Ocean Springs, MS Median Household Income By Age

Ocean Springs, MS 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 Ocean Springs population by age, the median age in Ocean Springs is 41.5 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 Ocean Springs, the age group of 25 to 44 years exhibited the second-highest median household income, recorded at $79,577.

In terms of income distribution across age cohorts, in Ocean Springs, the median household income stands at $101,579 for householders within the 45 to 64 years age group, followed by $79,577 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 $53,900.

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 Ocean Springs.

FIGURE 1

Ocean Springs, MS median household income by age of householder

It offers a clear illustration of the differences in median household incomes in Ocean Springs, 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 45 to 64 years age group demonstrated a remarkable increase of $10,077(11.01%), escalating from a median of $91,502 in 2012 to $101,579 in 2022. Conversely, the age group of 25 to 44 years years witnessed the most significant decline in household income across the same span. Their median income saw a substantial drop of $16,788(17.42%), declining from a median of $96,365 in 2012 to $79,577 in 2022.

Ocean Springs, MS household income distribution across age groups

To gain a comprehensive understanding of the financial landscape within the Ocean Springs 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 130(1.65%) households where the householder is under 25 years old, 2,570(32.52%) households with a householder aged between 25 and 44 years, 3,015(38.15%) households with a householder aged between 45 and 64 years, and 2,187(27.68%) households where the householder is over 65 years old.

In Ocean Springs, 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

Ocean Springs, MS household income distribution across age groups

Household income distribution across 16 income brackets among four distinct age groups in Ocean Springs: 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 Ocean Springs when compared to the state of Mississippi 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 43.08% of the households in Ocean Springs, where householders are under 25 years old, are either within or surpass the income bracket representing the median income of $55,171 for the state of Mississippi. These 56 Ocean Springs households demonstrate a significant financial standing, aligning with or exceeding the median income of the state.
• Householder 25 to 44 years: In Ocean Springs, among households headed by individuals aged 25 to 44, an impressive 69.92% match or surpass the state of Mississippi median income of $55,171. These 1,797 households, represent a significant portion of the total 2,570 households in Ocean Springs within 25-44 years age group, reflecting commendable financial well-being within the state boundaries.
• Householder 45 to 64 years: In Ocean Springs, within the age group of 45 to 64 years, a remarkable 72.44% of households meet or exceed the state of Mississippi median income of $55,171. These 2,184 households, out of the total 3,015 households in this age cohort, signify a substantial portion of mature demographic of Ocean Springs, showcasing commendable financial stability in comparison to the Mississippi state median income benchmark.
• Householder 65 years and over: In Ocean Springs, among the over 65 years age group, an impressive 53.13% of households either match or surpass the state of Mississippi median income of $55,171. These 1,162 households, constituting a significant portion of the Ocean Springs city senior population, showcase commendable financial stability compared to the Mississippi state median income benchmark.

Things to know

Which age group reports the highest median household income in Ocean Springs, MS?

In Ocean Springs, households led by individuals aged 45 to 64 years report the highest median household income of $101,579 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 Ocean Springs, MS?

In terms of income distribution across age cohorts, in Ocean Springs, the median household income stands at $101,579 for householders within the 45 to 64 years age group, followed by $79,577 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 $53,900..

How does the median household income for households led by individuals of median age compare in Ocean Springs, MS?

The median age in Ocean Springs is 41.5, 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 Ocean Springs, the age group of 25 to 44 years exhibited the second-highest median household income, recorded at $79,577.

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