Prairie Rose, ND Median Household Income By Age

Prairie Rose, ND 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 Prairie Rose population by age, the median age in Prairie Rose is 56.5 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, within Prairie Rose, the age group of 45 to 64 years had the second lowest median household income, recorded at $134,061.

In terms of income distribution across age cohorts, in Prairie Rose, the median household income stands at $158,791 for householders within the 25 to 44 years age group, followed by $140,569 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 $134,061.

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 city of Prairie Rose.

FIGURE 1

Prairie Rose, ND median household income by age of householder

It offers a clear illustration of the differences in median household incomes in Prairie Rose, 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 45 to 64 years age group demonstrated the smallest decline of $8,656(6.07%), declining from a median of $142,717 in 2012 to $134,061 in 2022. 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 $32,085(16.81%), declining from a median of $190,876 in 2012 to $158,791 in 2022.

Prairie Rose, ND household income distribution across age groups

To gain a comprehensive understanding of the financial landscape within the Prairie Rose 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, 4(26.67%) households with a householder aged between 25 and 44 years, 5(33.33%) households with a householder aged between 45 and 64 years, and 6(40%) 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 city of Prairie Rose, showcasing varying income levels among different age demographics.

FIGURE 2

Prairie Rose, ND household income distribution across age groups

Household income distribution across 16 income brackets among four distinct age groups in Prairie Rose: 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 Prairie Rose when compared to the state of North 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: In Prairie Rose, 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 Prairie Rose, among households headed by individuals aged 25 to 44, an impressive 100% match or surpass the state of North Dakota median income of $77,010. These 4 households, represent a significant portion of the total 4 households in Prairie Rose within 25-44 years age group, reflecting commendable financial well-being within the state boundaries.
• Householder 45 to 64 years: In Prairie Rose, within the age group of 45 to 64 years, a remarkable 100% of households meet or exceed the state of North Dakota median income of $77,010. These 5 households, out of the total 5 households in this age cohort, signify a substantial portion of mature demographic of Prairie Rose, showcasing commendable financial stability in comparison to the North Dakota state median income benchmark.
• Householder 65 years and over: In Prairie Rose, among the over 65 years age group, an impressive 83.33% of households either match or surpass the state of North Dakota median income of $77,010. These 5 households, constituting a significant portion of the Prairie Rose city senior population, showcase commendable financial stability compared to the North Dakota state median income benchmark.

Things to know

Which age group reports the highest median household income in Prairie Rose, ND?

In Prairie Rose, households led by individuals aged 25 to 44 years report the highest median household income of $158,791 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 Prairie Rose, ND?

In terms of income distribution across age cohorts, in Prairie Rose, the median household income stands at $158,791 for householders within the 25 to 44 years age group, followed by $140,569 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 $134,061..

How does the median household income for households led by individuals of median age compare in Prairie Rose, ND?

The median age in Prairie Rose is 56.5, 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, within Prairie Rose, the age group of 45 to 64 years had the second lowest median household income, recorded at $134,061.

References

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