Reeds Spring, MO Median Household Income By Age

Reeds Spring, MO 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 Reeds Spring population by age, the median age in Reeds Spring is 44.5 years.

Typically for a location with median age in this range, it tends to house more established professionals, possibly reflecting stable households and higher earning poptential. Interestingly, within Reeds Spring, the age group of 45 to 64 years also exhibits the highest median household income, recorded at $80,827.

In terms of income distribution across age cohorts, in Reeds Spring, householders within the 45 to 64 years age group have the highest median household income at $80,827, followed by those in the under 25 years age group with an income of $58,136. Meanwhile householders within the 25 to 44 years age group report the second lowest median household income of $49,894. Notably, householders within the 65 years and over age group, had the lowest median household income at $48,158.

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 Reeds Spring.

FIGURE 1

Reeds Spring, MO median household income by age of householder

It offers a clear illustration of the differences in median household incomes in Reeds Spring, 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 four 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 $48,597(150.78%), escalating from a median of $32,230 in 2012 to $80,827 in 2022. Conversely, the age group of 25 to 44 years years witnessed the smallest growth in household income across the same span. Their median income saw a small increase of $12,942(35.02%), increasing from a median of $36,952 in 2012 to $49,894 in 2022.

Reeds Spring, MO household income distribution across age groups

To gain a comprehensive understanding of the financial landscape within the Reeds Spring 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 8(2.37%) households where the householder is under 25 years old, 120(35.50%) households with a householder aged between 25 and 44 years, 101(29.88%) households with a householder aged between 45 and 64 years, and 109(32.25%) households where the householder is over 65 years old.

The age group of 45 to 64 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 Reeds Spring, showcasing varying income levels among different age demographics.

FIGURE 2

Reeds Spring, MO household income distribution across age groups

Household income distribution across 16 income brackets among four distinct age groups in Reeds Spring: 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 Reeds Spring when compared to the state of Missouri 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 25% of the households in Reeds Spring, where householders are under 25 years old, are either within or surpass the income bracket representing the median income of $68,639 for the state of Missouri. These 2 Reeds Spring households demonstrate a significant financial standing, aligning with or exceeding the median income of the state.
• Householder 25 to 44 years: In Reeds Spring, among households headed by individuals aged 25 to 44,noteworthy that only 22.50% match or surpass the state of Missouri median income of $68,639. These 27 households, represent a low portion of the total 120 households in Reeds Spring within 25-44 years age group, reflecting commendable financial well-being within the state boundaries.
• Householder 45 to 64 years: In Reeds Spring, within the age group of 45 to 64 years, a remarkable 56.44% of households meet or exceed the state of Missouri median income of $68,639. These 57 households, out of the total 101 households in this age cohort, signify a substantial portion of mature demographic of Reeds Spring, showcasing commendable financial stability in comparison to the Missouri state median income benchmark.
• Householder 65 years and over: In Reeds Spring, among the over 65 years age group, a noteworthy 41.28% of households either match or surpass the state of Missouri median income of $68,639. These 45 households, constituting notable portion of the Reeds Spring city senior population, showcase commendable financial stability compared to the Missouri state median income benchmark.

Things to know

Which age group reports the highest median household income in Reeds Spring, MO?

In Reeds Spring, households led by individuals aged 45 to 64 years report the highest median household income of $80,827 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 Reeds Spring, MO?

In terms of income distribution across age cohorts, in Reeds Spring, householders within the 45 to 64 years age group have the highest median household income at $80,827, followed by those in the under 25 years age group with an income of $58,136. Meanwhile householders within the 25 to 44 years age group report the second lowest median household income of $49,894. Notably, householders within the 65 years and over age group, had the lowest median household income at $48,158..

How does the median household income for households led by individuals of median age compare in Reeds Spring, MO?

The median age in Reeds Spring is 44.5, which falls within the 45 to 64 years range among the four age groups defined by the US Census Bureau. This demographic tends to house more established professionals, possibly reflecting stable households and higher earning poptential. Interestingly, within Reeds Spring, the age group of 45 to 64 years also exhibits the highest median household income, recorded at $80,827.

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