Median Household Income by Age of Householder in Rosebud Township, Minnesota (2021, in 2022 inflation-adjusted dollars)
This table presents the distribution of median household income among distinct age brackets of householders in Rosebud township. Based on the latest 5-Year estimates from the American Community Survey, it displays how income varies among householders of different ages in Rosebud township.
Age Of The Head Of Household | Median Household Income |
---|---|
Under 25 years | - |
25 to 44 years | $121,603 |
45 to 64 years | $83,320 |
65 years and over | - |
TABLE OF CONTENTS
Rosebud Township, Minnesota 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 Rosebud township population by age, the median age in Rosebud township is 52.1 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 Rosebud township, the age group of 45 to 64 years exhibited the second-highest median household income, recorded at $83,320.
In terms of income distribution across age cohorts, in Rosebud township, where there exist only two delineated age groups, the median household income is $121,603 for householders within the 25 to 44 years age group, compared to $83,320 for the 45 to 64 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 township of Rosebud township.
![Rosebud Township, Minnesota median household income by age of householder The bar chart shows Rosebud Township, Minnesota median household income by age of householder. All incomes have been adjusted for 2022 inflation using the Consumer Price Index retroactive series (R-CPI-U-RS).](https://i.neilsberg.com/ch/rosebud-township-mn-median-household-income-by-age.jpeg)
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 2011 and 2021, none had a decline during this time period. Notably, household income for individuals within the 25 to 44 years age group demonstrated a remarkable increase of $74,203(156.55%), escalating from a median of $47,400 in 2011 to $121,603 in 2021. Conversely, the age group of 45 to 64 years years witnessed the smallest growth in household income across the same span. Their median income saw a small increase of $5,683(7.32%), increasing from a median of $77,637 in 2011 to $83,320 in 2021.
Rosebud Township, Minnesota household income distribution across age groups
To gain a comprehensive understanding of the financial landscape within the Rosebud 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 6(4.76%) households where the householder is under 25 years old, 22(17.46%) households with a householder aged between 25 and 44 years, 67(53.17%) households with a householder aged between 45 and 64 years, and 31(24.60%) 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 Rosebud township, showcasing varying income levels among different age demographics.
![>Rosebud Township, Minnesota household income distribution across age groups The bar chart displays the distribution of household income in Rosebud Township, Minnesota across different age groups as categorized by the U.S. Census Bureau. It illustrates the number of households within each income bracket across age categories. This visualization offers valuable insights into income disparities and variations across age groups, facilitating data analysis and informed decision-making. It enables the identification of demographics with specific financial statuses within distinct age brackets.](https://i.neilsberg.com/ch/rosebud-township-mn-household-income-by-age-groups.jpeg)
Age-wise distribution of Rosebud township household incomes: Comparative analysis across 16 income brackets
Discover the household distribution across 16 income brackets among four distinct age groups in Rosebud 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 | 2 | - | 8 | - |
$10,000 - $14,999 | - | - | - | 3 |
$15,000 - $19,999 | - | - | 7 | 3 |
$20,000 - $24,999 | - | - | - | - |
$25,000 - $29,999 | - | - | 1 | 2 |
$30,000 - $34,999 | 2 | - | - | 2 |
$35,000 - $39,999 | - | - | - | 2 |
$40,000 - $44,999 | - | 1 | - | 4 |
$45,000 - $49,999 | - | - | 3 | - |
$50,000 - $59,999 | - | - | 2 | 1 |
$60,000 - $74,999 | - | 6 | 10 | - |
$75,000 - $99,999 | 2 | 1 | 5 | 8 |
$100,000 - $124,999 | - | 4 | 9 | 3 |
$125,000 - $149,999 | - | 6 | 5 | 3 |
$150,000 - $199,999 | - | 2 | 17 | - |
$200,000 or more | - | 2 | - | - |
To further explore the income distribution and gain insights into financial landscape of Rosebud township when compared to the state of Minnesota 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 worth noting that 33.33% of the households in Rosebud township, where householders are under 25 years old, are either within or surpass the income bracket representing the median income of $82,338 for the state of Minnesota. These 2 Rosebud township households demonstrate a significant financial standing, aligning with or exceeding the median income of the state.
- Householder 25 to 44 years: In Rosebud township, among households headed by individuals aged 25 to 44, an impressive 68.18% match or surpass the state of Minnesota median income of $82,338. These 15 households, represent a significant portion of the total 22 households in Rosebud township within 25-44 years age group, reflecting commendable financial well-being within the state boundaries.
- Householder 45 to 64 years: In Rosebud township, within the age group of 45 to 64 years, a remarkable 53.73% of households meet or exceed the state of Minnesota median income of $82,338. These 36 households, out of the total 67 households in this age cohort, signify a substantial portion of mature demographic of Rosebud township, showcasing commendable financial stability in comparison to the Minnesota state median income benchmark.
- Householder 65 years and over: In Rosebud township, among the over 65 years age group, a noteworthy 45.16% of households either match or surpass the state of Minnesota median income of $82,338. These 14 households, constituting notable portion of the Rosebud township township senior population, showcase commendable financial stability compared to the Minnesota state median income benchmark.
Things to know
Which age group reports the highest median household income in Rosebud Township, Minnesota?
In Rosebud township, households led by individuals aged 25 to 44 years report the highest median household income of $121,603 according to the American Community Survey 2017-2021 5-Year Estimates by the US Census Bureau.
How does the median household income vary by age in Rosebud Township, Minnesota?
In terms of income distribution across age cohorts, in Rosebud township, where there exist only two delineated age groups, the median household income is $121,603 for householders within the 25 to 44 years age group, compared to $83,320 for the 45 to 64 years age group..
How does the median household income for households led by individuals of median age compare in Rosebud Township, Minnesota?
The median age in Rosebud township is 52.1, 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 Rosebud township, the age group of 45 to 64 years exhibited the second-highest median household income, recorded at $83,320.
References
- U.S. Census Bureau American Community Survey (ACS) 2017-2021 5-Year Estimates
- Consumer Price Index retroactive series using current methods (R-CPI-U-RS)