Olive Branch, MS Median Household Income By Age

Olive Branch, 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 Olive Branch population by age, the median age in Olive Branch is 37.6 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 Olive Branch, the age group of 25 to 44 years exhibited the second-highest median household income, recorded at $99,764.

In terms of income distribution across age cohorts, in Olive Branch, householders within the 45 to 64 years age group have the highest median household income at $107,031, followed by those in the 25 to 44 years age group with an income of $99,764. Meanwhile householders within the under 25 years age group report the second lowest median household income of $71,303. Notably, householders within the 65 years and over age group, had the lowest median household income at $68,682.

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 Olive Branch.

FIGURE 1

Olive Branch, MS median household income by age of householder

It offers a clear illustration of the differences in median household incomes in Olive Branch, 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 four age groups with available Census data in both 2013 and 2023, none had a decline during this time period. Notably, household income for individuals within the 65 years and over age group demonstrated a remarkable increase of $18,347(36.45%), escalating from a median of $50,335 in 2013 to $68,682 in 2023. Conversely, the age group of Under 25 years years witnessed the smallest growth in household income across the same span. Their median income saw a small increase of $3,974(5.90%), increasing from a median of $67,329 in 2013 to $71,303 in 2023.

Olive Branch, MS household income distribution across age groups

To gain a comprehensive understanding of the financial landscape within the Olive Branch 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 352(2.07%) households where the householder is under 25 years old, 6,250(36.69%) households with a householder aged between 25 and 44 years, 6,799(39.91%) households with a householder aged between 45 and 64 years, and 3,634(21.33%) households where the householder is over 65 years old.

In Olive Branch, 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

Olive Branch, MS household income distribution across age groups

Household income distribution across 16 income brackets among four distinct age groups in Olive Branch: 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 Olive Branch 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 impressive that 76.70% of the households in Olive Branch, where householders are under 25 years old, are either within or surpass the income bracket representing the median income of $54,915 for the state of Mississippi. These 270 Olive Branch households demonstrate a significant financial standing, aligning with or exceeding the median income of the state.
• Householder 25 to 44 years: In Olive Branch, among households headed by individuals aged 25 to 44, an impressive 83.76% match or surpass the state of Mississippi median income of $54,915. These 5,235 households, represent a significant portion of the total 6,250 households in Olive Branch within 25-44 years age group, reflecting commendable financial well-being within the state boundaries.
• Householder 45 to 64 years: In Olive Branch, within the age group of 45 to 64 years, a remarkable 84.60% of households meet or exceed the state of Mississippi median income of $54,915. These 5,752 households, out of the total 6,799 households in this age cohort, signify a substantial portion of mature demographic of Olive Branch, showcasing commendable financial stability in comparison to the Mississippi state median income benchmark.
• Householder 65 years and over: In Olive Branch, among the over 65 years age group, an impressive 63.79% of households either match or surpass the state of Mississippi median income of $54,915. These 2,318 households, constituting a significant portion of the Olive Branch 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 Olive Branch, MS?

In Olive Branch, households led by individuals aged 45 to 64 years report the highest median household income of $107,031 according to the American Community Survey 2019-2023 5-Year Estimates by the US Census Bureau.

How does the median household income vary by age in Olive Branch, MS?

In terms of income distribution across age cohorts, in Olive Branch, householders within the 45 to 64 years age group have the highest median household income at $107,031, followed by those in the 25 to 44 years age group with an income of $99,764. Meanwhile householders within the under 25 years age group report the second lowest median household income of $71,303. Notably, householders within the 65 years and over age group, had the lowest median household income at $68,682..

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

The median age in Olive Branch is 37.6, 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 Olive Branch, the age group of 25 to 44 years exhibited the second-highest median household income, recorded at $99,764.

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