North Hills, NY Median Household Income By Age

North Hills, NY 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 Hills population by age, the median age in North Hills is 55.8 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 North Hills, the age group of 45 to 64 years also exhibits the highest median household income, recorded at $221,682.

In terms of income distribution across age cohorts, in North Hills, the median household income stands at $221,682 for householders within the 45 to 64 years age group, followed by $213,891 for the 25 to 44 years age group. Notably, householders within the 65 years and over age group, had the lowest median household income at $165,299.

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 Hills.

FIGURE 1

North Hills, NY median household income by age of householder

It offers a clear illustration of the differences in median household incomes in North Hills, 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, one groups encountered a decline in their median household income, while the remaining two experienced an increase during this period. Notably, household income for individuals within the 25 to 44 years age group demonstrated a remarkable increase of $56,247(35.68%), escalating from a median of $157,644 in 2012 to $213,891 in 2022. Conversely, the age group of 45 to 64 years years witnessed the most significant decline in household income across the same span. Their median income saw a substantial drop of $19,269(8%), declining from a median of $240,951 in 2012 to $221,682 in 2022.

North Hills, NY household income distribution across age groups

To gain a comprehensive understanding of the financial landscape within the North Hills 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 0 households where the householder is under 25 years old, 366(15.78%) households with a householder aged between 25 and 44 years, 746(32.17%) households with a householder aged between 45 and 64 years, and 1,207(52.05%) households where the householder is over 65 years old.

The age group of 45 to 64 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 Hills, showcasing varying income levels among different age demographics.

FIGURE 2

North Hills, NY household income distribution across age groups

Household income distribution across 16 income brackets among four distinct age groups in North Hills: 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 Hills when compared to the state of New York 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: In North Hills, the comparison with the median income of the state and the nation remains inapplicable as there are no households headed by individuals under 25 years old.
• Householder 25 to 44 years: In North Hills, among households headed by individuals aged 25 to 44, an impressive 100% match or surpass the state of New York median income of $84,743. These 366 households, represent a significant portion of the total 366 households in North Hills within 25-44 years age group, reflecting commendable financial well-being within the state boundaries.
• Householder 45 to 64 years: In North Hills, within the age group of 45 to 64 years, a remarkable 87.40% of households meet or exceed the state of New York median income of $84,743. These 652 households, out of the total 746 households in this age cohort, signify a substantial portion of mature demographic of North Hills, showcasing commendable financial stability in comparison to the New York state median income benchmark.
• Householder 65 years and over: In North Hills, among the over 65 years age group, an impressive 81.69% of households either match or surpass the state of New York median income of $84,743. These 986 households, constituting a significant portion of the North Hills village senior population, showcase commendable financial stability compared to the New York state median income benchmark.

Things to know

Which age group reports the highest median household income in North Hills, NY?

In North Hills, households led by individuals aged 45 to 64 years report the highest median household income of $221,682 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 Hills, NY?

In terms of income distribution across age cohorts, in North Hills, the median household income stands at $221,682 for householders within the 45 to 64 years age group, followed by $213,891 for the 25 to 44 years age group. Notably, householders within the 65 years and over age group, had the lowest median household income at $165,299..

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

The median age in North Hills is 55.8, 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 North Hills, the age group of 45 to 64 years also exhibits the highest median household income, recorded at $221,682.

References

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