Port Washington North, NY Median Household Income By Age

Port Washington North, NY 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 Port Washington North population by age, the median age in Port Washington North is 54.5 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, according to the latest American Community Survey data, the US Census Bureau did not report the median household income for householders in the 45 to 64 years age group in Port Washington North. 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 Port Washington North, where there exist only two delineated age groups, the median household income is $250,001 for householders within the 25 to 44 years age group, compared to $90,116 for the 65 years and over 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 Port Washington North.

FIGURE 1

Port Washington North, NY median household income by age of householder

It offers a clear illustration of the differences in median household incomes in Port Washington North, 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 2013 and 2023, none had a decline during this time period. Notably, household income for individuals within the 25 to 44 years age group demonstrated a remarkable increase of $79,331(46.48%), escalating from a median of $170,670 in 2013 to $250,001 in 2023. 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 $12,801(16.56%), increasing from a median of $77,315 in 2013 to $90,116 in 2023.

Port Washington North, NY household income distribution across age groups

To gain a comprehensive understanding of the financial landscape within the Port Washington North 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 0 households where the householder is under 25 years old, 215(14.34%) households with a householder aged between 25 and 44 years, 564(37.63%) households with a householder aged between 45 and 64 years, and 720(48.03%) households where the householder is over 65 years old.

The age group of 25 to 44 years exhibits the highest median household income, while the largest number of households falls within the 65 years and over bracket. This distribution hints at economic disparities within the village of Port Washington North, showcasing varying income levels among different age demographics.

FIGURE 2

Port Washington North, NY household income distribution across age groups

Household income distribution across 16 income brackets among four distinct age groups in Port Washington North: 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 Port Washington North 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: In Port Washington North, the comparison with the median income of the state and the nation remains inapplicable as there are no households headed by individuals under 25 years old.
• Householder 25 to 44 years: In Port Washington North, among households headed by individuals aged 25 to 44, an impressive 100% match or surpass the state of New York median income of $84,578. These 215 households, represent a significant portion of the total 215 households in Port Washington North within 25-44 years age group, reflecting commendable financial well-being within the state boundaries.
• Householder 45 to 64 years: In Port Washington North, within the age group of 45 to 64 years, a remarkable 68.09% of households meet or exceed the state of New York median income of $84,578. These 384 households, out of the total 564 households in this age cohort, signify a substantial portion of mature demographic of Port Washington North, showcasing commendable financial stability in comparison to the New York state median income benchmark.
• Householder 65 years and over: In Port Washington North, among the over 65 years age group, an impressive 51.67% of households either match or surpass the state of New York median income of $84,578. These 372 households, constituting a significant portion of the Port Washington North village 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 Port Washington North, NY?

In Port Washington North, households led by individuals aged 25 to 44 years report the highest median household income of $250,001 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 Port Washington North, NY?

In terms of income distribution across age cohorts, in Port Washington North, where there exist only two delineated age groups, the median household income is $250,001 for householders within the 25 to 44 years age group, compared to $90,116 for the 65 years and over age group..

How does the median household income for households led by individuals of median age compare in Port Washington North, NY?

The median age in Port Washington North is 54.5, 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, according to the latest American Community Survey data, the US Census Bureau did not report the median household income for householders in the 45 to 64 years age group in Port Washington North. 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.

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