Median Household Income by Age of Householder in Shepherdstown, WV (2022, in 2023 inflation-adjusted dollars)
This table presents the distribution of median household income among distinct age brackets of householders in Shepherdstown. Based on the latest 5-Year estimates from the American Community Survey, it displays how income varies among householders of different ages in Shepherdstown.
| Age Of The Head Of Household | Median Household Income |
|---|---|
| Under 25 years | - |
| 25 to 44 years | $58,770 |
| 45 to 64 years | $95,750 |
| 65 years and over | - |
TABLE OF CONTENTS
Shepherdstown, 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 Shepherdstown population by age, the median age in Shepherdstown is 22.3 years.
Typically for a location with median age in this range, it likely boasts a youthful population, indication a potential hub for emerging workforce. Interestingly, according to the latest American Community Survey data, the US Census Bureau did not report the median household income for householders in the Under 25 years age group in Shepherdstown. 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 Shepherdstown, where there exist only two delineated age groups, the median household income is $95,750 for householders within the 45 to 64 years age group, compared to $58,770 for 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 Shepherdstown.
FIGURE 1
Shepherdstown, WV median household income by age of householder
It offers a clear illustration of the differences in median household incomes in Shepherdstown, 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 an increase in this time period. Notably, household income for individuals within the 25 to 44 years age group demonstrated the smallest decline of $25,269(30.07%), declining from a median of $84,039 in 2012 to $58,770 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 $49,282(33.98%), declining from a median of $145,032 in 2012 to $95,750 in 2022.
Shepherdstown, WV household income distribution across age groups
To gain a comprehensive understanding of the financial landscape within the Shepherdstown 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 24(6.88%) households where the householder is under 25 years old, 131(37.54%) households with a householder aged between 25 and 44 years, 64(18.34%) households with a householder aged between 45 and 64 years, and 130(37.25%) 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 town of Shepherdstown, showcasing varying income levels among different age demographics.
FIGURE 2
Shepherdstown, WV household income distribution across age groups
Household income distribution across 16 income brackets among four distinct age groups in Shepherdstown: under 25 years, 25-44 years, 45-64 years, and over 65 years
Age-wise distribution of Shepherdstown household incomes: Comparative analysis across 16 income brackets
Discover the household distribution across 16 income brackets among four distinct age groups in Shepherdstown: 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 | 16 | - | - | 3 |
| $10,000 - $14,999 | - | - | 3 | - |
| $15,000 - $19,999 | - | - | - | 9 |
| $20,000 - $24,999 | - | 4 | - | 21 |
| $25,000 - $29,999 | - | 12 | - | 9 |
| $30,000 - $34,999 | - | - | 11 | 10 |
| $35,000 - $39,999 | - | - | - | - |
| $40,000 - $44,999 | - | - | - | 4 |
| $45,000 - $49,999 | - | 30 | - | - |
| $50,000 - $59,999 | 8 | 25 | - | 14 |
| $60,000 - $74,999 | - | 35 | - | 3 |
| $75,000 - $99,999 | - | - | 23 | 3 |
| $100,000 - $124,999 | - | 13 | 8 | 24 |
| $125,000 - $149,999 | - | - | 16 | - |
| $150,000 - $199,999 | - | - | - | - |
| $200,000 or more | - | 12 | 3 | 30 |
To further explore the income distribution and gain insights into financial landscape of Shepherdstown 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 worth noting that 33.33% of the households in Shepherdstown, where householders are under 25 years old, are either within or surpass the income bracket representing the median income of $57,495 for the state of West Virginia. These 8 Shepherdstown households demonstrate a significant financial standing, aligning with or exceeding the median income of the state.
- Householder 25 to 44 years: In Shepherdstown, among households headed by individuals aged 25 to 44, an impressive 64.89% match or surpass the state of West Virginia median income of $57,495. These 85 households, represent a significant portion of the total 131 households in Shepherdstown within 25-44 years age group, reflecting commendable financial well-being within the state boundaries.
- Householder 45 to 64 years: In Shepherdstown, within the age group of 45 to 64 years, a remarkable 78.12% of households meet or exceed the state of West Virginia median income of $57,495. These 50 households, out of the total 64 households in this age cohort, signify a substantial portion of mature demographic of Shepherdstown, showcasing commendable financial stability in comparison to the West Virginia state median income benchmark.
- Householder 65 years and over: In Shepherdstown, among the over 65 years age group, an impressive 56.92% of households either match or surpass the state of West Virginia median income of $57,495. These 74 households, constituting a significant portion of the Shepherdstown 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 Shepherdstown, WV?
In Shepherdstown, households led by individuals aged 45 to 64 years report the highest median household income of $95,750 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 Shepherdstown, WV?
In terms of income distribution across age cohorts, in Shepherdstown, where there exist only two delineated age groups, the median household income is $95,750 for householders within the 45 to 64 years age group, compared to $58,770 for the 25 to 44 years age group..
How does the median household income for households led by individuals of median age compare in Shepherdstown, WV?
The median age in Shepherdstown is 22.3, which falls within the Under 25 years range among the four age groups defined by the US Census Bureau. This demographic likely boasts a youthful population, indication a potential hub for emerging workforce. Interestingly, according to the latest American Community Survey data, the US Census Bureau did not report the median household income for householders in the Under 25 years age group in Shepherdstown. 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)