Wimbledon, ND Median Household Income By Age

Wimbledon, ND 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 Wimbledon population by age, the median age in Wimbledon is 48.3 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 Wimbledon, the age group of 45 to 64 years also exhibits the highest median household income, recorded at $105,613.

In terms of income distribution across age cohorts, in Wimbledon, where there exist only two delineated age groups, the median household income is $105,613 for householders within the 45 to 64 years age group, compared to $58,896 for the 25 to 44 years 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 Wimbledon.

FIGURE 1

Wimbledon, ND median household income by age of householder

It offers a clear illustration of the differences in median household incomes in Wimbledon, 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, none had a decline during this time period. Notably, household income for individuals within the 45 to 64 years age group demonstrated a remarkable increase of $42,266(66.72%), escalating from a median of $63,347 in 2012 to $105,613 in 2022. Conversely, the age group of 25 to 44 years years witnessed the smallest growth in household income across the same span. Their median income saw a small increase of $4,717(8.71%), increasing from a median of $54,179 in 2012 to $58,896 in 2022.

Wimbledon, ND household income distribution across age groups

To gain a comprehensive understanding of the financial landscape within the Wimbledon 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 6(8%) households where the householder is under 25 years old, 20(26.67%) households with a householder aged between 25 and 44 years, 40(53.33%) households with a householder aged between 45 and 64 years, and 9(12%) households where the householder is over 65 years old.

In Wimbledon, the age group of 45 to 64 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

Wimbledon, ND household income distribution across age groups

Household income distribution across 16 income brackets among four distinct age groups in Wimbledon: 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 Wimbledon when compared to the state of North Dakota 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 Wimbledon, where householders are under 25 years old, fall within or exceed the income bracket representing the median income of $77,010 for the state of North Dakota. 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 Wimbledon, among households headed by individuals aged 25 to 44,noteworthy that only 20% match or surpass the state of North Dakota median income of $77,010. These 4 households, represent a low portion of the total 20 households in Wimbledon within 25-44 years age group, reflecting commendable financial well-being within the state boundaries.
• Householder 45 to 64 years: In Wimbledon, within the age group of 45 to 64 years, a remarkable 67.50% of households meet or exceed the state of North Dakota median income of $77,010. These 27 households, out of the total 40 households in this age cohort, signify a substantial portion of mature demographic of Wimbledon, showcasing commendable financial stability in comparison to the North Dakota state median income benchmark.
• Householder 65 years and over: In Wimbledon, among the over 65 years age group, an impressive 66.67% of households either match or surpass the state of North Dakota median income of $77,010. These 6 households, constituting a significant portion of the Wimbledon city senior population, showcase commendable financial stability compared to the North Dakota state median income benchmark.

Things to know

Which age group reports the highest median household income in Wimbledon, ND?

In Wimbledon, households led by individuals aged 45 to 64 years report the highest median household income of $105,613 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 Wimbledon, ND?

In terms of income distribution across age cohorts, in Wimbledon, where there exist only two delineated age groups, the median household income is $105,613 for householders within the 45 to 64 years age group, compared to $58,896 for the 25 to 44 years age group..

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

The median age in Wimbledon is 48.3, 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 Wimbledon, the age group of 45 to 64 years also exhibits the highest median household income, recorded at $105,613.

References

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