Royse City, TX Median Household Income By Age

Royse City, TX 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 Royse City population by age, the median age in Royse City is 33.6 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, within Royse City, the age group of 25 to 44 years exhibited the second-highest median household income, recorded at $123,352.

In terms of income distribution across age cohorts, in Royse City, the median household income stands at $130,994 for householders within the 45 to 64 years age group, followed by $123,352 for the 25 to 44 years age group. Notably, householders within the 65 years and over age group, had the lowest median household income at $58,514.

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 city of Royse City.

FIGURE 1

Royse City, TX median household income by age of householder

It offers a clear illustration of the differences in median household incomes in Royse 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 three age groups with available Census data in both 2012 and 2022, none had a decline during this time period. Notably, household income for individuals within the 45 to 64 years age group demonstrated a remarkable increase of $29,119(28.58%), escalating from a median of $101,875 in 2012 to $130,994 in 2022. Conversely, the age group of 65 years and over years witnessed the smallest growth in household income across the same span. Their median income saw a small increase of $3,945(7.23%), increasing from a median of $54,569 in 2012 to $58,514 in 2022.

Royse City, TX household income distribution across age groups

To gain a comprehensive understanding of the financial landscape within the Royse 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 77(1.48%) households where the householder is under 25 years old, 2,606(50.04%) households with a householder aged between 25 and 44 years, 1,873(35.96%) households with a householder aged between 45 and 64 years, and 652(12.52%) households where the householder is over 65 years old.

The age group of 45 to 64 years exhibits the highest median household income, while the largest number of households falls within the 25 to 44 years bracket. This distribution hints at economic disparities within the city of Royse City, showcasing varying income levels among different age demographics.

FIGURE 2

Royse City, TX household income distribution across age groups

Household income distribution across 16 income brackets among four distinct age groups in Royse City: 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 Royse City when compared to the state of Texas 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 impressive that 54.55% of the households in Royse City, where householders are under 25 years old, are either within or surpass the income bracket representing the median income of $76,048 for the state of Texas. These 42 Royse City households demonstrate a significant financial standing, aligning with or exceeding the median income of the state.
• Householder 25 to 44 years: In Royse City, among households headed by individuals aged 25 to 44, an impressive 88.30% match or surpass the state of Texas median income of $76,048. These 2,301 households, represent a significant portion of the total 2,606 households in Royse City within 25-44 years age group, reflecting commendable financial well-being within the state boundaries.
• Householder 45 to 64 years: In Royse City, within the age group of 45 to 64 years, a remarkable 71.54% of households meet or exceed the state of Texas median income of $76,048. These 1,340 households, out of the total 1,873 households in this age cohort, signify a substantial portion of mature demographic of Royse City, showcasing commendable financial stability in comparison to the Texas state median income benchmark.
• Householder 65 years and over: In Royse City, among the over 65 years age group, a noteworthy 33.90% of households either match or surpass the state of Texas median income of $76,048. These 221 households, constituting notable portion of the Royse City city senior population, showcase commendable financial stability compared to the Texas state median income benchmark.

Things to know

Which age group reports the highest median household income in Royse City, TX?

In Royse City, households led by individuals aged 45 to 64 years report the highest median household income of $130,994 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 Royse City, TX?

In terms of income distribution across age cohorts, in Royse City, the median household income stands at $130,994 for householders within the 45 to 64 years age group, followed by $123,352 for the 25 to 44 years age group. Notably, householders within the 65 years and over age group, had the lowest median household income at $58,514..

How does the median household income for households led by individuals of median age compare in Royse City, TX?

The median age in Royse City is 33.6, 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, within Royse City, the age group of 25 to 44 years exhibited the second-highest median household income, recorded at $123,352.

References

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