Oak Grove, LA Median Household Income By Age

Oak Grove, LA 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 Oak Grove population by age, the median age in Oak Grove is 49.2 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 Oak Grove, the age group of 45 to 64 years also exhibits the highest median household income, recorded at $48,809.

In terms of income distribution across age cohorts, in Oak Grove, the median household income stands at $48,809 for householders within the 45 to 64 years age group, followed by $26,899 for the 65 years and over age group. Notably, householders within the under 25 years age group, had the lowest median household income at $19,924.

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 town of Oak Grove.

FIGURE 1

Oak Grove, LA median household income by age of householder

It offers a clear illustration of the differences in median household incomes in Oak Grove, 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, two groups encountered a decline in their median household income, while the remaining one experienced an increase during this period. Notably, household income for individuals within the 45 to 64 years age group demonstrated a remarkable increase of $15,923(48.42%), escalating from a median of $32,886 in 2012 to $48,809 in 2022. Conversely, the age group of Under 25 years years witnessed the most significant decline in household income across the same span. Their median income saw a substantial drop of $35,088(63.78%), declining from a median of $55,012 in 2012 to $19,924 in 2022.

Oak Grove, LA household income distribution across age groups

To gain a comprehensive understanding of the financial landscape within the Oak Grove 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 17(2.90%) households where the householder is under 25 years old, 126(21.47%) households with a householder aged between 25 and 44 years, 284(48.38%) households with a householder aged between 45 and 64 years, and 160(27.26%) households where the householder is over 65 years old.

In Oak Grove, the age group of 45 to 64 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

Oak Grove, LA household income distribution across age groups

Household income distribution across 16 income brackets among four distinct age groups in Oak Grove: 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 Oak Grove when compared to the state of Louisiana 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 noteworthy that no households in Oak Grove, where householders are under 25 years old, fall within or exceed the income bracket representing the median income of $60,238 for the state of Louisiana. This indicates an income disparity among households headed by individuals under 25 years old when compared to the median income of the state.
• Householder 25 to 44 years: In Oak Grove, among households headed by individuals aged 25 to 44,noteworthy that only 23.81% match or surpass the state of Louisiana median income of $60,238. These 30 households, represent a low portion of the total 126 households in Oak Grove within 25-44 years age group, reflecting commendable financial well-being within the state boundaries.
• Householder 45 to 64 years: In Oak Grove, within the age group of 45 to 64 years, only 42.96% of households meet or exceed the state of Louisiana median income of $60,238. These 122 households, out of the total 284 households in this age cohort, signify a low portion of mature demographic of Oak Grove, showcasing commendable financial stability in comparison to the Louisiana state median income benchmark.
• Householder 65 years and over: In Oak Grove, among the over 65 years age group, only 12.50% of households either match or surpass the state of Louisiana median income of $60,238. These 20 households, constituting low portion of the Oak Grove town senior population, showcase commendable financial stability compared to the Louisiana state median income benchmark.

Things to know

Which age group reports the highest median household income in Oak Grove, LA?

In Oak Grove, households led by individuals aged 45 to 64 years report the highest median household income of $48,809 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 Oak Grove, LA?

In terms of income distribution across age cohorts, in Oak Grove, the median household income stands at $48,809 for householders within the 45 to 64 years age group, followed by $26,899 for the 65 years and over age group. Notably, householders within the under 25 years age group, had the lowest median household income at $19,924..

How does the median household income for households led by individuals of median age compare in Oak Grove, LA?

The median age in Oak Grove is 49.2, 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 Oak Grove, the age group of 45 to 64 years also exhibits the highest median household income, recorded at $48,809.

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