Wadley, AL Median Household Income By Age

Wadley, AL 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 Wadley population by age, the median age in Wadley is 20.7 years.

Typically for a location with median age in this range, it likely boasts a youthful population, indication a potential hub for emerging workforce. Interestingly, according to the latest American Community Survey data, the US Census Bureau did not report the median household income for householders in the Under 25 years age group in Wadley. 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, in Wadley, the median household income stands at $67,356 for householders within the 25 to 44 years age group, followed by $31,021 for the 45 to 64 years age group. Notably, householders within the 65 years and over age group, had the lowest median household income at $11,950.

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 Wadley.

FIGURE 1

Wadley, AL median household income by age of householder

It offers a clear illustration of the differences in median household incomes in Wadley, 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, two groups encountered a decline in their median household income, while the remaining one experienced an increase during this period. Notably, household income for individuals within the 25 to 44 years age group demonstrated a remarkable increase of $31,116(85.86%), escalating from a median of $36,240 in 2012 to $67,356 in 2022. Conversely, the age group of 45 to 64 years years witnessed the most significant decline in household income across the same span. Their median income saw a substantial drop of $25,301(44.92%), declining from a median of $56,322 in 2012 to $31,021 in 2022.

Wadley, AL household income distribution across age groups

To gain a comprehensive understanding of the financial landscape within the Wadley 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, 87(35.08%) households with a householder aged between 25 and 44 years, 81(32.66%) households with a householder aged between 45 and 64 years, and 80(32.26%) households where the householder is over 65 years old.

In Wadley, the age group of 25 to 44 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

Wadley, AL household income distribution across age groups

Household income distribution across 16 income brackets among four distinct age groups in Wadley: 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 Wadley when compared to the state of Alabama 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 Wadley, 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 Wadley, among households headed by individuals aged 25 to 44, an impressive 54.02% match or surpass the state of Alabama median income of $62,068. These 47 households, represent a significant portion of the total 87 households in Wadley within 25-44 years age group, reflecting commendable financial well-being within the state boundaries.
• Householder 45 to 64 years: In Wadley, within the age group of 45 to 64 years, a noteworthy 28.40% of households meet or exceed the state of Alabama median income of $62,068. These 23 households, out of the total 81 households in this age cohort, signify a notable portion of mature demographic of Wadley, showcasing commendable financial stability in comparison to the Alabama state median income benchmark.
• Householder 65 years and over: In Wadley, among the over 65 years age group, only 8.75% of households either match or surpass the state of Alabama median income of $62,068. These 7 households, constituting low portion of the Wadley town senior population, showcase commendable financial stability compared to the Alabama state median income benchmark.

Things to know

Which age group reports the highest median household income in Wadley, AL?

In Wadley, households led by individuals aged 25 to 44 years report the highest median household income of $67,356 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 Wadley, AL?

In terms of income distribution across age cohorts, in Wadley, the median household income stands at $67,356 for householders within the 25 to 44 years age group, followed by $31,021 for the 45 to 64 years age group. Notably, householders within the 65 years and over age group, had the lowest median household income at $11,950..

How does the median household income for households led by individuals of median age compare in Wadley, AL?

The median age in Wadley is 20.7, which falls within the Under 25 years range among the four age groups defined by the US Census Bureau. This demographic likely boasts a youthful population, indication a potential hub for emerging workforce. Interestingly, according to the latest American Community Survey data, the US Census Bureau did not report the median household income for householders in the Under 25 years age group in Wadley. 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.

References

Notes