Simsbury, Connecticut 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 Simsbury town population by age, the median age in Simsbury town is 43.4 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 Simsbury town, the age group of 25 to 44 years had the second lowest median household income, recorded at $139,513.
In terms of income distribution across age cohorts, in Simsbury town, householders within the 45 to 64 years age group have the highest median household income at $185,395, followed by those in the under 25 years age group with an income of $144,829. Meanwhile householders within the 25 to 44 years age group report the second lowest median household income of $139,513. Notably, householders within the 65 years and over age group, had the lowest median household income at $88,049.
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 Simsbury town.
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 2011 and 2021, 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 Under 25 years age group demonstrated a remarkable increase of $56,976(64.85%), escalating from a median of $87,853 in 2011 to $144,829 in 2021. Conversely, the age group of 25 to 44 years years witnessed the most significant decline in household income across the same span. Their median income saw a substantial drop of $23,109(14.21%), declining from a median of $162,622 in 2011 to $139,513 in 2021.
Simsbury, Connecticut household income distribution across age groups
To gain a comprehensive understanding of the financial landscape within the Simsbury 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 65(0.71%) households where the householder is under 25 years old, 2,642(29%) households with a householder aged between 25 and 44 years, 3,979(43.68%) households with a householder aged between 45 and 64 years, and 2,424(26.61%) households where the householder is over 65 years old.
In Simsbury 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.
Age-wise distribution of Simsbury town household incomes: Comparative analysis across 16 income brackets
Discover the household distribution across 16 income brackets among four distinct age groups in Simsbury town: 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 | - | 53 | 88 | 139 |
| $10,000 - $14,999 | - | 24 | 16 | 33 |
| $15,000 - $19,999 | - | 8 | 36 | 80 |
| $20,000 - $24,999 | - | 89 | 40 | 73 |
| $25,000 - $29,999 | - | 113 | 31 | 120 |
| $30,000 - $34,999 | - | 55 | 80 | 83 |
| $35,000 - $39,999 | - | 13 | 31 | 51 |
| $40,000 - $44,999 | - | 55 | 65 | 100 |
| $45,000 - $49,999 | - | 32 | 17 | 94 |
| $50,000 - $59,999 | 20 | 86 | 105 | 171 |
| $60,000 - $74,999 | - | 134 | 104 | 161 |
| $75,000 - $99,999 | - | 383 | 235 | 343 |
| $100,000 - $124,999 | - | 224 | 326 | 211 |
| $125,000 - $149,999 | 21 | 257 | 401 | 304 |
| $150,000 - $199,999 | 24 | 430 | 671 | 206 |
| $200,000 or more | - | 686 | 1,733 | 255 |
To further explore the income distribution and gain insights into financial landscape of Simsbury town when compared to the state of Connecticut 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 69.23% of the households in Simsbury town, where householders are under 25 years old, are either within or surpass the income bracket representing the median income of $88,429 for the state of Connecticut. These 45 Simsbury town households demonstrate a significant financial standing, aligning with or exceeding the median income of the state.
- Householder 25 to 44 years: In Simsbury town, among households headed by individuals aged 25 to 44, an impressive 74.94% match or surpass the state of Connecticut median income of $88,429. These 1,980 households, represent a significant portion of the total 2,642 households in Simsbury town within 25-44 years age group, reflecting commendable financial well-being within the state boundaries.
- Householder 45 to 64 years: In Simsbury town, within the age group of 45 to 64 years, a remarkable 84.59% of households meet or exceed the state of Connecticut median income of $88,429. These 3,366 households, out of the total 3,979 households in this age cohort, signify a substantial portion of mature demographic of Simsbury town, showcasing commendable financial stability in comparison to the Connecticut state median income benchmark.
- Householder 65 years and over: In Simsbury town, among the over 65 years age group, an impressive 54.41% of households either match or surpass the state of Connecticut median income of $88,429. These 1,319 households, constituting a significant portion of the Simsbury town town senior population, showcase commendable financial stability compared to the Connecticut state median income benchmark.