Median Household Income by Age of Householder in Otoe, NE (2022, in 2023 inflation-adjusted dollars)
This table presents the distribution of median household income among distinct age brackets of householders in Otoe. Based on the latest 5-Year estimates from the American Community Survey, it displays how income varies among householders of different ages in Otoe.
| Age Of The Head Of Household | Median Household Income |
|---|---|
| Under 25 years | - |
| 25 to 44 years | $35,793 |
| 45 to 64 years | - |
| 65 years and over | - |
TABLE OF CONTENTS
Otoe, NE 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 Otoe population by age, the median age in Otoe is 32.5 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 Otoe, the age group of 25 to 44 years also exhibits the highest median household income, recorded at $35,793.
In terms of income distribution across age cohorts, Otoe only reports a median household income of $35,793 among householders in 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 Otoe.
FIGURE 1
Otoe, NE median household income by age of householder
It offers a clear illustration of the differences in median household incomes in Otoe, 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. Given the absence of data across all age groups in one of the surveyed years (either 2012 or 2022) from the US Census Bureau American Community Survey, conducting a temporal analysis for those age cohorts was unattainable.
Otoe, NE household income distribution across age groups
To gain a comprehensive understanding of the financial landscape within the Otoe 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 2(2.25%) households where the householder is under 25 years old, 33(37.08%) households with a householder aged between 25 and 44 years, 27(30.34%) households with a householder aged between 45 and 64 years, and 27(30.34%) households where the householder is over 65 years old.
In Otoe, the age group of 25 to 44 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
Otoe, NE household income distribution across age groups
Household income distribution across 16 income brackets among four distinct age groups in Otoe: under 25 years, 25-44 years, 45-64 years, and over 65 years
Age-wise distribution of Otoe household incomes: Comparative analysis across 16 income brackets
Discover the household distribution across 16 income brackets among four distinct age groups in Otoe: 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 | - | - | 6 | - |
| $10,000 - $14,999 | - | - | 5 | 2 |
| $15,000 - $19,999 | - | - | - | 6 |
| $20,000 - $24,999 | - | - | 1 | 1 |
| $25,000 - $29,999 | - | 6 | 1 | 2 |
| $30,000 - $34,999 | - | 13 | 2 | - |
| $35,000 - $39,999 | - | 2 | - | 6 |
| $40,000 - $44,999 | - | 6 | - | - |
| $45,000 - $49,999 | - | - | - | - |
| $50,000 - $59,999 | - | - | 1 | - |
| $60,000 - $74,999 | - | - | 1 | - |
| $75,000 - $99,999 | - | 3 | 1 | 7 |
| $100,000 - $124,999 | - | 1 | 5 | 3 |
| $125,000 - $149,999 | 2 | 2 | 2 | - |
| $150,000 - $199,999 | - | - | - | - |
| $200,000 or more | - | - | 2 | - |
To further explore the income distribution and gain insights into financial landscape of Otoe when compared to the state of Nebraska 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 Otoe, where householders are under 25 years old, are either within or surpass the income bracket representing the median income of $74,681 for the state of Nebraska. These 2 Otoe households demonstrate a significant financial standing, aligning with or exceeding the median income of the state.
- Householder 25 to 44 years: In Otoe, among households headed by individuals aged 25 to 44,noteworthy that only 18.18% match or surpass the state of Nebraska median income of $74,681. These 6 households, represent a low portion of the total 33 households in Otoe within 25-44 years age group, reflecting commendable financial well-being within the state boundaries.
- Householder 45 to 64 years: In Otoe, within the age group of 45 to 64 years, only 40.74% of households meet or exceed the state of Nebraska median income of $74,681. These 11 households, out of the total 27 households in this age cohort, signify a low portion of mature demographic of Otoe, showcasing commendable financial stability in comparison to the Nebraska state median income benchmark.
- Householder 65 years and over: In Otoe, among the over 65 years age group, a noteworthy 37.04% of households either match or surpass the state of Nebraska median income of $74,681. These 10 households, constituting notable portion of the Otoe village senior population, showcase commendable financial stability compared to the Nebraska state median income benchmark.
Things to know
Which age group reports the highest median household income in Otoe, NE?
In Otoe, households led by individuals aged 25 to 44 years report the highest median household income of $35,793 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 Otoe, NE?
In terms of income distribution across age cohorts, Otoe only reports a median household income of $35,793 among householders in the 25 to 44 years age group..
How does the median household income for households led by individuals of median age compare in Otoe, NE?
The median age in Otoe is 32.5, 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 Otoe, the age group of 25 to 44 years also exhibits the highest median household income, recorded at $35,793.
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)