Round Lake, NY Median Household Income By Age

Per the latest American Community Survey by the Census Bureau, Round Lake sees its highest median household income among householders in the age group of 45 to 64 years old, at $113,779. Overall, the median household income for the village of Round Lake stands at $92,292.
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Updated Aug 9, 2024

Median Household Income by Age of Householder in Round Lake, NY (2022, in 2023 inflation-adjusted dollars)

This table presents the distribution of median household income among distinct age brackets of householders in Round Lake. Based on the latest 5-Year estimates from the American Community Survey, it displays how income varies among householders of different ages in Round Lake.

Age Of The Head Of Household Median Household Income
Under 25 years -
25 to 44 years $70,907
45 to 64 years $113,779
65 years and over $80,461
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Round Lake, NY 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 Round Lake population by age, the median age in Round Lake is 44.9 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 Round Lake, the age group of 45 to 64 years also exhibits the highest median household income, recorded at $113,779.

In terms of income distribution across age cohorts, in Round Lake, the median household income stands at $113,779 for householders within the 45 to 64 years age group, followed by $80,461 for the 65 years and over age group. Notably, householders within the 25 to 44 years age group, had the lowest median household income at $70,907.

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 Round Lake.

FIGURE 1

Round Lake, NY median household income by age of householder

It offers a clear illustration of the differences in median household incomes in Round Lake, 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.

Source: U.S. Census Bureau American Community Survey (ACS) 2018-2022 5-Year Estimates.

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 65 years and over age group demonstrated a remarkable increase of $13,779(20.66%), escalating from a median of $66,682 in 2012 to $80,461 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 $35,513(23.79%), declining from a median of $149,292 in 2012 to $113,779 in 2022.

Round Lake, NY household income distribution across age groups

To gain a comprehensive understanding of the financial landscape within the Round Lake 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 0 households where the householder is under 25 years old, 105(29.17%) households with a householder aged between 25 and 44 years, 175(48.61%) households with a householder aged between 45 and 64 years, and 80(22.22%) households where the householder is over 65 years old.

In Round Lake, 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

Round Lake, NY household income distribution across age groups

Household income distribution across 16 income brackets among four distinct age groups in Round Lake: under 25 years, 25-44 years, 45-64 years, and over 65 years

Source: U.S. Census Bureau American Community Survey (ACS) 2018-2022 5-Year Estimates.

Age-wise distribution of Round Lake household incomes: Comparative analysis across 16 income brackets

Discover the household distribution across 16 income brackets among four distinct age groups in Round Lake: 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 - - - 10
$10,000 - $14,999 - - - -
$15,000 - $19,999 - - - -
$20,000 - $24,999 - - 5 -
$25,000 - $29,999 - - - 2
$30,000 - $34,999 - - - -
$35,000 - $39,999 - - - -
$40,000 - $44,999 - - - 8
$45,000 - $49,999 - 15 - -
$50,000 - $59,999 - 32 15 2
$60,000 - $74,999 - 23 16 8
$75,000 - $99,999 - 8 39 21
$100,000 - $124,999 - 6 41 10
$125,000 - $149,999 - 9 19 7
$150,000 - $199,999 - 7 13 7
$200,000 or more - 5 27 5

To further explore the income distribution and gain insights into financial landscape of Round Lake when compared to the state of New York 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: In Round Lake, the comparison with the median income of the state and the nation remains inapplicable as there are no households headed by individuals under 25 years old.
  • Householder 25 to 44 years: In Round Lake, among households headed by individuals aged 25 to 44,worth noting that 33.33% match or surpass the state of New York median income of $84,743. These 35 households, represent a notable portion of the total 105 households in Round Lake within 25-44 years age group, reflecting commendable financial well-being within the state boundaries.
  • Householder 45 to 64 years: In Round Lake, within the age group of 45 to 64 years, a remarkable 79.43% of households meet or exceed the state of New York median income of $84,743. These 139 households, out of the total 175 households in this age cohort, signify a substantial portion of mature demographic of Round Lake, showcasing commendable financial stability in comparison to the New York state median income benchmark.
  • Householder 65 years and over: In Round Lake, among the over 65 years age group, an impressive 62.50% of households either match or surpass the state of New York median income of $84,743. These 50 households, constituting a significant portion of the Round Lake village senior population, showcase commendable financial stability compared to the New York state median income benchmark.

Things to know

Which age group reports the highest median household income in Round Lake, NY?

In Round Lake, households led by individuals aged 45 to 64 years report the highest median household income of $113,779 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 Round Lake, NY?

In terms of income distribution across age cohorts, in Round Lake, the median household income stands at $113,779 for householders within the 45 to 64 years age group, followed by $80,461 for the 65 years and over age group. Notably, householders within the 25 to 44 years age group, had the lowest median household income at $70,907..

How does the median household income for households led by individuals of median age compare in Round Lake, NY?

The median age in Round Lake is 44.9, 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 Round Lake, the age group of 45 to 64 years also exhibits the highest median household income, recorded at $113,779.

References

Notes

The analysis presented in this article is based on estimates derived from the U.S. Census Bureau American Community Survey. While these figures offer valuable insights, they are subject to a margin of error. It is advisable to exercise caution and consider the potential margin of error when interpreting and utilizing this data.

Datasets

Explore datasets by year of publication.
2024
Round Lake, NY Median Income by Age Groups Dataset: A Comprehensive Breakdown of Round Lake Annual Median Income Across 4 Key Age Groups // 2024 Edition
Last updated August 7, 2024
ACS
Free
Neilsberg
CSV, JSON
2018-2022
CC BY 4.0
About this dataset

Context

The dataset presents the distribution of median household income among distinct age brackets of householders in Round Lake. Based on the latest 2018-2022 5-Year Estimates from the American Community Survey, it displays how income varies among householders of different ages in Round Lake. It showcases how household incomes typically rise as the head of the household gets older. The dataset can be utilized to gain insights into age-based household income trends and explore the variations in incomes across households.

Key observations: Insights from 2022

In terms of income distribution across age cohorts, in Round Lake, the median household income stands at $113,779 for householders within the 45 to 64 years age group, followed by $80,461 for the 65 years and over age group. Notably, householders within the 25 to 44 years age group, had the lowest median household income at $70,907.

Content

When available, the data consists of estimates from the U.S. Census Bureau American Community Survey (ACS) 2018-2022 5-Year Estimates. All incomes have been adjusting for inflation and are presented in 2023-inflation-adjusted dollars.

Age groups classifications include:

  • Under 25 years
  • 25 to 44 years
  • 45 to 64 years
  • 65 years and over

Variables / Data Columns

  • Age Of The Head Of Household: This column presents the age of the head of household
  • Median Household Income: Median household income, in 2022 inflation-adjusted dollars for the specific age group

Good to know

Margin of Error

Data in the dataset are based on the estimates and are subject to sampling variability and thus a margin of error. Neilsberg Research recommends using caution when presening these estimates in your research.

Custom data

If you do need custom data for any of your research project, report or presentation, you can contact our research staff at research@neilsberg.com for a feasibility of a custom tabulation on a fee-for-service basis.

Inspiration

Neilsberg Research Team curates, analyze and publishes demographics and economic data from a variety of public and proprietary sources, each of which often includes multiple surveys and programs. The large majority of Neilsberg Research aggregated datasets and insights is made available for free download at https://www.neilsberg.com/research/.

Recommended for further research

This dataset is a part of the main dataset for Round Lake median household income by age. You can refer the same here

Income Bracket Analysis by Age Group Dataset: Age-Wise Distribution of Round Lake, NY Household Incomes Across 16 Income Brackets // 2024 Edition
Last updated August 7, 2024
ACS
Free
Neilsberg
CSV, JSON
2018-2022
CC BY 4.0
About this dataset

Context

The dataset presents the the household distribution across 16 income brackets among four distinct age groups in Round Lake: Under 25 years, 25-44 years, 45-64 years, and over 65 years. The dataset highlights the variation in household income, offering valuable insights into economic trends and disparities within different age categories, aiding in data analysis and decision-making..

Key observations

  • Upon closer examination of the distribution of households among age brackets, it reveals that there are 0 households where the householder is under 25 years old, 105(29.17%) households with a householder aged between 25 and 44 years, 175(48.61%) households with a householder aged between 45 and 64 years, and 80(22.22%) households where the householder is over 65 years old.
  • In Round Lake, 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.
Content

When available, the data consists of estimates from the U.S. Census Bureau American Community Survey (ACS) 2018-2022 5-Year Estimates.

Income brackets:

  • Less than $10,000
  • $10,000 to $14,999
  • $15,000 to $19,999
  • $20,000 to $24,999
  • $25,000 to $29,999
  • $30,000 to $34,999
  • $35,000 to $39,999
  • $40,000 to $44,999
  • $45,000 to $49,999
  • $50,000 to $59,999
  • $60,000 to $74,999
  • $75,000 to $99,999
  • $100,000 to $124,999
  • $125,000 to $149,999
  • $150,000 to $199,999
  • $200,000 or more

Variables / Data Columns

  • Household Income: This column showcases 16 income brackets ranging from Under $10,000 to $200,000+ ( As mentioned above).
  • Under 25 years: The count of households led by a head of household under 25 years old with income within a specified income bracket.
  • 25 to 44 years: The count of households led by a head of household 25 to 44 years old with income within a specified income bracket.
  • 45 to 64 years: The count of households led by a head of household 45 to 64 years old with income within a specified income bracket.
  • 65 years and over: The count of households led by a head of household 65 years and over old with income within a specified income bracket.

Good to know

Margin of Error

Data in the dataset are based on the estimates and are subject to sampling variability and thus a margin of error. Neilsberg Research recommends using caution when presening these estimates in your research.

Custom data

If you do need custom data for any of your research project, report or presentation, you can contact our research staff at research@neilsberg.com for a feasibility of a custom tabulation on a fee-for-service basis.

Inspiration

Neilsberg Research Team curates, analyze and publishes demographics and economic data from a variety of public and proprietary sources, each of which often includes multiple surveys and programs. The large majority of Neilsberg Research aggregated datasets and insights is made available for free download at https://www.neilsberg.com/research/.

Recommended for further research

This dataset is a part of the main dataset for Round Lake median household income by age. You can refer the same here

If you're looking for datasets from another year, please feel free to contact us at research@neilsberg.com and we'll be happy to assist you further.

Explore more

Median household income of places that contain Round Lake (in 2022 dollars)

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Neilsberg Research team are data scientists with expertise in processing, analysis and visualization of big data helping small businesses make right decisions.

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