Median Household Income by Age of Householder in Shippensburg Township, Pennsylvania (In 2023 inflation-adjusted dollars)
This table presents the distribution of median household income among distinct age brackets of householders in Shippensburg township. Based on the latest 5-Year estimates from the American Community Survey, it displays how income varies among householders of different ages in Shippensburg township.
| Age Of The Head Of Household | Median Household Income |
|---|---|
| Under 25 years | $26,524 |
| 25 to 44 years | $63,750 |
| 45 to 64 years | $57,500 |
| 65 years and over | - |
TABLE OF CONTENTS
Shippensburg Township, Pennsylvania 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 Shippensburg township population by age, the median age in Shippensburg township is 21 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, within Shippensburg township, the age group of Under 25 years had the second lowest median household income, recorded at $26,524.
In terms of income distribution across age cohorts, in Shippensburg township, the median household income stands at $63,750 for householders within the 25 to 44 years age group, followed by $57,500 for the 45 to 64 years age group. Notably, householders within the under 25 years age group, had the lowest median household income at $26,524.
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 Shippensburg township.
FIGURE 1
Shippensburg Township, Pennsylvania median household income by age of householder
It offers a clear illustration of the differences in median household incomes in Shippensburg 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 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 $12,091(23.41%), escalating from a median of $51,659 in 2013 to $63,750 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 $11,003(16.06%), declining from a median of $68,503 in 2013 to $57,500 in 2023.
Shippensburg Township, Pennsylvania household income distribution across age groups
To gain a comprehensive understanding of the financial landscape within the Shippensburg 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 380(45.51%) households where the householder is under 25 years old, 189(22.63%) households with a householder aged between 25 and 44 years, 102(12.22%) households with a householder aged between 45 and 64 years, and 164(19.64%) 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 under 25 years bracket. This distribution hints at economic disparities within the township of Shippensburg township, showcasing varying income levels among different age demographics.
FIGURE 2
Shippensburg Township, Pennsylvania household income distribution across age groups
Household income distribution across 16 income brackets among four distinct age groups in Shippensburg township: under 25 years, 25-44 years, 45-64 years, and over 65 years
Age-wise distribution of Shippensburg township household incomes: Comparative analysis across 16 income brackets
Discover the household distribution across 16 income brackets among four distinct age groups in Shippensburg 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 | 48 | 1 | - | - |
| $10,000 - $14,999 | 34 | - | 3 | 10 |
| $15,000 - $19,999 | 73 | - | - | 16 |
| $20,000 - $24,999 | 10 | - | - | 4 |
| $25,000 - $29,999 | 41 | 65 | - | 26 |
| $30,000 - $34,999 | 13 | 6 | 4 | 8 |
| $35,000 - $39,999 | 14 | - | - | 13 |
| $40,000 - $44,999 | - | 2 | 10 | 4 |
| $45,000 - $49,999 | - | 4 | 21 | 5 |
| $50,000 - $59,999 | 61 | 8 | 13 | 4 |
| $60,000 - $74,999 | 40 | 17 | 24 | - |
| $75,000 - $99,999 | - | 19 | 4 | 34 |
| $100,000 - $124,999 | 40 | 14 | 7 | 20 |
| $125,000 - $149,999 | 6 | 33 | - | 10 |
| $150,000 - $199,999 | - | 15 | 16 | 5 |
| $200,000 or more | - | 5 | - | 5 |
To further explore the income distribution and gain insights into financial landscape of Shippensburg township when compared to the state of Pennsylvania 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 12.11% of the households in Shippensburg township, where householders are under 25 years old, are either within or surpass the income bracket representing the median income of $76,081 for the state of Pennsylvania. These 46 Shippensburg township households demonstrate a significant financial standing, aligning with or exceeding the median income of the state.
- Householder 25 to 44 years: In Shippensburg township, among households headed by individuals aged 25 to 44,worth noting that 45.50% match or surpass the state of Pennsylvania median income of $76,081. These 86 households, represent a notable portion of the total 189 households in Shippensburg township within 25-44 years age group, reflecting commendable financial well-being within the state boundaries.
- Householder 45 to 64 years: In Shippensburg township, within the age group of 45 to 64 years, a noteworthy 26.47% of households meet or exceed the state of Pennsylvania median income of $76,081. These 27 households, out of the total 102 households in this age cohort, signify a notable portion of mature demographic of Shippensburg township, showcasing commendable financial stability in comparison to the Pennsylvania state median income benchmark.
- Householder 65 years and over: In Shippensburg township, among the over 65 years age group, a noteworthy 45.12% of households either match or surpass the state of Pennsylvania median income of $76,081. These 74 households, constituting notable portion of the Shippensburg township township senior population, showcase commendable financial stability compared to the Pennsylvania state median income benchmark.
Things to know
Which age group reports the highest median household income in Shippensburg Township, Pennsylvania?
In Shippensburg township, households led by individuals aged 25 to 44 years report the highest median household income of $63,750 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 Shippensburg Township, Pennsylvania?
In terms of income distribution across age cohorts, in Shippensburg township, the median household income stands at $63,750 for householders within the 25 to 44 years age group, followed by $57,500 for the 45 to 64 years age group. Notably, householders within the under 25 years age group, had the lowest median household income at $26,524..
How does the median household income for households led by individuals of median age compare in Shippensburg Township, Pennsylvania?
The median age in Shippensburg township is 21, 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, within Shippensburg township, the age group of Under 25 years had the second lowest median household income, recorded at $26,524.
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)
