Wildwood Crest, NJ Median Household Income By Age

Wildwood Crest, NJ 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 Wildwood Crest population by age, the median age in Wildwood Crest is 63 years.

Typically for a location with median age in this range, it tends to house more established professionals, possibly reflecting stable households and higher earning poptential. Interestingly, within Wildwood Crest, the age group of 45 to 64 years also exhibits the highest median household income, recorded at $87,105.

In terms of income distribution across age cohorts, in Wildwood Crest, where there exist only two delineated age groups, the median household income is $87,105 for householders within the 45 to 64 years age group, compared to $59,587 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 borough of Wildwood Crest.

FIGURE 1

Wildwood Crest, NJ median household income by age of householder

It offers a clear illustration of the differences in median household incomes in Wildwood Crest, 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 45 to 64 years age group demonstrated a remarkable increase of $27,648(46.50%), escalating from a median of $59,457 in 2012 to $87,105 in 2022. Conversely, the age group of 65 years and over years witnessed the most significant decline in household income across the same span. Their median income saw a substantial drop of $13,217(18.15%), declining from a median of $72,804 in 2012 to $59,587 in 2022.

Wildwood Crest, NJ household income distribution across age groups

To gain a comprehensive understanding of the financial landscape within the Wildwood Crest 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 34(1.81%) households where the householder is under 25 years old, 120(6.40%) households with a householder aged between 25 and 44 years, 720(38.40%) households with a householder aged between 45 and 64 years, and 1,001(53.39%) households where the householder is over 65 years old.

The age group of 45 to 64 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 borough of Wildwood Crest, showcasing varying income levels among different age demographics.

FIGURE 2

Wildwood Crest, NJ household income distribution across age groups

Household income distribution across 16 income brackets among four distinct age groups in Wildwood Crest: 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 Wildwood Crest when compared to the state of New Jersey 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 Wildwood Crest, where householders are under 25 years old, fall within or exceed the income bracket representing the median income of $101,133 for the state of New Jersey. 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 Wildwood Crest, among households headed by individuals aged 25 to 44,worth noting that 39.17% match or surpass the state of New Jersey median income of $101,133. These 47 households, represent a notable portion of the total 120 households in Wildwood Crest within 25-44 years age group, reflecting commendable financial well-being within the state boundaries.
• Householder 45 to 64 years: In Wildwood Crest, within the age group of 45 to 64 years, a noteworthy 39.72% of households meet or exceed the state of New Jersey median income of $101,133. These 286 households, out of the total 720 households in this age cohort, signify a notable portion of mature demographic of Wildwood Crest, showcasing commendable financial stability in comparison to the New Jersey state median income benchmark.
• Householder 65 years and over: In Wildwood Crest, among the over 65 years age group, a noteworthy 31.17% of households either match or surpass the state of New Jersey median income of $101,133. These 312 households, constituting notable portion of the Wildwood Crest borough senior population, showcase commendable financial stability compared to the New Jersey state median income benchmark.

Things to know

Which age group reports the highest median household income in Wildwood Crest, NJ?

In Wildwood Crest, households led by individuals aged 45 to 64 years report the highest median household income of $87,105 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 Wildwood Crest, NJ?

In terms of income distribution across age cohorts, in Wildwood Crest, where there exist only two delineated age groups, the median household income is $87,105 for householders within the 45 to 64 years age group, compared to $59,587 for the 65 years and over age group..

How does the median household income for households led by individuals of median age compare in Wildwood Crest, NJ?

The median age in Wildwood Crest is 63, which falls within the 45 to 64 years range among the four age groups defined by the US Census Bureau. This demographic tends to house more established professionals, possibly reflecting stable households and higher earning poptential. Interestingly, within Wildwood Crest, the age group of 45 to 64 years also exhibits the highest median household income, recorded at $87,105.

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