Median Household Income by Age of Householder in Peever, SD (2022, in 2023 inflation-adjusted dollars)
This table presents the distribution of median household income among distinct age brackets of householders in Peever. Based on the latest 5-Year estimates from the American Community Survey, it displays how income varies among householders of different ages in Peever.
| Age Of The Head Of Household | Median Household Income |
|---|---|
| Under 25 years | - |
| 25 to 44 years | $39,698 |
| 45 to 64 years | - |
| 65 years and over | $40,348 |
TABLE OF CONTENTS
Peever, SD 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 Peever population by age, the median age in Peever is 27.5 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 Peever, the age group of 25 to 44 years exhibited the second-highest median household income, recorded at $39,698.
In terms of income distribution across age cohorts, in Peever, where there exist only two delineated age groups, the median household income is $40,348 for householders within the 65 years and over age group, compared to $39,698 for 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 town of Peever.
FIGURE 1
Peever, SD median household income by age of householder
It offers a clear illustration of the differences in median household incomes in Peever, 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 two age groups with available Census data in both 2012 and 2022, none had an increase in this time period. Notably, household income for individuals within the 25 to 44 years age group demonstrated the smallest decline of $9,064(18.59%), declining from a median of $48,762 in 2012 to $39,698 in 2022. Conversely, the age group of 65 years and over years witnessed the most significant decline in household income across the same span. Their median income saw a substantial drop of $18,416(31.34%), declining from a median of $58,764 in 2012 to $40,348 in 2022.
Peever, SD household income distribution across age groups
To gain a comprehensive understanding of the financial landscape within the Peever 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 1(2%) households where the householder is under 25 years old, 27(54%) households with a householder aged between 25 and 44 years, 17(34%) households with a householder aged between 45 and 64 years, and 5(10%) households where the householder is over 65 years old.
The age group of 65 years and over 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 town of Peever, showcasing varying income levels among different age demographics.
FIGURE 2
Peever, SD household income distribution across age groups
Household income distribution across 16 income brackets among four distinct age groups in Peever: under 25 years, 25-44 years, 45-64 years, and over 65 years
Age-wise distribution of Peever household incomes: Comparative analysis across 16 income brackets
Discover the household distribution across 16 income brackets among four distinct age groups in Peever: 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 | 1 | 3 | 3 | - |
| $10,000 - $14,999 | - | 2 | 1 | 1 |
| $15,000 - $19,999 | - | 2 | 1 | - |
| $20,000 - $24,999 | - | 4 | - | - |
| $25,000 - $29,999 | - | - | - | 1 |
| $30,000 - $34,999 | - | 2 | - | - |
| $35,000 - $39,999 | - | 2 | 3 | 1 |
| $40,000 - $44,999 | - | - | - | - |
| $45,000 - $49,999 | - | - | - | 2 |
| $50,000 - $59,999 | - | 6 | - | - |
| $60,000 - $74,999 | - | - | 1 | - |
| $75,000 - $99,999 | - | 6 | 8 | - |
| $100,000 - $124,999 | - | - | - | - |
| $125,000 - $149,999 | - | - | - | - |
| $150,000 - $199,999 | - | - | - | - |
| $200,000 or more | - | - | - | - |
To further explore the income distribution and gain insights into financial landscape of Peever when compared to the state of South Dakota 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 Peever, where householders are under 25 years old, fall within or exceed the income bracket representing the median income of $72,322 for the state of South Dakota. 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 Peever, among households headed by individuals aged 25 to 44,noteworthy that only 22.22% match or surpass the state of South Dakota median income of $72,322. These 6 households, represent a low portion of the total 27 households in Peever within 25-44 years age group, reflecting commendable financial well-being within the state boundaries.
- Householder 45 to 64 years: In Peever, within the age group of 45 to 64 years, a remarkable 52.94% of households meet or exceed the state of South Dakota median income of $72,322. These 9 households, out of the total 17 households in this age cohort, signify a substantial portion of mature demographic of Peever, showcasing commendable financial stability in comparison to the South Dakota state median income benchmark.
- Householder 65 years and over: In Peever, within the over 65 years age cohort, there are no households that meet or exceed the state of South Dakota median income of $72,322. Therefore, among the total number of households in this senior demographic, none have an income higher than the South Dakota state median income range.
Things to know
Which age group reports the highest median household income in Peever, SD?
In Peever, households led by individuals aged 65 years and over report the highest median household income of $40,348 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 Peever, SD?
In terms of income distribution across age cohorts, in Peever, where there exist only two delineated age groups, the median household income is $40,348 for householders within the 65 years and over age group, compared to $39,698 for the 25 to 44 years age group..
How does the median household income for households led by individuals of median age compare in Peever, SD?
The median age in Peever is 27.5, 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 Peever, the age group of 25 to 44 years exhibited the second-highest median household income, recorded at $39,698.
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)