Red Level, AL Median Household Income By Age

Red Level, AL 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 Red Level population by age, the median age in Red Level is 36.3 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, 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 Red Level. 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 Red Level, where there exist only two delineated age groups, the median household income is $52,713 for householders within the 45 to 64 years age group, compared to $34,275 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 Red Level.

FIGURE 1

Red Level, AL median household income by age of householder

It offers a clear illustration of the differences in median household incomes in Red Level, 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, one groups encountered a decline in their median household income, while the remaining one experienced an increase during this period. Notably, household income for individuals within the 65 years and over age group demonstrated a remarkable increase of $17,605(105.61%), escalating from a median of $16,670 in 2012 to $34,275 in 2022. Conversely, the age group of 45 to 64 years years witnessed the most significant decline in household income across the same span. Their median income saw a substantial drop of $38,617(42.28%), declining from a median of $91,330 in 2012 to $52,713 in 2022.

Red Level, AL household income distribution across age groups

To gain a comprehensive understanding of the financial landscape within the Red Level 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 5(3.14%) households where the householder is under 25 years old, 49(30.82%) households with a householder aged between 25 and 44 years, 78(49.06%) households with a householder aged between 45 and 64 years, and 27(16.98%) households where the householder is over 65 years old.

In Red Level, 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

Red Level, AL household income distribution across age groups

Household income distribution across 16 income brackets among four distinct age groups in Red Level: 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 Red Level when compared to the state of Alabama 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 Red Level, where householders are under 25 years old, fall within or exceed the income bracket representing the median income of $62,068 for the state of Alabama. 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 Red Level, among households headed by individuals aged 25 to 44,worth noting that 46.94% match or surpass the state of Alabama median income of $62,068. These 23 households, represent a notable portion of the total 49 households in Red Level within 25-44 years age group, reflecting commendable financial well-being within the state boundaries.
• Householder 45 to 64 years: In Red Level, within the age group of 45 to 64 years, a noteworthy 38.46% of households meet or exceed the state of Alabama median income of $62,068. These 30 households, out of the total 78 households in this age cohort, signify a notable portion of mature demographic of Red Level, showcasing commendable financial stability in comparison to the Alabama state median income benchmark.
• Householder 65 years and over: In Red Level, among the over 65 years age group, a noteworthy 33.33% of households either match or surpass the state of Alabama median income of $62,068. These 9 households, constituting notable portion of the Red Level town senior population, showcase commendable financial stability compared to the Alabama state median income benchmark.

Things to know

Which age group reports the highest median household income in Red Level, AL?

In Red Level, households led by individuals aged 45 to 64 years report the highest median household income of $52,713 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 Red Level, AL?

In terms of income distribution across age cohorts, in Red Level, where there exist only two delineated age groups, the median household income is $52,713 for householders within the 45 to 64 years age group, compared to $34,275 for the 65 years and over age group..

How does the median household income for households led by individuals of median age compare in Red Level, AL?

The median age in Red Level is 36.3, 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, 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 Red Level. 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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