Seneca Falls Town, New York Median Household Income By Age

Seneca Falls Town, New York 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 Seneca Falls town population by age, the median age in Seneca Falls town is 45.1 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 Seneca Falls town, the age group of 45 to 64 years also exhibits the highest median household income, recorded at $71,237.

In terms of income distribution across age cohorts, in Seneca Falls town, householders within the 45 to 64 years age group have the highest median household income at $71,237, followed by those in the 25 to 44 years age group with an income of $58,631. Meanwhile householders within the 65 years and over age group report the second lowest median household income of $47,930. Notably, householders within the under 25 years age group, had the lowest median household income at $26,176.

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 Seneca Falls town.

FIGURE 1

Seneca Falls Town, New York median household income by age of householder

It offers a clear illustration of the differences in median household incomes in Seneca Falls town, 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 four age groups with available Census data in both 2012 and 2022, two groups encountered a decline in their median household income, while the remaining two experienced an increase during this period. Notably, household income for individuals within the 65 years and over age group demonstrated a remarkable increase of $3,774(8.55%), escalating from a median of $44,156 in 2012 to $47,930 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 $16,603(18.90%), declining from a median of $87,840 in 2012 to $71,237 in 2022.

Seneca Falls Town, New York household income distribution across age groups

To gain a comprehensive understanding of the financial landscape within the Seneca Falls town 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 214(5.08%) households where the householder is under 25 years old, 1,202(28.54%) households with a householder aged between 25 and 44 years, 1,540(36.57%) households with a householder aged between 45 and 64 years, and 1,255(29.80%) households where the householder is over 65 years old.

In Seneca Falls town, 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

Seneca Falls Town, New York household income distribution across age groups

Household income distribution across 16 income brackets among four distinct age groups in Seneca Falls town: 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 Seneca Falls town 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: It is noteworthy that only 13.55% of the households in Seneca Falls town, where householders are under 25 years old, are either within or surpass the income bracket representing the median income of $84,743 for the state of New York. These 29 Seneca Falls town households demonstrate a significant financial standing, aligning with or exceeding the median income of the state.
• Householder 25 to 44 years: In Seneca Falls town, among households headed by individuals aged 25 to 44,worth noting that 34.44% match or surpass the state of New York median income of $84,743. These 414 households, represent a notable portion of the total 1,202 households in Seneca Falls town within 25-44 years age group, reflecting commendable financial well-being within the state boundaries.
• Householder 45 to 64 years: In Seneca Falls town, within the age group of 45 to 64 years, a noteworthy 46.23% of households meet or exceed the state of New York median income of $84,743. These 712 households, out of the total 1,540 households in this age cohort, signify a notable portion of mature demographic of Seneca Falls town, showcasing commendable financial stability in comparison to the New York state median income benchmark.
• Householder 65 years and over: In Seneca Falls town, among the over 65 years age group, a noteworthy 27.81% of households either match or surpass the state of New York median income of $84,743. These 349 households, constituting notable portion of the Seneca Falls town town 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 Seneca Falls Town, New York?

In Seneca Falls town, households led by individuals aged 45 to 64 years report the highest median household income of $71,237 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 Seneca Falls Town, New York?

In terms of income distribution across age cohorts, in Seneca Falls town, householders within the 45 to 64 years age group have the highest median household income at $71,237, followed by those in the 25 to 44 years age group with an income of $58,631. Meanwhile householders within the 65 years and over age group report the second lowest median household income of $47,930. Notably, householders within the under 25 years age group, had the lowest median household income at $26,176..

How does the median household income for households led by individuals of median age compare in Seneca Falls Town, New York?

The median age in Seneca Falls town is 45.1, 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 Seneca Falls town, the age group of 45 to 64 years also exhibits the highest median household income, recorded at $71,237.

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