St. Michael, AK Median Household Income By Age

St. Michael, AK 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 St. Michael population by age, the median age in St. Michael is 19.7 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 St. Michael. 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 St. Michael, the median household income stands at $65,078 for householders within the 45 to 64 years age group, followed by $48,158 for the 65 years and over age group. Notably, householders within the 25 to 44 years age group, had the lowest median household income at $39,698.

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 St. Michael.

FIGURE 1

St. Michael, AK median household income by age of householder

It offers a clear illustration of the differences in median household incomes in St. Michael, 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, one groups encountered a decline in their median household income, while the remaining one experienced an increase during this period. Notably, household income for individuals within the 45 to 64 years age group demonstrated a remarkable increase of $25,069(62.66%), escalating from a median of $40,009 in 2012 to $65,078 in 2022. 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 $20,315(33.85%), declining from a median of $60,013 in 2012 to $39,698 in 2022.

St. Michael, AK household income distribution across age groups

To gain a comprehensive understanding of the financial landscape within the St. Michael 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 4(6.15%) households where the householder is under 25 years old, 29(44.62%) households with a householder aged between 25 and 44 years, 22(33.85%) households with a householder aged between 45 and 64 years, and 10(15.38%) 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 city of St. Michael, showcasing varying income levels among different age demographics.

FIGURE 2

St. Michael, AK household income distribution across age groups

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

To further explore the income distribution and gain insights into financial landscape of St. Michael when compared to the state of Alaska 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 St. Michael, where householders are under 25 years old, fall within or exceed the income bracket representing the median income of $89,933 for the state of Alaska. 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 St. Michael, among households headed by individuals aged 25 to 44,noteworthy that only 20.69% match or surpass the state of Alaska median income of $89,933. These 6 households, represent a low portion of the total 29 households in St. Michael within 25-44 years age group, reflecting commendable financial well-being within the state boundaries.
• Householder 45 to 64 years: In St. Michael, within the age group of 45 to 64 years, only 50% of households meet or exceed the state of Alaska median income of $89,933. These 11 households, out of the total 22 households in this age cohort, signify a low portion of mature demographic of St. Michael, showcasing commendable financial stability in comparison to the Alaska state median income benchmark.
• Householder 65 years and over: In St. Michael, among the over 65 years age group, only 20% of households either match or surpass the state of Alaska median income of $89,933. These 2 households, constituting low portion of the St. Michael city senior population, showcase commendable financial stability compared to the Alaska state median income benchmark.

Things to know

Which age group reports the highest median household income in St. Michael, AK?

In St. Michael, households led by individuals aged 45 to 64 years report the highest median household income of $65,078 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 St. Michael, AK?

In terms of income distribution across age cohorts, in St. Michael, the median household income stands at $65,078 for householders within the 45 to 64 years age group, followed by $48,158 for the 65 years and over age group. Notably, householders within the 25 to 44 years age group, had the lowest median household income at $39,698..

How does the median household income for households led by individuals of median age compare in St. Michael, AK?

The median age in St. Michael is 19.7, 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 St. Michael. 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.

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