Median Household Income by Age of Householder in Urbana, IA (2021, in 2022 inflation-adjusted dollars)
This table presents the distribution of median household income among distinct age brackets of householders in Urbana. Based on the latest 5-Year estimates from the American Community Survey, it displays how income varies among householders of different ages in Urbana.
Age Of The Head Of Household | Median Household Income |
---|---|
Under 25 years | $81,314 |
25 to 44 years | $125,656 |
45 to 64 years | $102,687 |
65 years and over | $63,954 |
TABLE OF CONTENTS
Urbana, IA 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 Urbana population by age, the median age in Urbana is 31.6 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 Urbana, the age group of 25 to 44 years also exhibits the highest median household income, recorded at $125,656.
In terms of income distribution across age cohorts, in Urbana, householders within the 25 to 44 years age group have the highest median household income at $125,656, followed by those in the 45 to 64 years age group with an income of $102,687. Meanwhile householders within the under 25 years age group report the second lowest median household income of $81,314. Notably, householders within the 65 years and over age group, had the lowest median household income at $63,954.
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 Urbana.
![Urbana, IA median household income by age of householder The bar chart shows Urbana, IA median household income by age of householder. All incomes have been adjusted for 2022 inflation using the Consumer Price Index retroactive series (R-CPI-U-RS).](https://i.neilsberg.com/ch/urbana-ia-median-household-income-by-age.jpeg)
Analysis of income trends over the past decade highlights notable shifts across various age groups. Among the four age groups with available Census data in both 2011 and 2021, none had a decline during this time period. Notably, household income for individuals within the Under 25 years age group demonstrated a remarkable increase of $40,919(101.30%), escalating from a median of $40,395 in 2011 to $81,314 in 2021. 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 $1,201(1.18%), increasing from a median of $101,486 in 2011 to $102,687 in 2021.
Urbana, IA household income distribution across age groups
To gain a comprehensive understanding of the financial landscape within the Urbana 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 28(5.62%) households where the householder is under 25 years old, 198(39.76%) households with a householder aged between 25 and 44 years, 200(40.16%) households with a householder aged between 45 and 64 years, and 72(14.46%) 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 city of Urbana, showcasing varying income levels among different age demographics.
![>Urbana, IA household income distribution across age groups The bar chart displays the distribution of household income in Urbana, IA across different age groups as categorized by the U.S. Census Bureau. It illustrates the number of households within each income bracket across age categories. This visualization offers valuable insights into income disparities and variations across age groups, facilitating data analysis and informed decision-making. It enables the identification of demographics with specific financial statuses within distinct age brackets.](https://i.neilsberg.com/ch/urbana-ia-household-income-by-age-groups.jpeg)
Age-wise distribution of Urbana household incomes: Comparative analysis across 16 income brackets
Discover the household distribution across 16 income brackets among four distinct age groups in Urbana: 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 | 12 |
$10,000 - $14,999 | - | - | 3 | 3 |
$15,000 - $19,999 | - | - | 4 | - |
$20,000 - $24,999 | - | - | 4 | 2 |
$25,000 - $29,999 | - | - | - | - |
$30,000 - $34,999 | - | - | 19 | - |
$35,000 - $39,999 | 4 | 3 | 6 | 6 |
$40,000 - $44,999 | - | - | - | 4 |
$45,000 - $49,999 | - | - | - | 5 |
$50,000 - $59,999 | - | - | 28 | 5 |
$60,000 - $74,999 | 9 | 12 | 5 | 5 |
$75,000 - $99,999 | 15 | 52 | 35 | 19 |
$100,000 - $124,999 | - | 40 | 17 | - |
$125,000 - $149,999 | - | 28 | 36 | 9 |
$150,000 - $199,999 | - | 60 | 25 | 2 |
$200,000 or more | - | 3 | 14 | - |
To further explore the income distribution and gain insights into financial landscape of Urbana when compared to the state of Iowa 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 impressive that 85.71% of the households in Urbana, where householders are under 25 years old, are either within or surpass the income bracket representing the median income of $69,588 for the state of Iowa. These 24 Urbana households demonstrate a significant financial standing, aligning with or exceeding the median income of the state.
- Householder 25 to 44 years: In Urbana, among households headed by individuals aged 25 to 44, an impressive 98.48% match or surpass the state of Iowa median income of $69,588. These 195 households, represent a significant portion of the total 198 households in Urbana within 25-44 years age group, reflecting commendable financial well-being within the state boundaries.
- Householder 45 to 64 years: In Urbana, within the age group of 45 to 64 years, a remarkable 66% of households meet or exceed the state of Iowa median income of $69,588. These 132 households, out of the total 200 households in this age cohort, signify a substantial portion of mature demographic of Urbana, showcasing commendable financial stability in comparison to the Iowa state median income benchmark.
- Householder 65 years and over: In Urbana, among the over 65 years age group, a noteworthy 48.61% of households either match or surpass the state of Iowa median income of $69,588. These 35 households, constituting notable portion of the Urbana city senior population, showcase commendable financial stability compared to the Iowa state median income benchmark.
Things to know
Which age group reports the highest median household income in Urbana, IA?
In Urbana, households led by individuals aged 25 to 44 years report the highest median household income of $125,656 according to the American Community Survey 2017-2021 5-Year Estimates by the US Census Bureau.
How does the median household income vary by age in Urbana, IA?
In terms of income distribution across age cohorts, in Urbana, householders within the 25 to 44 years age group have the highest median household income at $125,656, followed by those in the 45 to 64 years age group with an income of $102,687. Meanwhile householders within the under 25 years age group report the second lowest median household income of $81,314. Notably, householders within the 65 years and over age group, had the lowest median household income at $63,954..
How does the median household income for households led by individuals of median age compare in Urbana, IA?
The median age in Urbana is 31.6, 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 Urbana, the age group of 25 to 44 years also exhibits the highest median household income, recorded at $125,656.
References
- U.S. Census Bureau American Community Survey (ACS) 2017-2021 5-Year Estimates
- Consumer Price Index retroactive series using current methods (R-CPI-U-RS)