Median Household Income by Age of Householder in Seven Mile, OH (In 2023 inflation-adjusted dollars)
This table presents the distribution of median household income among distinct age brackets of householders in Seven Mile. Based on the latest 5-Year estimates from the American Community Survey, it displays how income varies among householders of different ages in Seven Mile.
| Age Of The Head Of Household | Median Household Income |
|---|---|
| Under 25 years | - |
| 25 to 44 years | $78,125 |
| 45 to 64 years | $45,341 |
| 65 years and over | $50,179 |
TABLE OF CONTENTS
Seven Mile, OH 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 Seven Mile population by age, the median age in Seven Mile is 40.4 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 Seven Mile, the age group of 25 to 44 years also exhibits the highest median household income, recorded at $78,125.
In terms of income distribution across age cohorts, in Seven Mile, the median household income stands at $78,125 for householders within the 25 to 44 years age group, followed by $50,179 for the 65 years and over age group. Notably, householders within the 45 to 64 years age group, had the lowest median household income at $45,341.
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 Seven Mile.
FIGURE 1
Seven Mile, OH median household income by age of householder
It offers a clear illustration of the differences in median household incomes in Seven Mile, 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 2013 and 2023, one 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 25 to 44 years age group demonstrated a remarkable increase of $28,508(57.46%), escalating from a median of $49,617 in 2013 to $78,125 in 2023. 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 $29,821(39.68%), declining from a median of $75,162 in 2013 to $45,341 in 2023.
Seven Mile, OH household income distribution across age groups
To gain a comprehensive understanding of the financial landscape within the Seven Mile 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 15(5.75%) households where the householder is under 25 years old, 70(26.82%) households with a householder aged between 25 and 44 years, 109(41.76%) households with a householder aged between 45 and 64 years, and 67(25.67%) 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 45 to 64 years bracket. This distribution hints at economic disparities within the village of Seven Mile, showcasing varying income levels among different age demographics.
FIGURE 2
Seven Mile, OH household income distribution across age groups
Household income distribution across 16 income brackets among four distinct age groups in Seven Mile: under 25 years, 25-44 years, 45-64 years, and over 65 years
Age-wise distribution of Seven Mile household incomes: Comparative analysis across 16 income brackets
Discover the household distribution across 16 income brackets among four distinct age groups in Seven Mile: 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 | - | - | 3 | - |
| $10,000 - $14,999 | - | - | 7 | - |
| $15,000 - $19,999 | - | - | - | - |
| $20,000 - $24,999 | - | - | 19 | 12 |
| $25,000 - $29,999 | - | - | 4 | - |
| $30,000 - $34,999 | - | - | 9 | 2 |
| $35,000 - $39,999 | - | - | 3 | 10 |
| $40,000 - $44,999 | - | - | 8 | 2 |
| $45,000 - $49,999 | - | - | 11 | 7 |
| $50,000 - $59,999 | - | 33 | 3 | 21 |
| $60,000 - $74,999 | 3 | - | 3 | 6 |
| $75,000 - $99,999 | 12 | 8 | 12 | - |
| $100,000 - $124,999 | - | 17 | 11 | 4 |
| $125,000 - $149,999 | - | 5 | 13 | - |
| $150,000 - $199,999 | - | 7 | - | - |
| $200,000 or more | - | - | 3 | 3 |
To further explore the income distribution and gain insights into financial landscape of Seven Mile when compared to the state of Ohio 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 100% of the households in Seven Mile, where householders are under 25 years old, are either within or surpass the income bracket representing the median income of $69,680 for the state of Ohio. These 15 Seven Mile households demonstrate a significant financial standing, aligning with or exceeding the median income of the state.
- Householder 25 to 44 years: In Seven Mile, among households headed by individuals aged 25 to 44, an impressive 52.86% match or surpass the state of Ohio median income of $69,680. These 37 households, represent a significant portion of the total 70 households in Seven Mile within 25-44 years age group, reflecting commendable financial well-being within the state boundaries.
- Householder 45 to 64 years: In Seven Mile, within the age group of 45 to 64 years, a noteworthy 38.53% of households meet or exceed the state of Ohio median income of $69,680. These 42 households, out of the total 109 households in this age cohort, signify a notable portion of mature demographic of Seven Mile, showcasing commendable financial stability in comparison to the Ohio state median income benchmark.
- Householder 65 years and over: In Seven Mile, among the over 65 years age group, only 19.40% of households either match or surpass the state of Ohio median income of $69,680. These 13 households, constituting low portion of the Seven Mile village senior population, showcase commendable financial stability compared to the Ohio state median income benchmark.
Things to know
Which age group reports the highest median household income in Seven Mile, OH?
In Seven Mile, households led by individuals aged 25 to 44 years report the highest median household income of $78,125 according to the American Community Survey 2019-2023 5-Year Estimates by the US Census Bureau.
How does the median household income vary by age in Seven Mile, OH?
In terms of income distribution across age cohorts, in Seven Mile, the median household income stands at $78,125 for householders within the 25 to 44 years age group, followed by $50,179 for the 65 years and over age group. Notably, householders within the 45 to 64 years age group, had the lowest median household income at $45,341..
How does the median household income for households led by individuals of median age compare in Seven Mile, OH?
The median age in Seven Mile is 40.4, 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 Seven Mile, the age group of 25 to 44 years also exhibits the highest median household income, recorded at $78,125.
References
- U.S. Census Bureau American Community Survey (ACS) 2019-2023 5-Year Estimates
- Consumer Price Index retroactive series using current methods (R-CPI-U-RS)
