Median Household Income by Age of Householder in Wiota, IA (2022, in 2023 inflation-adjusted dollars)
This table presents the distribution of median household income among distinct age brackets of householders in Wiota. Based on the latest 5-Year estimates from the American Community Survey, it displays how income varies among householders of different ages in Wiota.
| Age Of The Head Of Household | Median Household Income |
|---|---|
| Under 25 years | - |
| 25 to 44 years | $52,713 |
| 45 to 64 years | $79,395 |
| 65 years and over | $76,234 |
TABLE OF CONTENTS
Wiota, IA 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 Wiota population by age, the median age in Wiota is 70 years.
Typically for a location with median age in this range, it suggests a significant population of retirees or older individuals. Interestingly, within Wiota, the age group of 65 years and over exhibited the second-highest median household income, recorded at $76,234.
In terms of income distribution across age cohorts, in Wiota, the median household income stands at $79,395 for householders within the 45 to 64 years age group, followed by $76,234 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 $52,713.
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 Wiota.
FIGURE 1
Wiota, IA median household income by age of householder
It offers a clear illustration of the differences in median household incomes in Wiota, 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, 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 $44,387(126.79%), escalating from a median of $35,008 in 2012 to $79,395 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 $9,370(21.62%), increasing from a median of $43,343 in 2012 to $52,713 in 2022.
Wiota, IA household income distribution across age groups
To gain a comprehensive understanding of the financial landscape within the Wiota 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, 5(10.20%) households with a householder aged between 25 and 44 years, 14(28.57%) households with a householder aged between 45 and 64 years, and 30(61.22%) 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 city of Wiota, showcasing varying income levels among different age demographics.
FIGURE 2
Wiota, IA household income distribution across age groups
Household income distribution across 16 income brackets among four distinct age groups in Wiota: under 25 years, 25-44 years, 45-64 years, and over 65 years
Age-wise distribution of Wiota household incomes: Comparative analysis across 16 income brackets
Discover the household distribution across 16 income brackets among four distinct age groups in Wiota: 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 | - | - | - | - |
| $10,000 - $14,999 | - | - | 1 | - |
| $15,000 - $19,999 | - | - | - | 1 |
| $20,000 - $24,999 | - | 2 | - | 2 |
| $25,000 - $29,999 | - | - | - | 2 |
| $30,000 - $34,999 | - | - | - | 1 |
| $35,000 - $39,999 | - | - | - | - |
| $40,000 - $44,999 | - | - | - | - |
| $45,000 - $49,999 | - | - | - | 4 |
| $50,000 - $59,999 | - | 3 | 1 | 1 |
| $60,000 - $74,999 | - | - | 4 | 14 |
| $75,000 - $99,999 | - | - | 6 | 3 |
| $100,000 - $124,999 | - | - | - | - |
| $125,000 - $149,999 | - | - | 2 | - |
| $150,000 - $199,999 | - | - | - | - |
| $200,000 or more | - | - | - | 2 |
To further explore the income distribution and gain insights into financial landscape of Wiota when compared to the state of Iowa 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 Wiota, 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 Wiota, there are no households led by individuals aged 25 to 44, that meet or surpass the state of Iowa median income of $73,482. Thus of the total 5 households in Wiota, where the householder is 25-44 years old, none had an income higher than the median state income.
- Householder 45 to 64 years: In Wiota, within the age group of 45 to 64 years, a remarkable 85.71% of households meet or exceed the state of Iowa median income of $73,482. These 12 households, out of the total 14 households in this age cohort, signify a substantial portion of mature demographic of Wiota, showcasing commendable financial stability in comparison to the Iowa state median income benchmark.
- Householder 65 years and over: In Wiota, among the over 65 years age group, an impressive 63.33% of households either match or surpass the state of Iowa median income of $73,482. These 19 households, constituting a significant portion of the Wiota city senior population, showcase commendable financial stability compared to the Iowa state median income benchmark.
Things to know
Which age group reports the highest median household income in Wiota, IA?
In Wiota, households led by individuals aged 45 to 64 years report the highest median household income of $79,395 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 Wiota, IA?
In terms of income distribution across age cohorts, in Wiota, the median household income stands at $79,395 for householders within the 45 to 64 years age group, followed by $76,234 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 $52,713..
How does the median household income for households led by individuals of median age compare in Wiota, IA?
The median age in Wiota is 70, which falls within the 65 years and over range among the four age groups defined by the US Census Bureau. This demographic suggests a significant population of retirees or older individuals. Interestingly, within Wiota, the age group of 65 years and over exhibited the second-highest median household income, recorded at $76,234.
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)