Rock Hall, MD Median Household Income By Age

Rock Hall, MD 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 Hall population by age, the median age in Rock Hall is 59.7 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 Rock Hall, the age group of 45 to 64 years exhibited the second-highest median household income, recorded at $68,983.

In terms of income distribution across age cohorts, in Rock Hall, the median household income stands at $94,570 for householders within the 25 to 44 years age group, followed by $68,983 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 $47,637.

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 town of Rock Hall.

FIGURE 1

Rock Hall, MD median household income by age of householder

It offers a clear illustration of the differences in median household incomes in Rock Hall, 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 $44,559(89.10%), escalating from a median of $50,011 in 2012 to $94,570 in 2022. Conversely, the age group of 45 to 64 years years witnessed the most significant decline in household income across the same span. Their median income saw a substantial drop of $18,370(21.03%), declining from a median of $87,353 in 2012 to $68,983 in 2022.

Rock Hall, MD household income distribution across age groups

To gain a comprehensive understanding of the financial landscape within the Rock Hall 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 20(2.82%) households where the householder is under 25 years old, 125(17.63%) households with a householder aged between 25 and 44 years, 191(26.94%) households with a householder aged between 45 and 64 years, and 373(52.61%) 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 65 years and over bracket. This distribution hints at economic disparities within the town of Rock Hall, showcasing varying income levels among different age demographics.

FIGURE 2

Rock Hall, MD household income distribution across age groups

Household income distribution across 16 income brackets among four distinct age groups in Rock Hall: 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 Rock Hall when compared to the state of Maryland 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 Hall, where householders are under 25 years old, fall within or exceed the income bracket representing the median income of $102,523 for the state of Maryland. 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 Hall, among households headed by individuals aged 25 to 44,worth noting that 28% match or surpass the state of Maryland median income of $102,523. These 35 households, represent a notable portion of the total 125 households in Rock Hall within 25-44 years age group, reflecting commendable financial well-being within the state boundaries.
• Householder 45 to 64 years: In Rock Hall, within the age group of 45 to 64 years, a noteworthy 34.55% of households meet or exceed the state of Maryland median income of $102,523. These 66 households, out of the total 191 households in this age cohort, signify a notable portion of mature demographic of Rock Hall, showcasing commendable financial stability in comparison to the Maryland state median income benchmark.
• Householder 65 years and over: In Rock Hall, among the over 65 years age group, only 16.62% of households either match or surpass the state of Maryland median income of $102,523. These 62 households, constituting low portion of the Rock Hall town senior population, showcase commendable financial stability compared to the Maryland state median income benchmark.

Things to know

Which age group reports the highest median household income in Rock Hall, MD?

In Rock Hall, households led by individuals aged 25 to 44 years report the highest median household income of $94,570 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 Hall, MD?

In terms of income distribution across age cohorts, in Rock Hall, the median household income stands at $94,570 for householders within the 25 to 44 years age group, followed by $68,983 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 $47,637..

How does the median household income for households led by individuals of median age compare in Rock Hall, MD?

The median age in Rock Hall is 59.7, 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 Rock Hall, the age group of 45 to 64 years exhibited the second-highest median household income, recorded at $68,983.

References

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