Olympian Village, MO Median Household Income By Age

Olympian 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 Olympian Village population by age, the median age in Olympian Village is 36.7 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 Olympian Village, the age group of 25 to 44 years exhibited the second-highest median household income, recorded at $62,909.

In terms of income distribution across age cohorts, in Olympian Village, householders within the 45 to 64 years age group have the highest median household income at $83,892, followed by those in the 25 to 44 years age group with an income of $62,909. Meanwhile householders within the 65 years and over age group report the second lowest median household income of $51,815. Notably, householders within the under 25 years age group, had the lowest median household income at $20,267.

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 Olympian Village.

FIGURE 1

Olympian Village, MO median household income by age of householder

It offers a clear illustration of the differences in median household incomes in Olympian 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 four 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 $21,378(34.20%), escalating from a median of $62,514 in 2012 to $83,892 in 2022. Conversely, the age group of 65 years and over years witnessed the smallest growth in household income across the same span. Their median income saw a small increase of $1,137(2.24%), increasing from a median of $50,678 in 2012 to $51,815 in 2022.

Olympian Village, MO household income distribution across age groups

To gain a comprehensive understanding of the financial landscape within the Olympian 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 11(3.97%) households where the householder is under 25 years old, 107(38.63%) households with a householder aged between 25 and 44 years, 77(27.80%) households with a householder aged between 45 and 64 years, and 82(29.60%) 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 city of Olympian Village, showcasing varying income levels among different age demographics.

FIGURE 2

Olympian Village, MO household income distribution across age groups

Household income distribution across 16 income brackets among four distinct age groups in Olympian Village: 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 Olympian 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 Olympian 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 Olympian Village, among households headed by individuals aged 25 to 44, an impressive 50.47% match or surpass the state of Missouri median income of $68,639. These 54 households, represent a significant portion of the total 107 households in Olympian Village within 25-44 years age group, reflecting commendable financial well-being within the state boundaries.
• Householder 45 to 64 years: In Olympian Village, within the age group of 45 to 64 years, a remarkable 55.84% of households meet or exceed the state of Missouri median income of $68,639. These 43 households, out of the total 77 households in this age cohort, signify a substantial portion of mature demographic of Olympian Village, showcasing commendable financial stability in comparison to the Missouri state median income benchmark.
• Householder 65 years and over: In Olympian Village, among the over 65 years age group, a noteworthy 42.68% of households either match or surpass the state of Missouri median income of $68,639. These 35 households, constituting notable portion of the Olympian Village city 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 Olympian Village, MO?

In Olympian Village, households led by individuals aged 45 to 64 years report the highest median household income of $83,892 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 Olympian Village, MO?

In terms of income distribution across age cohorts, in Olympian Village, householders within the 45 to 64 years age group have the highest median household income at $83,892, followed by those in the 25 to 44 years age group with an income of $62,909. Meanwhile householders within the 65 years and over age group report the second lowest median household income of $51,815. Notably, householders within the under 25 years age group, had the lowest median household income at $20,267..

How does the median household income for households led by individuals of median age compare in Olympian Village, MO?

The median age in Olympian Village is 36.7, 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 Olympian Village, the age group of 25 to 44 years exhibited the second-highest median household income, recorded at $62,909.

References

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