Rarden, OH Median Household Income By Age

Rarden, OH 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 Rarden population by age, the median age in Rarden is 43.1 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 Rarden, the age group of 25 to 44 years also exhibits the highest median household income, recorded at $42,952.

In terms of income distribution across age cohorts, Rarden only reports a median household income of $42,952 among householders in 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 village of Rarden.

FIGURE 1

Rarden, OH median household income by age of householder

It offers a clear illustration of the differences in median household incomes in Rarden, 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. Notably, household income for individuals within the 25 to 44 years age group demonstrated the smallest decline of $18,312(29.89%), declining from a median of $61,264 in 2012 to $42,952 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 $18,312(29.89%), declining from a median of $61,264 in 2012 to $42,952 in 2022.

Rarden, OH household income distribution across age groups

To gain a comprehensive understanding of the financial landscape within the Rarden 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 2(3.70%) households where the householder is under 25 years old, 12(22.22%) households with a householder aged between 25 and 44 years, 17(31.48%) households with a householder aged between 45 and 64 years, and 23(42.59%) 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 Rarden, showcasing varying income levels among different age demographics.

FIGURE 2

Rarden, OH household income distribution across age groups

Household income distribution across 16 income brackets among four distinct age groups in Rarden: 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 Rarden when compared to the state of Ohio 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 Rarden, where householders are under 25 years old, fall within or exceed the income bracket representing the median income of $69,753 for the state of Ohio. 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 Rarden, there are no households led by individuals aged 25 to 44, that meet or surpass the state of Ohio median income of $69,753. Thus of the total 12 households in Rarden, where the householder is 25-44 years old, none had an income higher than the median state income.
• Householder 45 to 64 years: In Rarden, within the age group of 45 to 64 years, a noteworthy 35.29% of households meet or exceed the state of Ohio median income of $69,753. These 6 households, out of the total 17 households in this age cohort, signify a notable portion of mature demographic of Rarden, showcasing commendable financial stability in comparison to the Ohio state median income benchmark.
• Householder 65 years and over: In Rarden, among the over 65 years age group, only 13.04% of households either match or surpass the state of Ohio median income of $69,753. These 3 households, constituting low portion of the Rarden village senior population, showcase commendable financial stability compared to the Ohio state median income benchmark.

Things to know

Which age group reports the highest median household income in Rarden, OH?

In Rarden, households led by individuals aged 25 to 44 years report the highest median household income of $42,952 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 Rarden, OH?

In terms of income distribution across age cohorts, Rarden only reports a median household income of $42,952 among householders in the 25 to 44 years age group..

How does the median household income for households led by individuals of median age compare in Rarden, OH?

The median age in Rarden is 43.1, 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 Rarden, the age group of 25 to 44 years also exhibits the highest median household income, recorded at $42,952.

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