Median Household Income by Age of Householder in Oak Grove Village, MO (2022, in 2023 inflation-adjusted dollars)
This table presents the distribution of median household income among distinct age brackets of householders in Oak Grove Village. Based on the latest 5-Year estimates from the American Community Survey, it displays how income varies among householders of different ages in Oak Grove Village.
| Age Of The Head Of Household | Median Household Income |
|---|---|
| Under 25 years | - |
| 25 to 44 years | $53,364 |
| 45 to 64 years | $68,983 |
| 65 years and over | - |
TABLE OF CONTENTS
Oak Grove Village, MO 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 Village population by age, the median age in Oak Grove Village is 42.6 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 Oak Grove Village, the age group of 25 to 44 years exhibited the second-highest median household income, recorded at $53,364.
In terms of income distribution across age cohorts, in Oak Grove Village, where there exist only two delineated age groups, the median household income is $68,983 for householders within the 45 to 64 years age group, compared to $53,364 for the 25 to 44 years 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 Oak Grove Village.
FIGURE 1
Oak Grove Village, MO median household income by age of householder
It offers a clear illustration of the differences in median household incomes in Oak Grove Village, 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 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 $39,476(133.79%), escalating from a median of $29,507 in 2012 to $68,983 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 $13,911(35.26%), increasing from a median of $39,453 in 2012 to $53,364 in 2022.
Oak Grove Village, MO household income distribution across age groups
To gain a comprehensive understanding of the financial landscape within the Oak Grove Village 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(10.16%) households where the householder is under 25 years old, 46(35.94%) households with a householder aged between 25 and 44 years, 30(23.44%) households with a householder aged between 45 and 64 years, and 39(30.47%) 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 25 to 44 years bracket. This distribution hints at economic disparities within the village of Oak Grove Village, showcasing varying income levels among different age demographics.
FIGURE 2
Oak Grove Village, MO household income distribution across age groups
Household income distribution across 16 income brackets among four distinct age groups in Oak Grove Village: under 25 years, 25-44 years, 45-64 years, and over 65 years
Age-wise distribution of Oak Grove Village household incomes: Comparative analysis across 16 income brackets
Discover the household distribution across 16 income brackets among four distinct age groups in Oak Grove Village: Under 25 years, 25-44 years, 45-64 years, and over 65 years. This table highlights the variation in household income, offering valuable insights into economic trends and disparities within different age categories.
| Household Income Age of Householder | Under 25 years | 25 to 44 years | 45 to 64 years | 65 years and over |
|---|---|---|---|---|
| Less than $10,000 | - | 5 | - | 4 |
| $10,000 - $14,999 | - | - | - | - |
| $15,000 - $19,999 | - | - | 2 | - |
| $20,000 - $24,999 | - | - | 1 | 9 |
| $25,000 - $29,999 | - | 11 | 4 | 2 |
| $30,000 - $34,999 | - | - | - | - |
| $35,000 - $39,999 | 11 | 3 | 3 | 5 |
| $40,000 - $44,999 | 2 | - | 3 | - |
| $45,000 - $49,999 | - | 4 | - | - |
| $50,000 - $59,999 | - | 1 | 2 | 8 |
| $60,000 - $74,999 | - | 10 | - | - |
| $75,000 - $99,999 | - | 2 | 11 | 8 |
| $100,000 - $124,999 | - | 3 | 1 | - |
| $125,000 - $149,999 | - | 4 | - | 3 |
| $150,000 - $199,999 | - | - | 2 | - |
| $200,000 or more | - | 3 | 1 | - |
To further explore the income distribution and gain insights into financial landscape of Oak Grove Village when compared to the state of Missouri 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 Village, where householders are under 25 years old, fall within or exceed the income bracket representing the median income of $68,639 for the state of Missouri. 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 Village, among households headed by individuals aged 25 to 44,worth noting that 47.83% match or surpass the state of Missouri median income of $68,639. These 22 households, represent a notable portion of the total 46 households in Oak Grove Village within 25-44 years age group, reflecting commendable financial well-being within the state boundaries.
- Householder 45 to 64 years: In Oak Grove Village, within the age group of 45 to 64 years, a noteworthy 50% of households meet or exceed the state of Missouri median income of $68,639. These 15 households, out of the total 30 households in this age cohort, signify a notable portion of mature demographic of Oak Grove Village, showcasing commendable financial stability in comparison to the Missouri state median income benchmark.
- Householder 65 years and over: In Oak Grove Village, among the over 65 years age group, a noteworthy 28.21% of households either match or surpass the state of Missouri median income of $68,639. These 11 households, constituting notable portion of the Oak Grove Village village senior population, showcase commendable financial stability compared to the Missouri state median income benchmark.
Things to know
Which age group reports the highest median household income in Oak Grove Village, MO?
In Oak Grove Village, households led by individuals aged 45 to 64 years report the highest median household income of $68,983 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 Village, MO?
In terms of income distribution across age cohorts, in Oak Grove Village, where there exist only two delineated age groups, the median household income is $68,983 for householders within the 45 to 64 years age group, compared to $53,364 for the 25 to 44 years age group..
How does the median household income for households led by individuals of median age compare in Oak Grove Village, MO?
The median age in Oak Grove Village is 42.6, 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 Oak Grove Village, the age group of 25 to 44 years exhibited the second-highest median household income, recorded at $53,364.
References
- U.S. Census Bureau American Community Survey (ACS) 2018-2022 5-Year Estimates
- Consumer Price Index retroactive series using current methods (R-CPI-U-RS)