Rayville, LA Median Household Income By Age

Rayville, LA 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 Rayville population by age, the median age in Rayville is 31.3 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 Rayville, the age group of 25 to 44 years also exhibits the highest median household income, recorded at $24,776.

In terms of income distribution across age cohorts, in Rayville, where there exist only two delineated age groups, the median household income is $24,776 for householders within the 25 to 44 years age group, compared to $17,484 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 town of Rayville.

FIGURE 1

Rayville, LA median household income by age of householder

It offers a clear illustration of the differences in median household incomes in Rayville, 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 $7,366(29.64%), declining from a median of $24,850 in 2012 to $17,484 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 $24,506(49.73%), declining from a median of $49,282 in 2012 to $24,776 in 2022.

Rayville, LA household income distribution across age groups

To gain a comprehensive understanding of the financial landscape within the Rayville 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 153(13.36%) households where the householder is under 25 years old, 385(33.62%) households with a householder aged between 25 and 44 years, 320(27.95%) households with a householder aged between 45 and 64 years, and 287(25.07%) households where the householder is over 65 years old.

In Rayville, the age group of 25 to 44 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

Rayville, LA household income distribution across age groups

Household income distribution across 16 income brackets among four distinct age groups in Rayville: 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 Rayville when compared to the state of Louisiana 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 only 22.88% of the households in Rayville, where householders are under 25 years old, are either within or surpass the income bracket representing the median income of $60,238 for the state of Louisiana. These 35 Rayville households demonstrate a significant financial standing, aligning with or exceeding the median income of the state.
• Householder 25 to 44 years: In Rayville, among households headed by individuals aged 25 to 44,noteworthy that only 11.69% match or surpass the state of Louisiana median income of $60,238. These 45 households, represent a low portion of the total 385 households in Rayville within 25-44 years age group, reflecting commendable financial well-being within the state boundaries.
• Householder 45 to 64 years: In Rayville, within the age group of 45 to 64 years, only 23.75% of households meet or exceed the state of Louisiana median income of $60,238. These 76 households, out of the total 320 households in this age cohort, signify a low portion of mature demographic of Rayville, showcasing commendable financial stability in comparison to the Louisiana state median income benchmark.
• Householder 65 years and over: In Rayville, among the over 65 years age group, only 16.38% of households either match or surpass the state of Louisiana median income of $60,238. These 47 households, constituting low portion of the Rayville town senior population, showcase commendable financial stability compared to the Louisiana state median income benchmark.

Things to know

Which age group reports the highest median household income in Rayville, LA?

In Rayville, households led by individuals aged 25 to 44 years report the highest median household income of $24,776 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 Rayville, LA?

In terms of income distribution across age cohorts, in Rayville, where there exist only two delineated age groups, the median household income is $24,776 for householders within the 25 to 44 years age group, compared to $17,484 for the 65 years and over age group..

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

The median age in Rayville is 31.3, 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 Rayville, the age group of 25 to 44 years also exhibits the highest median household income, recorded at $24,776.

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