Median Household Income by Age of Householder in Rock City, IL (2022, in 2023 inflation-adjusted dollars)
This table presents the distribution of median household income among distinct age brackets of householders in Rock City. Based on the latest 5-Year estimates from the American Community Survey, it displays how income varies among householders of different ages in Rock City.
| Age Of The Head Of Household | Median Household Income |
|---|---|
| Under 25 years | - |
| 25 to 44 years | - |
| 45 to 64 years | $61,499 |
| 65 years and over | $40,999 |
TABLE OF CONTENTS
Rock City, IL 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 Rock City population by age, the median age in Rock City is 38 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, according to the latest American Community Survey data, the US Census Bureau did not report the median household income for householders in the 25 to 44 years age group in Rock City. 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, in Rock City, where there exist only two delineated age groups, the median household income is $61,499 for householders within the 45 to 64 years age group, compared to $40,999 for the 65 years and over 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 Rock City.
FIGURE 1
Rock City, IL median household income by age of householder
It offers a clear illustration of the differences in median household incomes in Rock City, 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 two age groups with available Census data in both 2012 and 2022, none had an increase in this time period. Notably, household income for individuals within the 45 to 64 years age group demonstrated the smallest decline of $21,019(25.47%), declining from a median of $82,518 in 2012 to $61,499 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 $33,462(44.94%), declining from a median of $74,461 in 2012 to $40,999 in 2022.
Rock City, IL household income distribution across age groups
To gain a comprehensive understanding of the financial landscape within the Rock City 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 1(0.81%) households where the householder is under 25 years old, 31(25%) households with a householder aged between 25 and 44 years, 55(44.35%) households with a householder aged between 45 and 64 years, and 37(29.84%) households where the householder is over 65 years old.
In Rock City, 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
Rock City, IL household income distribution across age groups
Household income distribution across 16 income brackets among four distinct age groups in Rock City: under 25 years, 25-44 years, 45-64 years, and over 65 years
Age-wise distribution of Rock City household incomes: Comparative analysis across 16 income brackets
Discover the household distribution across 16 income brackets among four distinct age groups in Rock City: 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 | - | 2 | - | - |
| $10,000 - $14,999 | - | 1 | 2 | 2 |
| $15,000 - $19,999 | 1 | - | - | 3 |
| $20,000 - $24,999 | - | - | 1 | 5 |
| $25,000 - $29,999 | - | - | - | 3 |
| $30,000 - $34,999 | - | 1 | - | 3 |
| $35,000 - $39,999 | - | 7 | 5 | 3 |
| $40,000 - $44,999 | - | - | 6 | 3 |
| $45,000 - $49,999 | - | - | 6 | - |
| $50,000 - $59,999 | - | 1 | 9 | 3 |
| $60,000 - $74,999 | - | 4 | 5 | 2 |
| $75,000 - $99,999 | - | - | 5 | 8 |
| $100,000 - $124,999 | - | 2 | 6 | 2 |
| $125,000 - $149,999 | - | 10 | 7 | - |
| $150,000 - $199,999 | - | 3 | 1 | - |
| $200,000 or more | - | - | 2 | - |
To further explore the income distribution and gain insights into financial landscape of Rock City when compared to the state of Illinois 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 Rock City, where householders are under 25 years old, fall within or exceed the income bracket representing the median income of $81,668 for the state of Illinois. 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 Rock City, among households headed by individuals aged 25 to 44,worth noting that 48.39% match or surpass the state of Illinois median income of $81,668. These 15 households, represent a notable portion of the total 31 households in Rock City within 25-44 years age group, reflecting commendable financial well-being within the state boundaries.
- Householder 45 to 64 years: In Rock City, within the age group of 45 to 64 years, a noteworthy 38.18% of households meet or exceed the state of Illinois median income of $81,668. These 21 households, out of the total 55 households in this age cohort, signify a notable portion of mature demographic of Rock City, showcasing commendable financial stability in comparison to the Illinois state median income benchmark.
- Householder 65 years and over: In Rock City, among the over 65 years age group, a noteworthy 27.03% of households either match or surpass the state of Illinois median income of $81,668. These 10 households, constituting notable portion of the Rock City village senior population, showcase commendable financial stability compared to the Illinois state median income benchmark.
Things to know
Which age group reports the highest median household income in Rock City, IL?
In Rock City, households led by individuals aged 45 to 64 years report the highest median household income of $61,499 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 Rock City, IL?
In terms of income distribution across age cohorts, in Rock City, where there exist only two delineated age groups, the median household income is $61,499 for householders within the 45 to 64 years age group, compared to $40,999 for the 65 years and over age group..
How does the median household income for households led by individuals of median age compare in Rock City, IL?
The median age in Rock City is 38, 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, according to the latest American Community Survey data, the US Census Bureau did not report the median household income for householders in the 25 to 44 years age group in Rock City. 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) 2018-2022 5-Year Estimates
- Consumer Price Index retroactive series using current methods (R-CPI-U-RS)