West Union, SC Median Household Income By Age

West Union, SC 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 Union population by age, the median age in West Union is 33.2 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 Union, the age group of 25 to 44 years also exhibits the highest median household income, recorded at $75,304.

In terms of income distribution across age cohorts, in West Union, the median household income stands at $75,304 for householders within the 25 to 44 years age group, followed by $46,422 for the 65 years and over age group. Notably, householders within the 45 to 64 years age group, had the lowest median household income at $38,722.

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 West Union.

FIGURE 1

West Union, SC median household income by age of householder

It offers a clear illustration of the differences in median household incomes in West Union, 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, one groups encountered a decline in their median household income, while the remaining two experienced an increase during this period. Notably, household income for individuals within the 25 to 44 years age group demonstrated a remarkable increase of $49,145(187.87%), escalating from a median of $26,159 in 2012 to $75,304 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 $2,954(7.09%), declining from a median of $41,676 in 2012 to $38,722 in 2022.

West Union, SC household income distribution across age groups

To gain a comprehensive understanding of the financial landscape within the West Union 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 9(6.16%) households where the householder is under 25 years old, 64(43.84%) households with a householder aged between 25 and 44 years, 36(24.66%) households with a householder aged between 45 and 64 years, and 37(25.34%) households where the householder is over 65 years old.

In West Union, 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

West Union, SC household income distribution across age groups

Household income distribution across 16 income brackets among four distinct age groups in West Union: 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 West Union when compared to the state of South Carolina 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 only 22.22% of the households in West Union, where householders are under 25 years old, are either within or surpass the income bracket representing the median income of $66,248 for the state of South Carolina. These 2 West Union households demonstrate a significant financial standing, aligning with or exceeding the median income of the state.
• Householder 25 to 44 years: In West Union, among households headed by individuals aged 25 to 44, an impressive 70.31% match or surpass the state of South Carolina median income of $66,248. These 45 households, represent a significant portion of the total 64 households in West Union within 25-44 years age group, reflecting commendable financial well-being within the state boundaries.
• Householder 45 to 64 years: In West Union, within the age group of 45 to 64 years, a noteworthy 27.78% of households meet or exceed the state of South Carolina median income of $66,248. These 10 households, out of the total 36 households in this age cohort, signify a notable portion of mature demographic of West Union, showcasing commendable financial stability in comparison to the South Carolina state median income benchmark.
• Householder 65 years and over: In West Union, among the over 65 years age group, only 13.51% of households either match or surpass the state of South Carolina median income of $66,248. These 5 households, constituting low portion of the West Union town senior population, showcase commendable financial stability compared to the South Carolina state median income benchmark.

Things to know

Which age group reports the highest median household income in West Union, SC?

In West Union, households led by individuals aged 25 to 44 years report the highest median household income of $75,304 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 Union, SC?

In terms of income distribution across age cohorts, in West Union, the median household income stands at $75,304 for householders within the 25 to 44 years age group, followed by $46,422 for the 65 years and over age group. Notably, householders within the 45 to 64 years age group, had the lowest median household income at $38,722..

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

The median age in West Union is 33.2, 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 Union, the age group of 25 to 44 years also exhibits the highest median household income, recorded at $75,304.

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