Median Household Income by Age of Householder in West Mineral, KS (2022, in 2023 inflation-adjusted dollars)
This table presents the distribution of median household income among distinct age brackets of householders in West Mineral. Based on the latest 5-Year estimates from the American Community Survey, it displays how income varies among householders of different ages in West Mineral.
| Age Of The Head Of Household | Median Household Income |
|---|---|
| Under 25 years | - |
| 25 to 44 years | $56,401 |
| 45 to 64 years | - |
| 65 years and over | $33,841 |
TABLE OF CONTENTS
West Mineral, KS 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 West Mineral population by age, the median age in West Mineral is 36.3 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, within West Mineral, the age group of 25 to 44 years also exhibits the highest median household income, recorded at $56,401.
In terms of income distribution across age cohorts, in West Mineral, where there exist only two delineated age groups, the median household income is $56,401 for householders within the 25 to 44 years age group, compared to $33,841 for 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 West Mineral.
FIGURE 1
West Mineral, KS median household income by age of householder
It offers a clear illustration of the differences in median household incomes in West Mineral, 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 two age groups with available Census data in both 2012 and 2022, one 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 65 years and over age group demonstrated a remarkable increase of $10,711(46.31%), escalating from a median of $23,130 in 2012 to $33,841 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 $556(0.98%), declining from a median of $56,957 in 2012 to $56,401 in 2022.
West Mineral, KS household income distribution across age groups
To gain a comprehensive understanding of the financial landscape within the West Mineral 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, 16(28.57%) households with a householder aged between 25 and 44 years, 8(14.29%) households with a householder aged between 45 and 64 years, and 32(57.14%) 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 65 years and over bracket. This distribution hints at economic disparities within the city of West Mineral, showcasing varying income levels among different age demographics.
FIGURE 2
West Mineral, KS household income distribution across age groups
Household income distribution across 16 income brackets among four distinct age groups in West Mineral: under 25 years, 25-44 years, 45-64 years, and over 65 years
Age-wise distribution of West Mineral household incomes: Comparative analysis across 16 income brackets
Discover the household distribution across 16 income brackets among four distinct age groups in West Mineral: 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 | - | - | 1 | - |
| $10,000 - $14,999 | - | 1 | 1 | 4 |
| $15,000 - $19,999 | - | - | - | 5 |
| $20,000 - $24,999 | - | - | - | - |
| $25,000 - $29,999 | - | - | - | 6 |
| $30,000 - $34,999 | - | 5 | - | 3 |
| $35,000 - $39,999 | - | - | - | 1 |
| $40,000 - $44,999 | - | - | - | 1 |
| $45,000 - $49,999 | - | - | - | 2 |
| $50,000 - $59,999 | - | 3 | - | 6 |
| $60,000 - $74,999 | - | 4 | 3 | 2 |
| $75,000 - $99,999 | - | - | 3 | 1 |
| $100,000 - $124,999 | - | - | - | 1 |
| $125,000 - $149,999 | - | 3 | - | - |
| $150,000 - $199,999 | - | - | - | - |
| $200,000 or more | - | - | - | - |
To further explore the income distribution and gain insights into financial landscape of West Mineral when compared to the state of Kansas 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 West Mineral, 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 West Mineral, among households headed by individuals aged 25 to 44,worth noting that 43.75% match or surpass the state of Kansas median income of $72,624. These 7 households, represent a notable portion of the total 16 households in West Mineral within 25-44 years age group, reflecting commendable financial well-being within the state boundaries.
- Householder 45 to 64 years: In West Mineral, within the age group of 45 to 64 years, a remarkable 75% of households meet or exceed the state of Kansas median income of $72,624. These 6 households, out of the total 8 households in this age cohort, signify a substantial portion of mature demographic of West Mineral, showcasing commendable financial stability in comparison to the Kansas state median income benchmark.
- Householder 65 years and over: In West Mineral, among the over 65 years age group, only 12.50% of households either match or surpass the state of Kansas median income of $72,624. These 4 households, constituting low portion of the West Mineral city senior population, showcase commendable financial stability compared to the Kansas state median income benchmark.
Things to know
Which age group reports the highest median household income in West Mineral, KS?
In West Mineral, households led by individuals aged 25 to 44 years report the highest median household income of $56,401 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 West Mineral, KS?
In terms of income distribution across age cohorts, in West Mineral, where there exist only two delineated age groups, the median household income is $56,401 for householders within the 25 to 44 years age group, compared to $33,841 for the 65 years and over age group..
How does the median household income for households led by individuals of median age compare in West Mineral, KS?
The median age in West Mineral is 36.3, 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, within West Mineral, the age group of 25 to 44 years also exhibits the highest median household income, recorded at $56,401.
References
- U.S. Census Bureau American Community Survey (ACS) 2018-2022 5-Year Estimates
- Consumer Price Index retroactive series using current methods (R-CPI-U-RS)