Phil Campbell, AL Median Household Income By Age

Phil Campbell, AL 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 Phil Campbell population by age, the median age in Phil Campbell is 50.7 years.

Typically for a location with median age in this range, it tends to house more established professionals, possibly reflecting stable households and higher earning poptential. Interestingly, within Phil Campbell, the age group of 45 to 64 years had the second lowest median household income, recorded at $23,266.

In terms of income distribution across age cohorts, in Phil Campbell, the median household income stands at $32,539 for householders within the under 25 years age group, followed by $28,924 for the 65 years and over age group. Notably, householders within the 45 to 64 years age group, had the lowest median household income at $23,266.

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 Phil Campbell.

FIGURE 1

Phil Campbell, AL median household income by age of householder

It offers a clear illustration of the differences in median household incomes in Phil Campbell, 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 65 years and over age group demonstrated the smallest decline of $8,307(22.31%), declining from a median of $37,231 in 2012 to $28,924 in 2022. Conversely, the age group of 45 to 64 years years witnessed the most significant decline in household income across the same span. Their median income saw a substantial drop of $31,746(57.71%), declining from a median of $55,012 in 2012 to $23,266 in 2022.

Phil Campbell, AL household income distribution across age groups

To gain a comprehensive understanding of the financial landscape within the Phil Campbell 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 10(2.80%) households where the householder is under 25 years old, 75(21.01%) households with a householder aged between 25 and 44 years, 150(42.02%) households with a householder aged between 45 and 64 years, and 122(34.17%) households where the householder is over 65 years old.

The age group of under 25 years exhibits the highest median household income, while the largest number of households falls within the 45 to 64 years bracket. This distribution hints at economic disparities within the town of Phil Campbell, showcasing varying income levels among different age demographics.

FIGURE 2

Phil Campbell, AL household income distribution across age groups

Household income distribution across 16 income brackets among four distinct age groups in Phil Campbell: 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 Phil Campbell when compared to the state of Alabama 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 Phil Campbell, where householders are under 25 years old, fall within or exceed the income bracket representing the median income of $62,068 for the state of Alabama. 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 Phil Campbell, among households headed by individuals aged 25 to 44,worth noting that 26.67% match or surpass the state of Alabama median income of $62,068. These 20 households, represent a notable portion of the total 75 households in Phil Campbell within 25-44 years age group, reflecting commendable financial well-being within the state boundaries.
• Householder 45 to 64 years: In Phil Campbell, within the age group of 45 to 64 years, a noteworthy 30% of households meet or exceed the state of Alabama median income of $62,068. These 45 households, out of the total 150 households in this age cohort, signify a notable portion of mature demographic of Phil Campbell, showcasing commendable financial stability in comparison to the Alabama state median income benchmark.
• Householder 65 years and over: In Phil Campbell, among the over 65 years age group, only 12.30% of households either match or surpass the state of Alabama median income of $62,068. These 15 households, constituting low portion of the Phil Campbell town senior population, showcase commendable financial stability compared to the Alabama state median income benchmark.

Things to know

Which age group reports the highest median household income in Phil Campbell, AL?

In Phil Campbell, households led by individuals aged under 25 years report the highest median household income of $32,539 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 Phil Campbell, AL?

In terms of income distribution across age cohorts, in Phil Campbell, the median household income stands at $32,539 for householders within the under 25 years age group, followed by $28,924 for the 65 years and over age group. Notably, householders within the 45 to 64 years age group, had the lowest median household income at $23,266..

How does the median household income for households led by individuals of median age compare in Phil Campbell, AL?

The median age in Phil Campbell is 50.7, which falls within the 45 to 64 years range among the four age groups defined by the US Census Bureau. This demographic tends to house more established professionals, possibly reflecting stable households and higher earning poptential. Interestingly, within Phil Campbell, the age group of 45 to 64 years had the second lowest median household income, recorded at $23,266.

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