Union Vale, New York Median Household Income By Age

Union Vale, New York 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 Vale town population by age, the median age in Union Vale town is 41.4 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 Union Vale town, the age group of 25 to 44 years exhibited the second-highest median household income, recorded at $74,003.

In terms of income distribution across age cohorts, in Union Vale town, the median household income stands at $113,716 for householders within the 45 to 64 years age group, followed by $74,003 for the 25 to 44 years age group. Notably, householders within the 65 years and over age group, had the lowest median household income at $63,452.

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 Union Vale town.

FIGURE 1

Union Vale, New York median household income by age of householder

It offers a clear illustration of the differences in median household incomes in Union Vale town, 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 2012 and 2022, none had an increase in this time period. Notably, household income for individuals within the 65 years and over age group demonstrated the smallest decline of $5,522(8.01%), declining from a median of $68,974 in 2012 to $63,452 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 $59,731(44.66%), declining from a median of $133,734 in 2012 to $74,003 in 2022.

Union Vale, New York household income distribution across age groups

To gain a comprehensive understanding of the financial landscape within the Union Vale town 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 11(0.66%) households where the householder is under 25 years old, 332(19.90%) households with a householder aged between 25 and 44 years, 810(48.56%) households with a householder aged between 45 and 64 years, and 515(30.88%) households where the householder is over 65 years old.

In Union Vale town, 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 Vale, New York household income distribution across age groups

Household income distribution across 16 income brackets among four distinct age groups in Union Vale town: 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 Vale town when compared to the state of New York 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 Vale town, where householders are under 25 years old, fall within or exceed the income bracket representing the median income of $84,743 for the state of New York. 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 Vale town, among households headed by individuals aged 25 to 44,worth noting that 48.80% match or surpass the state of New York median income of $84,743. These 162 households, represent a notable portion of the total 332 households in Union Vale town within 25-44 years age group, reflecting commendable financial well-being within the state boundaries.
• Householder 45 to 64 years: In Union Vale town, within the age group of 45 to 64 years, a remarkable 78.52% of households meet or exceed the state of New York median income of $84,743. These 636 households, out of the total 810 households in this age cohort, signify a substantial portion of mature demographic of Union Vale town, showcasing commendable financial stability in comparison to the New York state median income benchmark.
• Householder 65 years and over: In Union Vale town, among the over 65 years age group, a noteworthy 34.56% of households either match or surpass the state of New York median income of $84,743. These 178 households, constituting notable portion of the Union Vale town town senior population, showcase commendable financial stability compared to the New York state median income benchmark.

Things to know

Which age group reports the highest median household income in Union Vale, New York?

In Union Vale town, households led by individuals aged 45 to 64 years report the highest median household income of $113,716 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 Vale, New York?

In terms of income distribution across age cohorts, in Union Vale town, the median household income stands at $113,716 for householders within the 45 to 64 years age group, followed by $74,003 for the 25 to 44 years age group. Notably, householders within the 65 years and over age group, had the lowest median household income at $63,452..

How does the median household income for households led by individuals of median age compare in Union Vale, New York?

The median age in Union Vale town is 41.4, 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 Union Vale town, the age group of 25 to 44 years exhibited the second-highest median household income, recorded at $74,003.

References

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