Rio Grande, OH Median Household Income By Age

Rio Grande, 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 Rio Grande population by age, the median age in Rio Grande is 21.8 years.

Typically for a location with median age in this range, it likely boasts a youthful population, indication a potential hub for emerging workforce. Interestingly, within Rio Grande, the age group of Under 25 years had the second lowest median household income, recorded at $19,654.

In terms of income distribution across age cohorts, in Rio Grande, the median household income stands at $49,785 for householders within the 25 to 44 years age group, followed by $35,468 for the 65 years and over age group. Notably, householders within the under 25 years age group, had the lowest median household income at $19,654.

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 Rio Grande.

FIGURE 1

Rio Grande, OH median household income by age of householder

It offers a clear illustration of the differences in median household incomes in Rio Grande, 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, two 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 25 to 44 years age group demonstrated a remarkable increase of $16,444(49.32%), escalating from a median of $33,341 in 2012 to $49,785 in 2022. Conversely, the age group of 65 years and over years witnessed the most significant decline in household income across the same span. Their median income saw a substantial drop of $33,437(48.53%), declining from a median of $68,905 in 2012 to $35,468 in 2022.

Rio Grande, OH household income distribution across age groups

To gain a comprehensive understanding of the financial landscape within the Rio Grande 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 19(8.26%) households where the householder is under 25 years old, 102(44.35%) households with a householder aged between 25 and 44 years, 62(26.96%) households with a householder aged between 45 and 64 years, and 47(20.43%) households where the householder is over 65 years old.

In Rio Grande, 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

Rio Grande, OH household income distribution across age groups

Household income distribution across 16 income brackets among four distinct age groups in Rio Grande: 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 Rio Grande 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 only 15.79% of the households in Rio Grande, where householders are under 25 years old, are either within or surpass the income bracket representing the median income of $69,753 for the state of Ohio. These 3 Rio Grande households demonstrate a significant financial standing, aligning with or exceeding the median income of the state.
• Householder 25 to 44 years: In Rio Grande, among households headed by individuals aged 25 to 44,worth noting that 33.33% match or surpass the state of Ohio median income of $69,753. These 34 households, represent a notable portion of the total 102 households in Rio Grande within 25-44 years age group, reflecting commendable financial well-being within the state boundaries.
• Householder 45 to 64 years: In Rio Grande, within the age group of 45 to 64 years, a noteworthy 27.42% of households meet or exceed the state of Ohio median income of $69,753. These 17 households, out of the total 62 households in this age cohort, signify a notable portion of mature demographic of Rio Grande, showcasing commendable financial stability in comparison to the Ohio state median income benchmark.
• Householder 65 years and over: In Rio Grande, among the over 65 years age group, a noteworthy 27.66% of households either match or surpass the state of Ohio median income of $69,753. These 13 households, constituting notable portion of the Rio Grande 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 Rio Grande, OH?

In Rio Grande, households led by individuals aged 25 to 44 years report the highest median household income of $49,785 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 Rio Grande, OH?

In terms of income distribution across age cohorts, in Rio Grande, the median household income stands at $49,785 for householders within the 25 to 44 years age group, followed by $35,468 for the 65 years and over age group. Notably, householders within the under 25 years age group, had the lowest median household income at $19,654..

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

The median age in Rio Grande is 21.8, which falls within the Under 25 years range among the four age groups defined by the US Census Bureau. This demographic likely boasts a youthful population, indication a potential hub for emerging workforce. Interestingly, within Rio Grande, the age group of Under 25 years had the second lowest median household income, recorded at $19,654.

References

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