Median Household Income by Age of Householder in Sugar Grove, IL (In 2023 inflation-adjusted dollars)
This table presents the distribution of median household income among distinct age brackets of householders in Sugar Grove. Based on the latest 5-Year estimates from the American Community Survey, it displays how income varies among householders of different ages in Sugar Grove.
| Age Of The Head Of Household | Median Household Income |
|---|---|
| Under 25 years | - |
| 25 to 44 years | $151,157 |
| 45 to 64 years | $144,412 |
| 65 years and over | $78,250 |
TABLE OF CONTENTS
Sugar Grove, IL 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 Sugar Grove population by age, the median age in Sugar Grove is 45 years.
Typically for a location with median age in this range, it tends to house more established professionals, possibly reflecting stable households and higher earning poptential. Interestingly, within Sugar Grove, the age group of 45 to 64 years exhibited the second-highest median household income, recorded at $144,412.
In terms of income distribution across age cohorts, in Sugar Grove, the median household income stands at $151,157 for householders within the 25 to 44 years age group, followed by $144,412 for the 45 to 64 years age group. Notably, householders within the 65 years and over age group, had the lowest median household income at $78,250.
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 village of Sugar Grove.
FIGURE 1
Sugar Grove, IL median household income by age of householder
It offers a clear illustration of the differences in median household incomes in Sugar Grove, 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 $12,419(8.95%), escalating from a median of $138,738 in 2013 to $151,157 in 2023. Conversely, the age group of 65 years and over years witnessed the most significant decline in household income across the same span. Their median income saw a substantial drop of $28,975(27.02%), declining from a median of $107,225 in 2013 to $78,250 in 2023.
Sugar Grove, IL household income distribution across age groups
To gain a comprehensive understanding of the financial landscape within the Sugar Grove 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 17(0.48%) households where the householder is under 25 years old, 971(27.51%) households with a householder aged between 25 and 44 years, 1,284(36.38%) households with a householder aged between 45 and 64 years, and 1,257(35.62%) 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 45 to 64 years bracket. This distribution hints at economic disparities within the village of Sugar Grove, showcasing varying income levels among different age demographics.
FIGURE 2
Sugar Grove, IL household income distribution across age groups
Household income distribution across 16 income brackets among four distinct age groups in Sugar Grove: under 25 years, 25-44 years, 45-64 years, and over 65 years
Age-wise distribution of Sugar Grove household incomes: Comparative analysis across 16 income brackets
Discover the household distribution across 16 income brackets among four distinct age groups in Sugar Grove: 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 | 17 | - | 26 | 46 |
| $10,000 - $14,999 | - | - | - | 144 |
| $15,000 - $19,999 | - | - | - | - |
| $20,000 - $24,999 | - | - | - | 38 |
| $25,000 - $29,999 | - | - | 14 | 28 |
| $30,000 - $34,999 | - | - | - | 74 |
| $35,000 - $39,999 | - | - | 36 | - |
| $40,000 - $44,999 | - | 28 | 40 | 35 |
| $45,000 - $49,999 | - | 105 | 41 | - |
| $50,000 - $59,999 | - | 29 | 196 | 160 |
| $60,000 - $74,999 | - | 15 | - | 99 |
| $75,000 - $99,999 | - | 118 | 47 | 184 |
| $100,000 - $124,999 | - | 91 | 161 | 120 |
| $125,000 - $149,999 | - | 87 | 85 | 102 |
| $150,000 - $199,999 | - | 236 | 137 | 112 |
| $200,000 or more | - | 262 | 501 | 115 |
To further explore the income distribution and gain insights into financial landscape of Sugar Grove when compared to the state of Illinois 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 Sugar Grove, where householders are under 25 years old, fall within or exceed the income bracket representing the median income of $81,702 for the state of Illinois. 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 Sugar Grove, among households headed by individuals aged 25 to 44, an impressive 81.77% match or surpass the state of Illinois median income of $81,702. These 794 households, represent a significant portion of the total 971 households in Sugar Grove within 25-44 years age group, reflecting commendable financial well-being within the state boundaries.
- Householder 45 to 64 years: In Sugar Grove, within the age group of 45 to 64 years, a remarkable 72.51% of households meet or exceed the state of Illinois median income of $81,702. These 931 households, out of the total 1,284 households in this age cohort, signify a substantial portion of mature demographic of Sugar Grove, showcasing commendable financial stability in comparison to the Illinois state median income benchmark.
- Householder 65 years and over: In Sugar Grove, among the over 65 years age group, an impressive 50.36% of households either match or surpass the state of Illinois median income of $81,702. These 633 households, constituting a significant portion of the Sugar Grove village senior population, showcase commendable financial stability compared to the Illinois state median income benchmark.
Things to know
Which age group reports the highest median household income in Sugar Grove, IL?
In Sugar Grove, households led by individuals aged 25 to 44 years report the highest median household income of $151,157 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 Sugar Grove, IL?
In terms of income distribution across age cohorts, in Sugar Grove, the median household income stands at $151,157 for householders within the 25 to 44 years age group, followed by $144,412 for the 45 to 64 years age group. Notably, householders within the 65 years and over age group, had the lowest median household income at $78,250..
How does the median household income for households led by individuals of median age compare in Sugar Grove, IL?
The median age in Sugar Grove is 45, which falls within the 45 to 64 years range among the four age groups defined by the US Census Bureau. This demographic tends to house more established professionals, possibly reflecting stable households and higher earning poptential. Interestingly, within Sugar Grove, the age group of 45 to 64 years exhibited the second-highest median household income, recorded at $144,412.
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)
