Median Household Income by Age of Householder in Sinking Spring, PA (2021, in 2022 inflation-adjusted dollars)
This table presents the distribution of median household income among distinct age brackets of householders in Sinking Spring. Based on the latest 5-Year estimates from the American Community Survey, it displays how income varies among householders of different ages in Sinking Spring.
Age Of The Head Of Household | Median Household Income |
---|---|
Under 25 years | - |
25 to 44 years | $75,394 |
45 to 64 years | $115,185 |
65 years and over | $61,612 |
TABLE OF CONTENTS
Sinking Spring, PA 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 Sinking Spring population by age, the median age in Sinking Spring is 38.3 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 Sinking Spring, the age group of 25 to 44 years exhibited the second-highest median household income, recorded at $75,394.
In terms of income distribution across age cohorts, in Sinking Spring, the median household income stands at $115,185 for householders within the 45 to 64 years age group, followed by $75,394 for the 25 to 44 years age group. Notably, householders within the 65 years and over age group, had the lowest median household income at $61,612.
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 borough of Sinking Spring.
![Sinking Spring, PA median household income by age of householder The bar chart shows Sinking Spring, PA median household income by age of householder. All incomes have been adjusted for 2022 inflation using the Consumer Price Index retroactive series (R-CPI-U-RS).](https://i.neilsberg.com/ch/sinking-spring-pa-median-household-income-by-age.jpeg)
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 2011 and 2021, 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 45 to 64 years age group demonstrated a remarkable increase of $27,495(31.35%), escalating from a median of $87,690 in 2011 to $115,185 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 $10,416(12.14%), declining from a median of $85,810 in 2011 to $75,394 in 2021.
Sinking Spring, PA household income distribution across age groups
To gain a comprehensive understanding of the financial landscape within the Sinking Spring 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 37(2.34%) households where the householder is under 25 years old, 558(35.34%) households with a householder aged between 25 and 44 years, 586(37.11%) households with a householder aged between 45 and 64 years, and 398(25.21%) households where the householder is over 65 years old.
In Sinking Spring, 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.
![>Sinking Spring, PA household income distribution across age groups The bar chart displays the distribution of household income in Sinking Spring, PA across different age groups as categorized by the U.S. Census Bureau. It illustrates the number of households within each income bracket across age categories. This visualization offers valuable insights into income disparities and variations across age groups, facilitating data analysis and informed decision-making. It enables the identification of demographics with specific financial statuses within distinct age brackets.](https://i.neilsberg.com/ch/sinking-spring-pa-household-income-by-age-groups.jpeg)
Age-wise distribution of Sinking Spring household incomes: Comparative analysis across 16 income brackets
Discover the household distribution across 16 income brackets among four distinct age groups in Sinking Spring: 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 | - | 44 | 27 | 10 |
$10,000 - $14,999 | - | 9 | 5 | - |
$15,000 - $19,999 | - | 40 | 19 | 25 |
$20,000 - $24,999 | - | - | 11 | 10 |
$25,000 - $29,999 | 10 | 56 | 33 | 106 |
$30,000 - $34,999 | 27 | - | 62 | - |
$35,000 - $39,999 | - | - | - | 10 |
$40,000 - $44,999 | - | - | - | 22 |
$45,000 - $49,999 | - | 20 | 15 | - |
$50,000 - $59,999 | - | 63 | 35 | 18 |
$60,000 - $74,999 | - | 56 | 12 | 114 |
$75,000 - $99,999 | - | 136 | 57 | 45 |
$100,000 - $124,999 | - | 36 | 62 | 20 |
$125,000 - $149,999 | - | 28 | 95 | - |
$150,000 - $199,999 | - | 33 | 70 | 9 |
$200,000 or more | - | 37 | 83 | 9 |
To further explore the income distribution and gain insights into financial landscape of Sinking Spring 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 no households in Sinking Spring, where householders are under 25 years old, fall within or exceed the income bracket representing the median income of $71,798 for the state of Pennsylvania. This indicates an income disparity among households headed by individuals under 25 years old when compared to the median income of the state.
- Householder 25 to 44 years: In Sinking Spring, among households headed by individuals aged 25 to 44, an impressive 58.42% match or surpass the state of Pennsylvania median income of $71,798. These 326 households, represent a significant portion of the total 558 households in Sinking Spring within 25-44 years age group, reflecting commendable financial well-being within the state boundaries.
- Householder 45 to 64 years: In Sinking Spring, within the age group of 45 to 64 years, a remarkable 64.68% of households meet or exceed the state of Pennsylvania median income of $71,798. These 379 households, out of the total 586 households in this age cohort, signify a substantial portion of mature demographic of Sinking Spring, showcasing commendable financial stability in comparison to the Pennsylvania state median income benchmark.
- Householder 65 years and over: In Sinking Spring, among the over 65 years age group, a noteworthy 49.50% of households either match or surpass the state of Pennsylvania median income of $71,798. These 197 households, constituting notable portion of the Sinking Spring borough 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 Sinking Spring, PA?
In Sinking Spring, households led by individuals aged 45 to 64 years report the highest median household income of $115,185 according to the American Community Survey 2017-2021 5-Year Estimates by the US Census Bureau.
How does the median household income vary by age in Sinking Spring, PA?
In terms of income distribution across age cohorts, in Sinking Spring, the median household income stands at $115,185 for householders within the 45 to 64 years age group, followed by $75,394 for the 25 to 44 years age group. Notably, householders within the 65 years and over age group, had the lowest median household income at $61,612..
How does the median household income for households led by individuals of median age compare in Sinking Spring, PA?
The median age in Sinking Spring is 38.3, 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 Sinking Spring, the age group of 25 to 44 years exhibited the second-highest median household income, recorded at $75,394.
References
- U.S. Census Bureau American Community Survey (ACS) 2017-2021 5-Year Estimates
- Consumer Price Index retroactive series using current methods (R-CPI-U-RS)