North Port, FL Median Household Income By Age

North Port, FL 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 Port population by age, the median age in North Port is 49.5 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 Port, the age group of 45 to 64 years also exhibits the highest median household income, recorded at $99,937.

In terms of income distribution across age cohorts, in North Port, the median household income stands at $99,937 for householders within the 45 to 64 years age group, followed by $88,430 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 $67,498.

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 North Port.

FIGURE 1

North Port, FL median household income by age of householder

It offers a clear illustration of the differences in median household incomes in North Port, 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 $30,344(43.60%), escalating from a median of $69,593 in 2012 to $99,937 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 $12,549(16.54%), increasing from a median of $75,881 in 2012 to $88,430 in 2022.

North Port, FL household income distribution across age groups

To gain a comprehensive understanding of the financial landscape within the North Port 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 316(1.05%) households where the householder is under 25 years old, 6,084(20.19%) households with a householder aged between 25 and 44 years, 11,273(37.42%) households with a householder aged between 45 and 64 years, and 12,456(41.34%) 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 city of North Port, showcasing varying income levels among different age demographics.

FIGURE 2

North Port, FL household income distribution across age groups

Household income distribution across 16 income brackets among four distinct age groups in North Port: 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 Port when compared to the state of Florida 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 37.97% of the households in North Port, where householders are under 25 years old, are either within or surpass the income bracket representing the median income of $70,719 for the state of Florida. These 120 North Port households demonstrate a significant financial standing, aligning with or exceeding the median income of the state.
• Householder 25 to 44 years: In North Port, among households headed by individuals aged 25 to 44, an impressive 67.09% match or surpass the state of Florida median income of $70,719. These 4,082 households, represent a significant portion of the total 6,084 households in North Port within 25-44 years age group, reflecting commendable financial well-being within the state boundaries.
• Householder 45 to 64 years: In North Port, within the age group of 45 to 64 years, a remarkable 69.18% of households meet or exceed the state of Florida median income of $70,719. These 7,799 households, out of the total 11,273 households in this age cohort, signify a substantial portion of mature demographic of North Port, showcasing commendable financial stability in comparison to the Florida state median income benchmark.
• Householder 65 years and over: In North Port, among the over 65 years age group, an impressive 53.69% of households either match or surpass the state of Florida median income of $70,719. These 6,688 households, constituting a significant portion of the North Port city senior population, showcase commendable financial stability compared to the Florida state median income benchmark.

Things to know

Which age group reports the highest median household income in North Port, FL?

In North Port, households led by individuals aged 45 to 64 years report the highest median household income of $99,937 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 Port, FL?

In terms of income distribution across age cohorts, in North Port, the median household income stands at $99,937 for householders within the 45 to 64 years age group, followed by $88,430 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 $67,498..

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

The median age in North Port is 49.5, 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 Port, the age group of 45 to 64 years also exhibits the highest median household income, recorded at $99,937.

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