Tenakee Springs, AK Median Household Income By Age

Tenakee Springs, 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 Tenakee Springs population by age, the median age in Tenakee Springs is 64 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, according to the latest American Community Survey data, the US Census Bureau did not report the median household income for householders in the 45 to 64 years age group in Tenakee Springs. 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, Tenakee Springs only reports a median household income of $50,761 among householders in the 65 years and over age group.

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 Tenakee Springs.

FIGURE 1

Tenakee Springs, AK median household income by age of householder

It offers a clear illustration of the differences in median household incomes in Tenakee Springs, 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. Notably, household income for individuals within the 65 years and over age group demonstrated a remarkable increase of $9,085(21.80%), escalating from a median of $41,676 in 2012 to $50,761 in 2022. Conversely, the age group of 65 years and over years witnessed the smallest growth in household income across the same span. Their median income saw a small increase of $9,085(21.80%), increasing from a median of $41,676 in 2012 to $50,761 in 2022.

Tenakee Springs, AK household income distribution across age groups

To gain a comprehensive understanding of the financial landscape within the Tenakee Springs 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 0 households where the householder is under 25 years old, 0 households with a householder aged between 25 and 44 years, 53(54.08%) households with a householder aged between 45 and 64 years, and 45(45.92%) households where the householder is over 65 years old.

The age group of 65 years and over 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 Tenakee Springs, showcasing varying income levels among different age demographics.

FIGURE 2

Tenakee Springs, AK household income distribution across age groups

Household income distribution across 16 income brackets among four distinct age groups in Tenakee Springs: 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 Tenakee Springs 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: In Tenakee Springs, the comparison with the median income of the state and the nation remains inapplicable as there are no households headed by individuals under 25 years old.
• Householder 25 to 44 years: In Tenakee Springs there are no households where the head of the household is between 25 to 44 years old, making it impossible to compare the income with that of the state and the nation.
• Householder 45 to 64 years: In Tenakee Springs, within the age group of 45 to 64 years, only 45.28% of households meet or exceed the state of Alaska median income of $89,933. These 24 households, out of the total 53 households in this age cohort, signify a low portion of mature demographic of Tenakee Springs, showcasing commendable financial stability in comparison to the Alaska state median income benchmark.
• Householder 65 years and over: In Tenakee Springs, among the over 65 years age group, only 22.22% of households either match or surpass the state of Alaska median income of $89,933. These 10 households, constituting low portion of the Tenakee Springs 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 Tenakee Springs, AK?

In Tenakee Springs, households led by individuals aged 65 years and over report the highest median household income of $50,761 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 Tenakee Springs, AK?

In terms of income distribution across age cohorts, Tenakee Springs only reports a median household income of $50,761 among householders in the 65 years and over age group..

How does the median household income for households led by individuals of median age compare in Tenakee Springs, AK?

The median age in Tenakee Springs is 64, 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, according to the latest American Community Survey data, the US Census Bureau did not report the median household income for householders in the 45 to 64 years age group in Tenakee Springs. 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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