Median Household Income by Age of Householder in Seely Township, Minnesota (2022, in 2023 inflation-adjusted dollars)
This table presents the distribution of median household income among distinct age brackets of householders in Seely township. Based on the latest 5-Year estimates from the American Community Survey, it displays how income varies among householders of different ages in Seely township.
| Age Of The Head Of Household | Median Household Income |
|---|---|
| Under 25 years | - |
| 25 to 44 years | $124,299 |
| 45 to 64 years | - |
| 65 years and over | $76,792 |
TABLE OF CONTENTS
Seely 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 Seely township population by age, the median age in Seely township is 58.8 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, according to the latest American Community Survey data, the US Census Bureau did not report the median household income for householders in the 45 to 64 years age group in Seely township. This absence could be attributed to a smaller working population or fewer household heads within this age range, potentially resulting in less reliable or unavailable data for reporting.
In terms of income distribution across age cohorts, in Seely township, where there exist only two delineated age groups, the median household income is $124,299 for householders within the 25 to 44 years age group, compared to $76,792 for the 65 years and over 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 Seely township.
FIGURE 1
Seely Township, Minnesota median household income by age of householder
It offers a clear illustration of the differences in median household incomes in Seely township, 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 two 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 25 to 44 years age group demonstrated a remarkable increase of $42,614(52.17%), escalating from a median of $81,685 in 2012 to $124,299 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 $5,666(7.97%), increasing from a median of $71,126 in 2012 to $76,792 in 2022.
Seely Township, Minnesota household income distribution across age groups
To gain a comprehensive understanding of the financial landscape within the Seely 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 0 households where the householder is under 25 years old, 9(16.07%) households with a householder aged between 25 and 44 years, 15(26.79%) households with a householder aged between 45 and 64 years, and 32(57.14%) 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 township of Seely township, showcasing varying income levels among different age demographics.
FIGURE 2
Seely Township, Minnesota household income distribution across age groups
Household income distribution across 16 income brackets among four distinct age groups in Seely township: under 25 years, 25-44 years, 45-64 years, and over 65 years
Age-wise distribution of Seely township household incomes: Comparative analysis across 16 income brackets
Discover the household distribution across 16 income brackets among four distinct age groups in Seely 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 |
| $10,000 - $14,999 | - | - | - | 2 |
| $15,000 - $19,999 | - | - | - | 2 |
| $20,000 - $24,999 | - | - | - | 1 |
| $25,000 - $29,999 | - | - | 2 | - |
| $30,000 - $34,999 | - | - | 2 | - |
| $35,000 - $39,999 | - | 1 | 1 | 1 |
| $40,000 - $44,999 | - | - | - | - |
| $45,000 - $49,999 | - | - | 1 | 2 |
| $50,000 - $59,999 | - | - | - | 5 |
| $60,000 - $74,999 | - | 1 | 2 | 1 |
| $75,000 - $99,999 | - | - | 1 | 11 |
| $100,000 - $124,999 | - | 3 | - | 4 |
| $125,000 - $149,999 | - | 1 | - | - |
| $150,000 - $199,999 | - | - | - | - |
| $200,000 or more | - | 3 | 6 | 1 |
To further explore the income distribution and gain insights into financial landscape of Seely 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: In Seely township, 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 Seely township, among households headed by individuals aged 25 to 44, an impressive 77.78% match or surpass the state of Minnesota median income of $87,791. These 7 households, represent a significant portion of the total 9 households in Seely township within 25-44 years age group, reflecting commendable financial well-being within the state boundaries.
- Householder 45 to 64 years: In Seely township, within the age group of 45 to 64 years, a noteworthy 46.67% of households meet or exceed the state of Minnesota median income of $87,791. These 7 households, out of the total 15 households in this age cohort, signify a notable portion of mature demographic of Seely township, showcasing commendable financial stability in comparison to the Minnesota state median income benchmark.
- Householder 65 years and over: In Seely township, among the over 65 years age group, a noteworthy 50% of households either match or surpass the state of Minnesota median income of $87,791. These 16 households, constituting notable portion of the Seely 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 Seely Township, Minnesota?
In Seely township, households led by individuals aged 25 to 44 years report the highest median household income of $124,299 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 Seely Township, Minnesota?
In terms of income distribution across age cohorts, in Seely township, where there exist only two delineated age groups, the median household income is $124,299 for householders within the 25 to 44 years age group, compared to $76,792 for the 65 years and over age group..
How does the median household income for households led by individuals of median age compare in Seely Township, Minnesota?
The median age in Seely township is 58.8, 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, according to the latest American Community Survey data, the US Census Bureau did not report the median household income for householders in the 45 to 64 years age group in Seely township. This absence could be attributed to a smaller working population or fewer household heads within this age range, potentially resulting in less reliable or unavailable data for reporting.
References
- U.S. Census Bureau American Community Survey (ACS) 2018-2022 5-Year Estimates
- Consumer Price Index retroactive series using current methods (R-CPI-U-RS)