Redwater, TX Median Household Income By Age

Redwater, 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 Redwater population by age, the median age in Redwater is 32.4 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 Redwater, the age group of 25 to 44 years exhibited the second-highest median household income, recorded at $63,993.

In terms of income distribution across age cohorts, in Redwater, the median household income stands at $67,495 for householders within the under 25 years age group, followed by $63,993 for the 25 to 44 years age group. Notably, householders within the 65 years and over age group, had the lowest median household income at $50,761.

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 Redwater.

FIGURE 1

Redwater, TX median household income by age of householder

It offers a clear illustration of the differences in median household incomes in Redwater, 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 three age groups with available Census data in both 2012 and 2022, one groups encountered a decline in their median household income, while the remaining two experienced an increase during this period. Notably, household income for individuals within the Under 25 years age group demonstrated a remarkable increase of $64,162(1925.05%), escalating from a median of $3,333 in 2012 to $67,495 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 $3,245(4.83%), declining from a median of $67,238 in 2012 to $63,993 in 2022.

Redwater, TX household income distribution across age groups

To gain a comprehensive understanding of the financial landscape within the Redwater 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 17(4.40%) households where the householder is under 25 years old, 147(38.08%) households with a householder aged between 25 and 44 years, 144(37.31%) households with a householder aged between 45 and 64 years, and 78(20.21%) households where the householder is over 65 years old.

The age group of under 25 years exhibits the highest median household income, while the largest number of households falls within the 25 to 44 years bracket. This distribution hints at economic disparities within the city of Redwater, showcasing varying income levels among different age demographics.

FIGURE 2

Redwater, TX household income distribution across age groups

Household income distribution across 16 income brackets among four distinct age groups in Redwater: 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 Redwater 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: It is worth noting that 47.06% of the households in Redwater, where householders are under 25 years old, are either within or surpass the income bracket representing the median income of $76,048 for the state of Texas. These 8 Redwater households demonstrate a significant financial standing, aligning with or exceeding the median income of the state.
• Householder 25 to 44 years: In Redwater, among households headed by individuals aged 25 to 44,worth noting that 48.30% match or surpass the state of Texas median income of $76,048. These 71 households, represent a notable portion of the total 147 households in Redwater within 25-44 years age group, reflecting commendable financial well-being within the state boundaries.
• Householder 45 to 64 years: In Redwater, within the age group of 45 to 64 years, a noteworthy 33.33% of households meet or exceed the state of Texas median income of $76,048. These 48 households, out of the total 144 households in this age cohort, signify a notable portion of mature demographic of Redwater, showcasing commendable financial stability in comparison to the Texas state median income benchmark.
• Householder 65 years and over: In Redwater, among the over 65 years age group, only 23.08% of households either match or surpass the state of Texas median income of $76,048. These 18 households, constituting low portion of the Redwater 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 Redwater, TX?

In Redwater, households led by individuals aged under 25 years report the highest median household income of $67,495 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 Redwater, TX?

In terms of income distribution across age cohorts, in Redwater, the median household income stands at $67,495 for householders within the under 25 years age group, followed by $63,993 for the 25 to 44 years age group. Notably, householders within the 65 years and over age group, had the lowest median household income at $50,761..

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

The median age in Redwater is 32.4, 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 Redwater, the age group of 25 to 44 years exhibited the second-highest median household income, recorded at $63,993.

References

Notes