Rio Rancho, NM Median Household Income By Age

Rio Rancho, NM 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 Rancho population by age, the median age in Rio Rancho is 39 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 Rio Rancho, the age group of 25 to 44 years exhibited the second-highest median household income, recorded at $85,493.

In terms of income distribution across age cohorts, in Rio Rancho, householders within the 45 to 64 years age group have the highest median household income at $98,662, followed by those in the 25 to 44 years age group with an income of $85,493. Meanwhile householders within the 65 years and over age group report the second lowest median household income of $65,888. Notably, householders within the under 25 years age group, had the lowest median household income at $65,760.

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 Rio Rancho.

FIGURE 1

Rio Rancho, NM median household income by age of householder

It offers a clear illustration of the differences in median household incomes in Rio Rancho, 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, one groups encountered a decline in their median household income, while the remaining three experienced an increase during this period. Notably, household income for individuals within the Under 25 years age group demonstrated a remarkable increase of $33,445(103.50%), escalating from a median of $32,315 in 2012 to $65,760 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 $4,766(5.28%), declining from a median of $90,259 in 2012 to $85,493 in 2022.

Rio Rancho, NM household income distribution across age groups

To gain a comprehensive understanding of the financial landscape within the Rio Rancho 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 791(2.07%) households where the householder is under 25 years old, 12,404(32.48%) households with a householder aged between 25 and 44 years, 14,293(37.43%) households with a householder aged between 45 and 64 years, and 10,702(28.02%) households where the householder is over 65 years old.

In Rio Rancho, 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

Rio Rancho, NM household income distribution across age groups

Household income distribution across 16 income brackets among four distinct age groups in Rio Rancho: 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 Rancho when compared to the state of New Mexico 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 impressive that 52.09% of the households in Rio Rancho, where householders are under 25 years old, are either within or surpass the income bracket representing the median income of $61,144 for the state of New Mexico. These 412 Rio Rancho households demonstrate a significant financial standing, aligning with or exceeding the median income of the state.
• Householder 25 to 44 years: In Rio Rancho, among households headed by individuals aged 25 to 44, an impressive 68.68% match or surpass the state of New Mexico median income of $61,144. These 8,519 households, represent a significant portion of the total 12,404 households in Rio Rancho within 25-44 years age group, reflecting commendable financial well-being within the state boundaries.
• Householder 45 to 64 years: In Rio Rancho, within the age group of 45 to 64 years, a remarkable 73.28% of households meet or exceed the state of New Mexico median income of $61,144. These 10,474 households, out of the total 14,293 households in this age cohort, signify a substantial portion of mature demographic of Rio Rancho, showcasing commendable financial stability in comparison to the New Mexico state median income benchmark.
• Householder 65 years and over: In Rio Rancho, among the over 65 years age group, an impressive 53.10% of households either match or surpass the state of New Mexico median income of $61,144. These 5,683 households, constituting a significant portion of the Rio Rancho city senior population, showcase commendable financial stability compared to the New Mexico state median income benchmark.

Things to know

Which age group reports the highest median household income in Rio Rancho, NM?

In Rio Rancho, households led by individuals aged 45 to 64 years report the highest median household income of $98,662 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 Rancho, NM?

In terms of income distribution across age cohorts, in Rio Rancho, householders within the 45 to 64 years age group have the highest median household income at $98,662, followed by those in the 25 to 44 years age group with an income of $85,493. Meanwhile householders within the 65 years and over age group report the second lowest median household income of $65,888. Notably, householders within the under 25 years age group, had the lowest median household income at $65,760..

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

The median age in Rio Rancho is 39, 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 Rio Rancho, the age group of 25 to 44 years exhibited the second-highest median household income, recorded at $85,493.

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