Median Household Income by Age of Householder in Williamsburg city, VA (2022, in 2023 inflation-adjusted dollars)
This table presents the distribution of median household income among distinct age brackets of householders in Williamsburg city. Based on the latest 5-Year estimates from the American Community Survey, it displays how income varies among householders of different ages in Williamsburg city.
| Age Of The Head Of Household | Median Household Income |
|---|---|
| Under 25 years | - |
| 25 to 44 years | $61,214 |
| 45 to 64 years | $97,299 |
| 65 years and over | $81,954 |
TABLE OF CONTENTS
Williamsburg city, VA 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 Williamsburg city population by age, the median age in Williamsburg city is 24.6 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 Williamsburg city. 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 Williamsburg city, the median household income stands at $97,299 for householders within the 45 to 64 years age group, followed by $81,954 for the 65 years and over age group. Notably, householders within the 25 to 44 years age group, had the lowest median household income at $61,214.
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 county of Williamsburg city.
FIGURE 1
Williamsburg city, VA median household income by age of householder
It offers a clear illustration of the differences in median household incomes in Williamsburg city, 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 45 to 64 years age group demonstrated a remarkable increase of $18,059(22.79%), escalating from a median of $79,240 in 2012 to $97,299 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 $8,468(12.15%), declining from a median of $69,682 in 2012 to $61,214 in 2022.
Williamsburg city, VA household income distribution across age groups
To gain a comprehensive understanding of the financial landscape within the Williamsburg city 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 489(10.02%) households where the householder is under 25 years old, 1,316(26.96%) households with a householder aged between 25 and 44 years, 1,367(28%) households with a householder aged between 45 and 64 years, and 1,710(35.03%) 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 county of Williamsburg city, showcasing varying income levels among different age demographics.
FIGURE 2
Williamsburg city, VA household income distribution across age groups
Household income distribution across 16 income brackets among four distinct age groups in Williamsburg city: under 25 years, 25-44 years, 45-64 years, and over 65 years
Age-wise distribution of Williamsburg city household incomes: Comparative analysis across 16 income brackets
Discover the household distribution across 16 income brackets among four distinct age groups in Williamsburg city: 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 | 159 | 55 | 24 | 85 |
| $10,000 - $14,999 | 23 | - | 19 | 21 |
| $15,000 - $19,999 | 63 | 5 | 60 | 38 |
| $20,000 - $24,999 | 9 | 111 | 46 | 130 |
| $25,000 - $29,999 | 6 | 49 | 14 | 122 |
| $30,000 - $34,999 | 8 | 140 | 39 | 72 |
| $35,000 - $39,999 | 25 | 42 | 37 | 40 |
| $40,000 - $44,999 | 36 | 126 | 27 | 12 |
| $45,000 - $49,999 | 44 | 21 | 108 | 16 |
| $50,000 - $59,999 | 6 | 140 | 62 | 130 |
| $60,000 - $74,999 | 51 | 157 | 141 | 150 |
| $75,000 - $99,999 | 11 | 183 | 179 | 261 |
| $100,000 - $124,999 | 32 | 147 | 95 | 172 |
| $125,000 - $149,999 | - | 39 | 86 | 84 |
| $150,000 - $199,999 | 16 | 59 | 207 | 160 |
| $200,000 or more | - | 42 | 223 | 217 |
To further explore the income distribution and gain insights into financial landscape of Williamsburg city when compared to the state of Virginia 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 12.07% of the households in Williamsburg city, where householders are under 25 years old, are either within or surpass the income bracket representing the median income of $90,848 for the state of Virginia. These 59 Williamsburg city households demonstrate a significant financial standing, aligning with or exceeding the median income of the state.
- Householder 25 to 44 years: In Williamsburg city, among households headed by individuals aged 25 to 44,worth noting that 35.71% match or surpass the state of Virginia median income of $90,848. These 470 households, represent a notable portion of the total 1,316 households in Williamsburg city within 25-44 years age group, reflecting commendable financial well-being within the state boundaries.
- Householder 45 to 64 years: In Williamsburg city, within the age group of 45 to 64 years, a remarkable 57.79% of households meet or exceed the state of Virginia median income of $90,848. These 790 households, out of the total 1,367 households in this age cohort, signify a substantial portion of mature demographic of Williamsburg city, showcasing commendable financial stability in comparison to the Virginia state median income benchmark.
- Householder 65 years and over: In Williamsburg city, among the over 65 years age group, an impressive 52.28% of households either match or surpass the state of Virginia median income of $90,848. These 894 households, constituting a significant portion of the Williamsburg city county senior population, showcase commendable financial stability compared to the Virginia state median income benchmark.
Things to know
Which age group reports the highest median household income in Williamsburg city, VA?
In Williamsburg city, households led by individuals aged 45 to 64 years report the highest median household income of $97,299 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 Williamsburg city, VA?
In terms of income distribution across age cohorts, in Williamsburg city, the median household income stands at $97,299 for householders within the 45 to 64 years age group, followed by $81,954 for the 65 years and over age group. Notably, householders within the 25 to 44 years age group, had the lowest median household income at $61,214..
How does the median household income for households led by individuals of median age compare in Williamsburg city, VA?
The median age in Williamsburg city is 24.6, 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 Williamsburg city. 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
- 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)