Sand Fork, WV Median Household Income By Age

Sand Fork, WV 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 Sand Fork population by age, the median age in Sand Fork is 30.7 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 Sand Fork, the age group of 25 to 44 years also exhibits the highest median household income, recorded at $53,765.

In terms of income distribution across age cohorts, Sand Fork only reports a median household income of $53,765 among householders in the 25 to 44 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 town of Sand Fork.

FIGURE 1

Sand Fork, WV median household income by age of householder

It offers a clear illustration of the differences in median household incomes in Sand Fork, 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. Notably, household income for individuals within the 25 to 44 years age group demonstrated a remarkable increase of $28,759(115.01%), escalating from a median of $25,006 in 2012 to $53,765 in 2022. Conversely, the age group of 25 to 44 years years witnessed the smallest growth in household income across the same span. Their median income saw a small increase of $28,759(115.01%), increasing from a median of $25,006 in 2012 to $53,765 in 2022.

Sand Fork, WV household income distribution across age groups

To gain a comprehensive understanding of the financial landscape within the Sand Fork 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(2.78%) households where the householder is under 25 years old, 23(63.89%) households with a householder aged between 25 and 44 years, 2(5.56%) households with a householder aged between 45 and 64 years, and 10(27.78%) households where the householder is over 65 years old.

In Sand Fork, the age group of 25 to 44 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

Sand Fork, WV household income distribution across age groups

Household income distribution across 16 income brackets among four distinct age groups in Sand Fork: 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 Sand Fork when compared to the state of West Virginia 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 Sand Fork, where householders are under 25 years old, fall within or exceed the income bracket representing the median income of $57,495 for the state of West Virginia. 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 Sand Fork, among households headed by individuals aged 25 to 44, an impressive 86.96% match or surpass the state of West Virginia median income of $57,495. These 20 households, represent a significant portion of the total 23 households in Sand Fork within 25-44 years age group, reflecting commendable financial well-being within the state boundaries.
• Householder 45 to 64 years: In Sand Fork, among households led by individuals aged 45 to 64 years, there are no households that meet or surpass the state of West Virginia median income of $57,495. Hence, of the total 2 households in this age group, none achieved an income higher than the West Virginia state median income range.
• Householder 65 years and over: In Sand Fork, among the over 65 years age group, a noteworthy 40% of households either match or surpass the state of West Virginia median income of $57,495. These 4 households, constituting notable portion of the Sand Fork town senior population, showcase commendable financial stability compared to the West Virginia state median income benchmark.

Things to know

Which age group reports the highest median household income in Sand Fork, WV?

In Sand Fork, households led by individuals aged 25 to 44 years report the highest median household income of $53,765 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 Sand Fork, WV?

In terms of income distribution across age cohorts, Sand Fork only reports a median household income of $53,765 among householders in the 25 to 44 years age group..

How does the median household income for households led by individuals of median age compare in Sand Fork, WV?

The median age in Sand Fork is 30.7, 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 Sand Fork, the age group of 25 to 44 years also exhibits the highest median household income, recorded at $53,765.

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