Median Household Income by Age of Householder in Rio Grande, OH (In 2023 inflation-adjusted dollars)
This table presents the distribution of median household income among distinct age brackets of householders in Rio Grande. Based on the latest 5-Year estimates from the American Community Survey, it displays how income varies among householders of different ages in Rio Grande.
| Age Of The Head Of Household | Median Household Income |
|---|---|
| Under 25 years | - |
| 25 to 44 years | $42,228 |
| 45 to 64 years | - |
| 65 years and over | - |
TABLE OF CONTENTS
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 21.5 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, according to the latest American Community Survey data, the US Census Bureau did not report the median household income for householders in the Under 25 years age group in Rio Grande. 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, Rio Grande only reports a median household income of $42,228 among householders in the 25 to 44 years 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 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. Notably, household income for individuals within the 25 to 44 years age group demonstrated a remarkable increase of $29,259(225.61%), escalating from a median of $12,969 in 2013 to $42,228 in 2023. 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 $29,259(225.61%), increasing from a median of $12,969 in 2013 to $42,228 in 2023.
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 28(11.81%) households where the householder is under 25 years old, 117(49.37%) households with a householder aged between 25 and 44 years, 60(25.32%) households with a householder aged between 45 and 64 years, and 32(13.50%) 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
Age-wise distribution of Rio Grande household incomes: Comparative analysis across 16 income brackets
Discover the household 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. This table highlights the variation in household income, offering valuable insights into economic trends and disparities within different age categories.
| Household Income Age of Householder | Under 25 years | 25 to 44 years | 45 to 64 years | 65 years and over |
|---|---|---|---|---|
| Less than $10,000 | 6 | 3 | 9 | - |
| $10,000 - $14,999 | - | 16 | 13 | 9 |
| $15,000 - $19,999 | 8 | - | 8 | - |
| $20,000 - $24,999 | - | 9 | 8 | 2 |
| $25,000 - $29,999 | - | 3 | - | 8 |
| $30,000 - $34,999 | - | - | - | - |
| $35,000 - $39,999 | 2 | 7 | - | - |
| $40,000 - $44,999 | - | 30 | 3 | - |
| $45,000 - $49,999 | 10 | - | - | - |
| $50,000 - $59,999 | - | 4 | 4 | 2 |
| $60,000 - $74,999 | - | 3 | - | - |
| $75,000 - $99,999 | - | 12 | 4 | 6 |
| $100,000 - $124,999 | 2 | 10 | 1 | 5 |
| $125,000 - $149,999 | - | 7 | 10 | - |
| $150,000 - $199,999 | - | 9 | - | - |
| $200,000 or more | - | 4 | - | - |
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 7.14% 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 $69,680 for the state of Ohio. These 2 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 38.46% match or surpass the state of Ohio median income of $69,680. These 45 households, represent a notable portion of the total 117 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 25% of households meet or exceed the state of Ohio median income of $69,680. These 15 households, out of the total 60 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 34.38% of households either match or surpass the state of Ohio median income of $69,680. These 11 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 $42,228 according to the American Community Survey 2019-2023 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, Rio Grande only reports a median household income of $42,228 among householders in the 25 to 44 years age group..
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 21.5, 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, according to the latest American Community Survey data, the US Census Bureau did not report the median household income for householders in the Under 25 years age group in Rio Grande. 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.
References
- U.S. Census Bureau American Community Survey (ACS) 2019-2023 5-Year Estimates
- Consumer Price Index retroactive series using current methods (R-CPI-U-RS)