Median Household Income by Age of Householder in Oswego Town, New York (In 2023 inflation-adjusted dollars)
This table presents the distribution of median household income among distinct age brackets of householders in Oswego town. Based on the latest 5-Year estimates from the American Community Survey, it displays how income varies among householders of different ages in Oswego town.
| Age Of The Head Of Household | Median Household Income |
|---|---|
| Under 25 years | - |
| 25 to 44 years | $42,360 |
| 45 to 64 years | $122,778 |
| 65 years and over | $72,148 |
TABLE OF CONTENTS
Oswego Town, New York 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 Oswego town population by age, the median age in Oswego town is 20.9 years.
Typically for a location with median age in this range, it likely boasts a youthful population, indication a potential hub for emerging workforce. Interestingly, according to the latest American Community Survey data, the US Census Bureau did not report the median household income for householders in the Under 25 years age group in Oswego town. This absence could be attributed to a smaller working population or fewer household heads within this age range, potentially resulting in less reliable or unavailable data for reporting.
In terms of income distribution across age cohorts, in Oswego town, the median household income stands at $122,778 for householders within the 45 to 64 years age group, followed by $72,148 for the 65 years and over age group. Notably, householders within the 25 to 44 years age group, had the lowest median household income at $42,360.
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 Oswego town.
FIGURE 1
Oswego Town, New York median household income by age of householder
It offers a clear illustration of the differences in median household incomes in Oswego town, 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 2013 and 2023, 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 $26,369(27.35%), escalating from a median of $96,409 in 2013 to $122,778 in 2023. 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 $59,690(58.49%), declining from a median of $102,050 in 2013 to $42,360 in 2023.
Oswego Town, New York household income distribution across age groups
To gain a comprehensive understanding of the financial landscape within the Oswego town 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 42(2.24%) households where the householder is under 25 years old, 551(29.40%) households with a householder aged between 25 and 44 years, 762(40.66%) households with a householder aged between 45 and 64 years, and 519(27.69%) households where the householder is over 65 years old.
In Oswego town, 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
Oswego Town, New York household income distribution across age groups
Household income distribution across 16 income brackets among four distinct age groups in Oswego town: under 25 years, 25-44 years, 45-64 years, and over 65 years
Age-wise distribution of Oswego town household incomes: Comparative analysis across 16 income brackets
Discover the household distribution across 16 income brackets among four distinct age groups in Oswego town: 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 | - | - | 27 | - |
| $10,000 - $14,999 | - | 35 | - | 11 |
| $15,000 - $19,999 | - | 11 | 25 | 12 |
| $20,000 - $24,999 | - | 58 | 13 | - |
| $25,000 - $29,999 | - | 32 | 48 | 11 |
| $30,000 - $34,999 | - | 30 | 18 | 10 |
| $35,000 - $39,999 | - | - | 10 | 41 |
| $40,000 - $44,999 | - | 116 | 9 | 21 |
| $45,000 - $49,999 | - | 55 | - | 29 |
| $50,000 - $59,999 | - | 12 | 39 | 51 |
| $60,000 - $74,999 | - | 45 | 48 | 78 |
| $75,000 - $99,999 | 42 | 56 | 98 | 75 |
| $100,000 - $124,999 | - | 46 | 54 | 88 |
| $125,000 - $149,999 | - | 41 | 91 | 31 |
| $150,000 - $199,999 | - | 9 | 120 | 32 |
| $200,000 or more | - | 5 | 162 | 29 |
To further explore the income distribution and gain insights into financial landscape of Oswego town when compared to the state of New York 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 100% of the households in Oswego town, where householders are under 25 years old, are either within or surpass the income bracket representing the median income of $84,578 for the state of New York. These 42 Oswego town households demonstrate a significant financial standing, aligning with or exceeding the median income of the state.
- Householder 25 to 44 years: In Oswego town, among households headed by individuals aged 25 to 44,worth noting that 28.49% match or surpass the state of New York median income of $84,578. These 157 households, represent a notable portion of the total 551 households in Oswego town within 25-44 years age group, reflecting commendable financial well-being within the state boundaries.
- Householder 45 to 64 years: In Oswego town, within the age group of 45 to 64 years, a remarkable 68.90% of households meet or exceed the state of New York median income of $84,578. These 525 households, out of the total 762 households in this age cohort, signify a substantial portion of mature demographic of Oswego town, showcasing commendable financial stability in comparison to the New York state median income benchmark.
- Householder 65 years and over: In Oswego town, among the over 65 years age group, a noteworthy 49.13% of households either match or surpass the state of New York median income of $84,578. These 255 households, constituting notable portion of the Oswego town town senior population, showcase commendable financial stability compared to the New York state median income benchmark.
Things to know
Which age group reports the highest median household income in Oswego Town, New York?
In Oswego town, households led by individuals aged 45 to 64 years report the highest median household income of $122,778 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 Oswego Town, New York?
In terms of income distribution across age cohorts, in Oswego town, the median household income stands at $122,778 for householders within the 45 to 64 years age group, followed by $72,148 for the 65 years and over age group. Notably, householders within the 25 to 44 years age group, had the lowest median household income at $42,360..
How does the median household income for households led by individuals of median age compare in Oswego Town, New York?
The median age in Oswego town is 20.9, which falls within the Under 25 years range among the four age groups defined by the US Census Bureau. This demographic likely boasts a youthful population, indication a potential hub for emerging workforce. Interestingly, according to the latest American Community Survey data, the US Census Bureau did not report the median household income for householders in the Under 25 years age group in Oswego town. This absence could be attributed to a smaller working population or fewer household heads within this age range, potentially resulting in less reliable or unavailable data for reporting.
References
- U.S. Census Bureau American Community Survey (ACS) 2019-2023 5-Year Estimates
- Consumer Price Index retroactive series using current methods (R-CPI-U-RS)