Median Household Income by Age of Householder in Woodward township, Clinton County, Pennsylvania (In 2023 inflation-adjusted dollars)
This table presents the distribution of median household income among distinct age brackets of householders in Woodward township. Based on the latest 5-Year estimates from the American Community Survey, it displays how income varies among householders of different ages in Woodward township.
| Age Of The Head Of Household | Median Household Income |
|---|---|
| Under 25 years | - |
| 25 to 44 years | $107,738 |
| 45 to 64 years | $115,781 |
| 65 years and over | $42,813 |
TABLE OF CONTENTS
Woodward township, Clinton County, Pennsylvania 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 Woodward township population by age, the median age in Woodward township is 46 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 Woodward township, the age group of 45 to 64 years also exhibits the highest median household income, recorded at $115,781.
In terms of income distribution across age cohorts, in Woodward township, the median household income stands at $115,781 for householders within the 45 to 64 years age group, followed by $107,738 for the 25 to 44 years age group. Notably, householders within the 65 years and over age group, had the lowest median household income at $42,813.
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 township of Woodward township.
FIGURE 1
Woodward township, Clinton County, Pennsylvania median household income by age of householder
It offers a clear illustration of the differences in median household incomes in Woodward township, 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 2013 and 2023, 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 $24,640(27.04%), escalating from a median of $91,141 in 2013 to $115,781 in 2023. 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 $13,510(11.14%), declining from a median of $121,248 in 2013 to $107,738 in 2023.
Woodward township, Clinton County, Pennsylvania household income distribution across age groups
To gain a comprehensive understanding of the financial landscape within the Woodward township 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 13(1.43%) households where the householder is under 25 years old, 248(27.34%) households with a householder aged between 25 and 44 years, 364(40.13%) households with a householder aged between 45 and 64 years, and 282(31.09%) households where the householder is over 65 years old.
In Woodward township, 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
Woodward township, Clinton County, Pennsylvania household income distribution across age groups
Household income distribution across 16 income brackets among four distinct age groups in Woodward township: under 25 years, 25-44 years, 45-64 years, and over 65 years
Age-wise distribution of Woodward township household incomes: Comparative analysis across 16 income brackets
Discover the household distribution across 16 income brackets among four distinct age groups in Woodward township: 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 | 13 | 10 | 8 | 39 |
| $10,000 - $14,999 | - | - | 6 | 5 |
| $15,000 - $19,999 | - | - | 3 | 49 |
| $20,000 - $24,999 | - | - | 16 | 11 |
| $25,000 - $29,999 | - | - | 12 | 16 |
| $30,000 - $34,999 | - | - | 5 | 11 |
| $35,000 - $39,999 | - | - | 6 | 5 |
| $40,000 - $44,999 | - | 6 | 4 | 12 |
| $45,000 - $49,999 | - | 4 | 3 | 17 |
| $50,000 - $59,999 | - | - | 41 | 12 |
| $60,000 - $74,999 | - | 9 | 34 | 25 |
| $75,000 - $99,999 | - | 85 | 34 | 42 |
| $100,000 - $124,999 | - | 29 | 45 | 26 |
| $125,000 - $149,999 | - | 20 | 21 | 7 |
| $150,000 - $199,999 | - | 80 | 65 | 5 |
| $200,000 or more | - | 5 | 61 | - |
To further explore the income distribution and gain insights into financial landscape of Woodward township when compared to the state of Pennsylvania 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 Woodward township, where householders are under 25 years old, fall within or exceed the income bracket representing the median income of $76,081 for the state of Pennsylvania. 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 Woodward township, among households headed by individuals aged 25 to 44, an impressive 88.31% match or surpass the state of Pennsylvania median income of $76,081. These 219 households, represent a significant portion of the total 248 households in Woodward township within 25-44 years age group, reflecting commendable financial well-being within the state boundaries.
- Householder 45 to 64 years: In Woodward township, within the age group of 45 to 64 years, a remarkable 62.09% of households meet or exceed the state of Pennsylvania median income of $76,081. These 226 households, out of the total 364 households in this age cohort, signify a substantial portion of mature demographic of Woodward township, showcasing commendable financial stability in comparison to the Pennsylvania state median income benchmark.
- Householder 65 years and over: In Woodward township, among the over 65 years age group, a noteworthy 28.37% of households either match or surpass the state of Pennsylvania median income of $76,081. These 80 households, constituting notable portion of the Woodward township township senior population, showcase commendable financial stability compared to the Pennsylvania state median income benchmark.
Things to know
Which age group reports the highest median household income in Woodward township, Clinton County, Pennsylvania?
In Woodward township, households led by individuals aged 45 to 64 years report the highest median household income of $115,781 according to the American Community Survey 2019-2023 5-Year Estimates by the US Census Bureau.
How does the median household income vary by age in Woodward township, Clinton County, Pennsylvania?
In terms of income distribution across age cohorts, in Woodward township, the median household income stands at $115,781 for householders within the 45 to 64 years age group, followed by $107,738 for the 25 to 44 years age group. Notably, householders within the 65 years and over age group, had the lowest median household income at $42,813..
How does the median household income for households led by individuals of median age compare in Woodward township, Clinton County, Pennsylvania?
The median age in Woodward township is 46, 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 Woodward township, the age group of 45 to 64 years also exhibits the highest median household income, recorded at $115,781.
References
- U.S. Census Bureau American Community Survey (ACS) 2019-2023 5-Year Estimates
- Consumer Price Index retroactive series using current methods (R-CPI-U-RS)
