Union Hill, IL Median Household Income By Age

Union Hill, 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 Union Hill population by age, the median age in Union Hill is 42.3 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, according to the latest American Community Survey data, the US Census Bureau did not report the median household income for householders in the 25 to 44 years age group in Union Hill. 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, Union Hill only reports a median household income of $117,141 among householders in the 45 to 64 years 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 village of Union Hill.

FIGURE 1

Union Hill, IL median household income by age of householder

It offers a clear illustration of the differences in median household incomes in Union Hill, 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. Given the absence of data across all age groups in one of the surveyed years (either 2012 or 2022) from the US Census Bureau American Community Survey, conducting a temporal analysis for those age cohorts was unattainable.

Union Hill, IL household income distribution across age groups

To gain a comprehensive understanding of the financial landscape within the Union Hill 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 2(8.70%) households where the householder is under 25 years old, 5(21.74%) households with a householder aged between 25 and 44 years, 10(43.48%) households with a householder aged between 45 and 64 years, and 6(26.09%) households where the householder is over 65 years old.

In Union Hill, the age group of 45 to 64 years stands out with both the highest median income and the maximum share of households. This alignment suggests a financially stable demographic, indicating an established community with stable careers and higher incomes.

FIGURE 2

Union Hill, IL household income distribution across age groups

Household income distribution across 16 income brackets among four distinct age groups in Union Hill: 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 Union Hill 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 Union Hill, where householders are under 25 years old, fall within or exceed the income bracket representing the median income of $81,668 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 Union Hill, among households headed by individuals aged 25 to 44,worth noting that 40% match or surpass the state of Illinois median income of $81,668. These 2 households, represent a notable portion of the total 5 households in Union Hill within 25-44 years age group, reflecting commendable financial well-being within the state boundaries.
• Householder 45 to 64 years: In Union Hill, within the age group of 45 to 64 years, a remarkable 100% of households meet or exceed the state of Illinois median income of $81,668. These 10 households, out of the total 10 households in this age cohort, signify a substantial portion of mature demographic of Union Hill, showcasing commendable financial stability in comparison to the Illinois state median income benchmark.
• Householder 65 years and over: In Union Hill, among the over 65 years age group, an impressive 83.33% of households either match or surpass the state of Illinois median income of $81,668. These 5 households, constituting a significant portion of the Union Hill 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 Union Hill, IL?

In Union Hill, households led by individuals aged 45 to 64 years report the highest median household income of $117,141 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 Union Hill, IL?

In terms of income distribution across age cohorts, Union Hill only reports a median household income of $117,141 among householders in the 45 to 64 years age group..

How does the median household income for households led by individuals of median age compare in Union Hill, IL?

The median age in Union Hill is 42.3, 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, according to the latest American Community Survey data, the US Census Bureau did not report the median household income for householders in the 25 to 44 years age group in Union Hill. 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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