Median Household Income by Age of Householder in Rochelle Park Township, New Jersey (In 2023 inflation-adjusted dollars)
This table presents the distribution of median household income among distinct age brackets of householders in Rochelle Park township. Based on the latest 5-Year estimates from the American Community Survey, it displays how income varies among householders of different ages in Rochelle Park township.
| Age Of The Head Of Household | Median Household Income |
|---|---|
| Under 25 years | - |
| 25 to 44 years | $160,169 |
| 45 to 64 years | $140,805 |
| 65 years and over | $102,045 |
TABLE OF CONTENTS
Rochelle Park Township, New Jersey 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 Rochelle Park township population by age, the median age in Rochelle Park township is 48.3 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 Rochelle Park township, the age group of 45 to 64 years exhibited the second-highest median household income, recorded at $140,805.
In terms of income distribution across age cohorts, in Rochelle Park township, the median household income stands at $160,169 for householders within the 25 to 44 years age group, followed by $140,805 for the 45 to 64 years age group. Notably, householders within the 65 years and over age group, had the lowest median household income at $102,045.
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 township of Rochelle Park township.
FIGURE 1
Rochelle Park Township, New Jersey median household income by age of householder
It offers a clear illustration of the differences in median household incomes in Rochelle Park township, 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 2013 and 2023, none had a decline during this time period. Notably, household income for individuals within the 65 years and over age group demonstrated a remarkable increase of $61,760(153.31%), escalating from a median of $40,285 in 2013 to $102,045 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 $34,044(26.99%), increasing from a median of $126,125 in 2013 to $160,169 in 2023.
Rochelle Park Township, New Jersey household income distribution across age groups
To gain a comprehensive understanding of the financial landscape within the Rochelle Park township 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 156(6.76%) households where the householder is under 25 years old, 481(20.83%) households with a householder aged between 25 and 44 years, 946(40.97%) households with a householder aged between 45 and 64 years, and 726(31.44%) households where the householder is over 65 years old.
The age group of 25 to 44 years exhibits the highest median household income, while the largest number of households falls within the 45 to 64 years bracket. This distribution hints at economic disparities within the township of Rochelle Park township, showcasing varying income levels among different age demographics.
FIGURE 2
Rochelle Park Township, New Jersey household income distribution across age groups
Household income distribution across 16 income brackets among four distinct age groups in Rochelle Park township: under 25 years, 25-44 years, 45-64 years, and over 65 years
Age-wise distribution of Rochelle Park township household incomes: Comparative analysis across 16 income brackets
Discover the household distribution across 16 income brackets among four distinct age groups in Rochelle Park township: 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 | - | 16 | 108 | - |
| $10,000 - $14,999 | - | - | 101 | - |
| $15,000 - $19,999 | - | - | - | 9 |
| $20,000 - $24,999 | - | - | - | - |
| $25,000 - $29,999 | 106 | - | - | - |
| $30,000 - $34,999 | - | - | - | 96 |
| $35,000 - $39,999 | - | 6 | - | - |
| $40,000 - $44,999 | - | - | 18 | 71 |
| $45,000 - $49,999 | - | 31 | 18 | - |
| $50,000 - $59,999 | - | - | - | 61 |
| $60,000 - $74,999 | - | 30 | 44 | - |
| $75,000 - $99,999 | 50 | - | 116 | 117 |
| $100,000 - $124,999 | - | 60 | 49 | 106 |
| $125,000 - $149,999 | - | 95 | 114 | - |
| $150,000 - $199,999 | - | 154 | 93 | 107 |
| $200,000 or more | - | 89 | 285 | 159 |
To further explore the income distribution and gain insights into financial landscape of Rochelle Park township when compared to the state of New Jersey 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 no households in Rochelle Park township, where householders are under 25 years old, fall within or exceed the income bracket representing the median income of $101,050 for the state of New Jersey. This indicates an income disparity among households headed by individuals under 25 years old when compared to the median income of the state.
- Householder 25 to 44 years: In Rochelle Park township, among households headed by individuals aged 25 to 44, an impressive 82.74% match or surpass the state of New Jersey median income of $101,050. These 398 households, represent a significant portion of the total 481 households in Rochelle Park township within 25-44 years age group, reflecting commendable financial well-being within the state boundaries.
- Householder 45 to 64 years: In Rochelle Park township, within the age group of 45 to 64 years, a remarkable 57.19% of households meet or exceed the state of New Jersey median income of $101,050. These 541 households, out of the total 946 households in this age cohort, signify a substantial portion of mature demographic of Rochelle Park township, showcasing commendable financial stability in comparison to the New Jersey state median income benchmark.
- Householder 65 years and over: In Rochelle Park township, among the over 65 years age group, an impressive 51.24% of households either match or surpass the state of New Jersey median income of $101,050. These 372 households, constituting a significant portion of the Rochelle Park township township senior population, showcase commendable financial stability compared to the New Jersey state median income benchmark.
Things to know
Which age group reports the highest median household income in Rochelle Park Township, New Jersey?
In Rochelle Park township, households led by individuals aged 25 to 44 years report the highest median household income of $160,169 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 Rochelle Park Township, New Jersey?
In terms of income distribution across age cohorts, in Rochelle Park township, the median household income stands at $160,169 for householders within the 25 to 44 years age group, followed by $140,805 for the 45 to 64 years age group. Notably, householders within the 65 years and over age group, had the lowest median household income at $102,045..
How does the median household income for households led by individuals of median age compare in Rochelle Park Township, New Jersey?
The median age in Rochelle Park township is 48.3, 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 Rochelle Park township, the age group of 45 to 64 years exhibited the second-highest median household income, recorded at $140,805.
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)
