennsylvania median income of $76,188. These 1,967 households, represent a significant portion of the total 2,544 households in North Fayette township within 25-44 years age group, reflecting commendable financial well-being within the state boundaries.
• Householder 45 to 64 years: In North Fayette township, within the age group of 45 to 64 years, a remarkable 72.40% of households meet or exceed the state of Pennsylvania median income of $76,188. These 1,818 households, out of the total 2,511 households in this age cohort, signify a substantial portion of mature demographic of North Fayette township, showcasing commendable financial stability in comparison to the Pennsylvania state median income benchmark.
• Householder 65 years and over: In North Fayette township, among the over 65 years age group, a noteworthy 42.74% of households either match or surpass the state of Pennsylvania median income of $76,188. These 603 households, constituting notable portion of the North Fayette township township 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 North Fayette Township, Pennsylvania?

In North Fayette township, households led by individuals aged 25 to 44 years report the highest median household income of $126,614 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 North Fayette Township, Pennsylvania?

In terms of income distribution across age cohorts, in North Fayette township, the median household income stands at $126,614 for householders within the 25 to 44 years age group, followed by $116,859 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 $69,926..

How does the median household income for households led by individuals of median age compare in North Fayette Township, Pennsylvania?

The median age in North Fayette township is 39.9, 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 Fayette township, the age group of 25 to 44 years also exhibits the highest median household income, recorded at $126,614.

References

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