Springfield, FL Median Household Income By Age

Per the latest American Community Survey by the Census Bureau, Springfield sees its highest median household income among householders in the age group of under 25 years old, at $66,005. Overall, the median household income for the city of Springfield stands at $54,341.
Neilsberg Research Avatar
Updated Aug 9, 2024

Median Household Income by Age of Householder in Springfield, FL (2022, in 2023 inflation-adjusted dollars)

This table presents the distribution of median household income among distinct age brackets of householders in Springfield. Based on the latest 5-Year estimates from the American Community Survey, it displays how income varies among householders of different ages in Springfield.

Age Of The Head Of Household Median Household Income
Under 25 years $66,005
25 to 44 years $52,688
45 to 64 years $52,268
65 years and over $55,181
PREMIUM
Demographic Solutions for Every Need
Select your area of interest to discover how our data can empower your decisions.
Consumer Demographics
Understand your target market better with customized consumer demographic reports.
Market Segmentation
Identify and segment your target markets effectively with detailed demographic data.
Competitor Analysis
Gain insights into competitor regions with our comprehensive demographic analysis.
Trend Forecasting
Stay ahead with predictive insights based on historical demographic trends.
For any additional data requests, please reach out to research@neilsberg.com
Location Analysis
Assess potential development sites with detailed demographic reports.
Community Demographics
Understand the population characteristics of target areas with custom data.
Market Potential
Gauge market potential with insights into population growth, income levels, and more.
Investment Feasibility
Support the financial feasibility of your real estate investments with demographic analysis.
For any additional data requests, please reach out to research@neilsberg.com
Consumer Demographics
Get deep insights into your target customer base by location with tailored reports.
Expansion Planning
Identify potential new markets for business expansion with demographic data.
Site Selection
Choose the best sites for new business locations with location-specific demographic analysis.
Competitor Insights
Inform strategic decisions with demographic comparison to competitor regions.
For any additional data requests, please reach out to research@neilsberg.com
Custom Data Reports
Support your academic research with in-depth demographic data tailored to your objectives.
Trend Analysis
Enrich your research with historical and current demographic trends across thousands of locations.
Location-Specific Insights
Access focused demographic data at city, county, state, and national levels for your studies.
Comparative Studies
Support your research hypotheses with demographic comparison reports across different regions.
For any additional data requests, please reach out to research@neilsberg.com
Community Impact Analysis
Assess the needs and potential impact in specific communities with detailed demographic reports.
Grant Application Support
Bolster your grant applications with precise, location-specific demographic insights.
Program Planning
Design and plan effective community programs with tailored demographic insights.
Measure and report the impact of your initiatives with post-implementation demographic analysis.
For any additional data requests, please reach out to research@neilsberg.com

Springfield, FL 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 Springfield population by age, the median age in Springfield is 42.2 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 Springfield, the age group of 25 to 44 years had the second lowest median household income, recorded at $52,688.

In terms of income distribution across age cohorts, in Springfield, householders within the under 25 years age group have the highest median household income at $66,005, followed by those in the 65 years and over age group with an income of $55,181. Meanwhile householders within the 25 to 44 years age group report the second lowest median household income of $52,688. Notably, householders within the 45 to 64 years age group, had the lowest median household income at $52,268.

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 city of Springfield.

FIGURE 1

Springfield, FL median household income by age of householder

It offers a clear illustration of the differences in median household incomes in Springfield, 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.

Source: U.S. Census Bureau American Community Survey (ACS) 2018-2022 5-Year Estimates.

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 2012 and 2022, one groups encountered a decline in their median household income, while the remaining three experienced an increase during this period. Notably, household income for individuals within the 65 years and over age group demonstrated a remarkable increase of $11,505(26.34%), escalating from a median of $43,676 in 2012 to $55,181 in 2022. Conversely, the age group of Under 25 years years witnessed the most significant decline in household income across the same span. Their median income saw a substantial drop of $4,991(7.03%), declining from a median of $70,996 in 2012 to $66,005 in 2022.

Springfield, FL household income distribution across age groups

To gain a comprehensive understanding of the financial landscape within the Springfield 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 176(5.04%) households where the householder is under 25 years old, 1,023(29.31%) households with a householder aged between 25 and 44 years, 1,307(37.45%) households with a householder aged between 45 and 64 years, and 984(28.19%) households where the householder is over 65 years old.

The age group of under 25 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 city of Springfield, showcasing varying income levels among different age demographics.

FIGURE 2

Springfield, FL household income distribution across age groups

Household income distribution across 16 income brackets among four distinct age groups in Springfield: under 25 years, 25-44 years, 45-64 years, and over 65 years

Source: U.S. Census Bureau American Community Survey (ACS) 2018-2022 5-Year Estimates.

Age-wise distribution of Springfield household incomes: Comparative analysis across 16 income brackets

Discover the household distribution across 16 income brackets among four distinct age groups in Springfield: 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 - 80 92 18
$10,000 - $14,999 - - 89 60
$15,000 - $19,999 - - 89 62
$20,000 - $24,999 - - 48 56
$25,000 - $29,999 - - 13 66
$30,000 - $34,999 - 24 3 5
$35,000 - $39,999 19 116 133 85
$40,000 - $44,999 - 112 150 34
$45,000 - $49,999 43 167 35 76
$50,000 - $59,999 - 112 96 165
$60,000 - $74,999 90 182 201 111
$75,000 - $99,999 24 125 249 76
$100,000 - $124,999 - 57 62 90
$125,000 - $149,999 - 40 10 39
$150,000 - $199,999 - 8 - 41
$200,000 or more - - 37 -

To further explore the income distribution and gain insights into financial landscape of Springfield when compared to the state of Florida 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 64.77% of the households in Springfield, where householders are under 25 years old, are either within or surpass the income bracket representing the median income of $70,719 for the state of Florida. These 114 Springfield households demonstrate a significant financial standing, aligning with or exceeding the median income of the state.
  • Householder 25 to 44 years: In Springfield, among households headed by individuals aged 25 to 44,worth noting that 40.27% match or surpass the state of Florida median income of $70,719. These 412 households, represent a notable portion of the total 1,023 households in Springfield within 25-44 years age group, reflecting commendable financial well-being within the state boundaries.
  • Householder 45 to 64 years: In Springfield, within the age group of 45 to 64 years, a noteworthy 42.77% of households meet or exceed the state of Florida median income of $70,719. These 559 households, out of the total 1,307 households in this age cohort, signify a notable portion of mature demographic of Springfield, showcasing commendable financial stability in comparison to the Florida state median income benchmark.
  • Householder 65 years and over: In Springfield, among the over 65 years age group, a noteworthy 36.28% of households either match or surpass the state of Florida median income of $70,719. These 357 households, constituting notable portion of the Springfield city senior population, showcase commendable financial stability compared to the Florida state median income benchmark.

Things to know

Which age group reports the highest median household income in Springfield, FL?

In Springfield, households led by individuals aged under 25 years report the highest median household income of $66,005 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 Springfield, FL?

In terms of income distribution across age cohorts, in Springfield, householders within the under 25 years age group have the highest median household income at $66,005, followed by those in the 65 years and over age group with an income of $55,181. Meanwhile householders within the 25 to 44 years age group report the second lowest median household income of $52,688. Notably, householders within the 45 to 64 years age group, had the lowest median household income at $52,268..

How does the median household income for households led by individuals of median age compare in Springfield, FL?

The median age in Springfield is 42.2, 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 Springfield, the age group of 25 to 44 years had the second lowest median household income, recorded at $52,688.

References

Notes

The analysis presented in this article is based on estimates derived from the U.S. Census Bureau American Community Survey. While these figures offer valuable insights, they are subject to a margin of error. It is advisable to exercise caution and consider the potential margin of error when interpreting and utilizing this data.

Datasets

Explore datasets by year of publication.
2024
Springfield, FL Median Income by Age Groups Dataset: A Comprehensive Breakdown of Springfield Annual Median Income Across 4 Key Age Groups // 2024 Edition
Last updated August 7, 2024
ACS
Free
Neilsberg
CSV, JSON
2018-2022
CC BY 4.0
About this dataset

Context

The dataset presents the distribution of median household income among distinct age brackets of householders in Springfield. Based on the latest 2018-2022 5-Year Estimates from the American Community Survey, it displays how income varies among householders of different ages in Springfield. It showcases how household incomes typically rise as the head of the household gets older. The dataset can be utilized to gain insights into age-based household income trends and explore the variations in incomes across households.

Key observations: Insights from 2022

In terms of income distribution across age cohorts, in Springfield, householders within the under 25 years age group have the highest median household income at $66,005, followed by those in the 65 years and over age group with an income of $55,181. Meanwhile householders within the 25 to 44 years age group report the second lowest median household income of $52,688. Notably, householders within the 45 to 64 years age group, had the lowest median household income at $52,268.

Content

When available, the data consists of estimates from the U.S. Census Bureau American Community Survey (ACS) 2018-2022 5-Year Estimates. All incomes have been adjusting for inflation and are presented in 2023-inflation-adjusted dollars.

Age groups classifications include:

  • Under 25 years
  • 25 to 44 years
  • 45 to 64 years
  • 65 years and over

Variables / Data Columns

  • Age Of The Head Of Household: This column presents the age of the head of household
  • Median Household Income: Median household income, in 2022 inflation-adjusted dollars for the specific age group

Good to know

Margin of Error

Data in the dataset are based on the estimates and are subject to sampling variability and thus a margin of error. Neilsberg Research recommends using caution when presening these estimates in your research.

Custom data

If you do need custom data for any of your research project, report or presentation, you can contact our research staff at research@neilsberg.com for a feasibility of a custom tabulation on a fee-for-service basis.

Inspiration

Neilsberg Research Team curates, analyze and publishes demographics and economic data from a variety of public and proprietary sources, each of which often includes multiple surveys and programs. The large majority of Neilsberg Research aggregated datasets and insights is made available for free download at https://www.neilsberg.com/research/.

Recommended for further research

This dataset is a part of the main dataset for Springfield median household income by age. You can refer the same here

Income Bracket Analysis by Age Group Dataset: Age-Wise Distribution of Springfield, FL Household Incomes Across 16 Income Brackets // 2024 Edition
Last updated August 7, 2024
ACS
Free
Neilsberg
CSV, JSON
2018-2022
CC BY 4.0
About this dataset

Context

The dataset presents the the household distribution across 16 income brackets among four distinct age groups in Springfield: Under 25 years, 25-44 years, 45-64 years, and over 65 years. The dataset highlights the variation in household income, offering valuable insights into economic trends and disparities within different age categories, aiding in data analysis and decision-making..

Key observations

  • Upon closer examination of the distribution of households among age brackets, it reveals that there are 176(5.04%) households where the householder is under 25 years old, 1,023(29.31%) households with a householder aged between 25 and 44 years, 1,307(37.45%) households with a householder aged between 45 and 64 years, and 984(28.19%) households where the householder is over 65 years old.
  • The age group of under 25 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 city of Springfield, showcasing varying income levels among different age demographics.
Content

When available, the data consists of estimates from the U.S. Census Bureau American Community Survey (ACS) 2018-2022 5-Year Estimates.

Income brackets:

  • Less than $10,000
  • $10,000 to $14,999
  • $15,000 to $19,999
  • $20,000 to $24,999
  • $25,000 to $29,999
  • $30,000 to $34,999
  • $35,000 to $39,999
  • $40,000 to $44,999
  • $45,000 to $49,999
  • $50,000 to $59,999
  • $60,000 to $74,999
  • $75,000 to $99,999
  • $100,000 to $124,999
  • $125,000 to $149,999
  • $150,000 to $199,999
  • $200,000 or more

Variables / Data Columns

  • Household Income: This column showcases 16 income brackets ranging from Under $10,000 to $200,000+ ( As mentioned above).
  • Under 25 years: The count of households led by a head of household under 25 years old with income within a specified income bracket.
  • 25 to 44 years: The count of households led by a head of household 25 to 44 years old with income within a specified income bracket.
  • 45 to 64 years: The count of households led by a head of household 45 to 64 years old with income within a specified income bracket.
  • 65 years and over: The count of households led by a head of household 65 years and over old with income within a specified income bracket.

Good to know

Margin of Error

Data in the dataset are based on the estimates and are subject to sampling variability and thus a margin of error. Neilsberg Research recommends using caution when presening these estimates in your research.

Custom data

If you do need custom data for any of your research project, report or presentation, you can contact our research staff at research@neilsberg.com for a feasibility of a custom tabulation on a fee-for-service basis.

Inspiration

Neilsberg Research Team curates, analyze and publishes demographics and economic data from a variety of public and proprietary sources, each of which often includes multiple surveys and programs. The large majority of Neilsberg Research aggregated datasets and insights is made available for free download at https://www.neilsberg.com/research/.

Recommended for further research

This dataset is a part of the main dataset for Springfield median household income by age. You can refer the same here

If you're looking for datasets from another year, please feel free to contact us at research@neilsberg.com and we'll be happy to assist you further.

Explore more

Median household income of places that contain Springfield (in 2022 dollars)
Median household income of nearby cities (in 2022 dollars)

About the author

Neilsberg Research Avatar
Neilsberg Research
Neilsberg Research team are data scientists with expertise in processing, analysis and visualization of big data helping small businesses make right decisions.

Share

This article is for informational purposes only and is not intended to be legal or tax advice. We recommend that you consult with a qualified professional such as a lawyer or accountant before making a decision. Many of the products and services featured here are from our affiliate partners. We may receive commissions on purchases made from our chosen links. Read advertiser disclosure.