Median Household Income by Age of Householder in Tabor City, NC (2022, in 2023 inflation-adjusted dollars)
This table presents the distribution of median household income among distinct age brackets of householders in Tabor City. Based on the latest 5-Year estimates from the American Community Survey, it displays how income varies among householders of different ages in Tabor City.
| Age Of The Head Of Household | Median Household Income |
|---|---|
| Under 25 years | $21,947 |
| 25 to 44 years | $48,266 |
| 45 to 64 years | $44,925 |
| 65 years and over | - |
TABLE OF CONTENTS
Tabor City, NC 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 Tabor City population by age, the median age in Tabor City is 41.6 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 Tabor City, the age group of 25 to 44 years also exhibits the highest median household income, recorded at $48,266.
In terms of income distribution across age cohorts, in Tabor City, the median household income stands at $48,266 for householders within the 25 to 44 years age group, followed by $44,925 for the 45 to 64 years age group. Notably, householders within the under 25 years age group, had the lowest median household income at $21,947.
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 Tabor City.
FIGURE 1
Tabor City, NC median household income by age of householder
It offers a clear illustration of the differences in median household incomes in Tabor City, 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, none had a decline during this time period. Notably, household income for individuals within the 25 to 44 years age group demonstrated a remarkable increase of $23,102(91.81%), escalating from a median of $25,164 in 2012 to $48,266 in 2022. Conversely, the age group of 45 to 64 years years witnessed the smallest growth in household income across the same span. Their median income saw a small increase of $9,702(27.54%), increasing from a median of $35,223 in 2012 to $44,925 in 2022.
Tabor City, NC household income distribution across age groups
To gain a comprehensive understanding of the financial landscape within the Tabor City 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 33(3.81%) households where the householder is under 25 years old, 143(16.51%) households with a householder aged between 25 and 44 years, 352(40.65%) households with a householder aged between 45 and 64 years, and 338(39.03%) 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 town of Tabor City, showcasing varying income levels among different age demographics.
FIGURE 2
Tabor City, NC household income distribution across age groups
Household income distribution across 16 income brackets among four distinct age groups in Tabor City: under 25 years, 25-44 years, 45-64 years, and over 65 years
Age-wise distribution of Tabor City household incomes: Comparative analysis across 16 income brackets
Discover the household distribution across 16 income brackets among four distinct age groups in Tabor City: 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 | 4 | 18 | 9 | 27 |
| $10,000 - $14,999 | - | 24 | 26 | 117 |
| $15,000 - $19,999 | - | 5 | 20 | 26 |
| $20,000 - $24,999 | 29 | 5 | 39 | 6 |
| $25,000 - $29,999 | - | 13 | 6 | 21 |
| $30,000 - $34,999 | - | - | 23 | 16 |
| $35,000 - $39,999 | - | - | 29 | 9 |
| $40,000 - $44,999 | - | - | 70 | - |
| $45,000 - $49,999 | - | 12 | - | 25 |
| $50,000 - $59,999 | - | 8 | - | 7 |
| $60,000 - $74,999 | - | 7 | - | 37 |
| $75,000 - $99,999 | - | 41 | 13 | 28 |
| $100,000 - $124,999 | - | - | 14 | 7 |
| $125,000 - $149,999 | - | 6 | 29 | 6 |
| $150,000 - $199,999 | - | 4 | 32 | - |
| $200,000 or more | - | - | 42 | 6 |
To further explore the income distribution and gain insights into financial landscape of Tabor City when compared to the state of North Carolina 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 Tabor City, where householders are under 25 years old, fall within or exceed the income bracket representing the median income of $68,916 for the state of North Carolina. 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 Tabor City, among households headed by individuals aged 25 to 44,worth noting that 40.56% match or surpass the state of North Carolina median income of $68,916. These 58 households, represent a notable portion of the total 143 households in Tabor City within 25-44 years age group, reflecting commendable financial well-being within the state boundaries.
- Householder 45 to 64 years: In Tabor City, within the age group of 45 to 64 years, a noteworthy 36.93% of households meet or exceed the state of North Carolina median income of $68,916. These 130 households, out of the total 352 households in this age cohort, signify a notable portion of mature demographic of Tabor City, showcasing commendable financial stability in comparison to the North Carolina state median income benchmark.
- Householder 65 years and over: In Tabor City, among the over 65 years age group, only 24.85% of households either match or surpass the state of North Carolina median income of $68,916. These 84 households, constituting low portion of the Tabor City town senior population, showcase commendable financial stability compared to the North Carolina state median income benchmark.
Things to know
Which age group reports the highest median household income in Tabor City, NC?
In Tabor City, households led by individuals aged 25 to 44 years report the highest median household income of $48,266 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 Tabor City, NC?
In terms of income distribution across age cohorts, in Tabor City, the median household income stands at $48,266 for householders within the 25 to 44 years age group, followed by $44,925 for the 45 to 64 years age group. Notably, householders within the under 25 years age group, had the lowest median household income at $21,947..
How does the median household income for households led by individuals of median age compare in Tabor City, NC?
The median age in Tabor City is 41.6, 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 Tabor City, the age group of 25 to 44 years also exhibits the highest median household income, recorded at $48,266.
References
- U.S. Census Bureau American Community Survey (ACS) 2018-2022 5-Year Estimates
- Consumer Price Index retroactive series using current methods (R-CPI-U-RS)