Progreso Lakes, TX Median Household Income By Age

Progreso Lakes, TX 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 Progreso Lakes population by age, the median age in Progreso Lakes is 37.7 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, according to the latest American Community Survey data, the US Census Bureau did not report the median household income for householders in the 25 to 44 years age group in Progreso Lakes. 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 Progreso Lakes, where there exist only two delineated age groups, the median household income is $204,996 for householders within the 45 to 64 years age group, compared to $66,380 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 city of Progreso Lakes.

FIGURE 1

Progreso Lakes, TX median household income by age of householder

It offers a clear illustration of the differences in median household incomes in Progreso Lakes, 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 a decline during this time period. Notably, household income for individuals within the 45 to 64 years age group demonstrated a remarkable increase of $109,205(114%), escalating from a median of $95,791 in 2012 to $204,996 in 2022. 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 $23,871(56.16%), increasing from a median of $42,509 in 2012 to $66,380 in 2022.

Progreso Lakes, TX household income distribution across age groups

To gain a comprehensive understanding of the financial landscape within the Progreso Lakes 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, 20(23.53%) households with a householder aged between 25 and 44 years, 47(55.29%) households with a householder aged between 45 and 64 years, and 18(21.18%) households where the householder is over 65 years old.

In Progreso Lakes, the age group of 45 to 64 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

Progreso Lakes, TX household income distribution across age groups

Household income distribution across 16 income brackets among four distinct age groups in Progreso Lakes: 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 Progreso Lakes when compared to the state of Texas 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 Progreso Lakes, 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 Progreso Lakes, among households headed by individuals aged 25 to 44,worth noting that 50% match or surpass the state of Texas median income of $76,048. These 10 households, represent a notable portion of the total 20 households in Progreso Lakes within 25-44 years age group, reflecting commendable financial well-being within the state boundaries.
• Householder 45 to 64 years: In Progreso Lakes, within the age group of 45 to 64 years, a remarkable 70.21% of households meet or exceed the state of Texas median income of $76,048. These 33 households, out of the total 47 households in this age cohort, signify a substantial portion of mature demographic of Progreso Lakes, showcasing commendable financial stability in comparison to the Texas state median income benchmark.
• Householder 65 years and over: In Progreso Lakes, among the over 65 years age group, a noteworthy 38.89% of households either match or surpass the state of Texas median income of $76,048. These 7 households, constituting notable portion of the Progreso Lakes city senior population, showcase commendable financial stability compared to the Texas state median income benchmark.

Things to know

Which age group reports the highest median household income in Progreso Lakes, TX?

In Progreso Lakes, households led by individuals aged 45 to 64 years report the highest median household income of $204,996 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 Progreso Lakes, TX?

In terms of income distribution across age cohorts, in Progreso Lakes, where there exist only two delineated age groups, the median household income is $204,996 for householders within the 45 to 64 years age group, compared to $66,380 for the 65 years and over age group..

How does the median household income for households led by individuals of median age compare in Progreso Lakes, TX?

The median age in Progreso Lakes is 37.7, 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, according to the latest American Community Survey data, the US Census Bureau did not report the median household income for householders in the 25 to 44 years age group in Progreso Lakes. 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.

References

Notes