Young Harris, GA Median Household Income By Age

Young Harris, GA 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 Young Harris population by age, the median age in Young Harris is 20.4 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, within Young Harris, the age group of Under 25 years exhibited the second-highest median household income, recorded at $24,916.

In terms of income distribution across age cohorts, in Young Harris, the median household income stands at $79,953 for householders within the 45 to 64 years age group, followed by $24,916 for the under 25 years age group. Notably, householders within the 65 years and over age group, had the lowest median household income at $16,329.

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 Young Harris.

FIGURE 1

Young Harris, GA median household income by age of householder

It offers a clear illustration of the differences in median household incomes in Young Harris, 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 $76,620(2298.83%), escalating from a median of $3,333 in 2012 to $79,953 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 $34,516(67.88%), declining from a median of $50,845 in 2012 to $16,329 in 2022.

Young Harris, GA household income distribution across age groups

To gain a comprehensive understanding of the financial landscape within the Young Harris 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 12(6.25%) households where the householder is under 25 years old, 58(30.21%) households with a householder aged between 25 and 44 years, 60(31.25%) households with a householder aged between 45 and 64 years, and 62(32.29%) 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 Young Harris, showcasing varying income levels among different age demographics.

FIGURE 2

Young Harris, GA household income distribution across age groups

Household income distribution across 16 income brackets among four distinct age groups in Young Harris: 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 Young Harris when compared to the state of Georgia 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 Young Harris, where householders are under 25 years old, fall within or exceed the income bracket representing the median income of $74,298 for the state of Georgia. 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 Young Harris, among households headed by individuals aged 25 to 44,worth noting that 25.86% match or surpass the state of Georgia median income of $74,298. These 15 households, represent a notable portion of the total 58 households in Young Harris within 25-44 years age group, reflecting commendable financial well-being within the state boundaries.
• Householder 45 to 64 years: In Young Harris, within the age group of 45 to 64 years, a remarkable 68.33% of households meet or exceed the state of Georgia median income of $74,298. These 41 households, out of the total 60 households in this age cohort, signify a substantial portion of mature demographic of Young Harris, showcasing commendable financial stability in comparison to the Georgia state median income benchmark.
• Householder 65 years and over: In Young Harris, among the over 65 years age group, only 11.29% of households either match or surpass the state of Georgia median income of $74,298. These 7 households, constituting low portion of the Young Harris city senior population, showcase commendable financial stability compared to the Georgia state median income benchmark.

Things to know

Which age group reports the highest median household income in Young Harris, GA?

In Young Harris, households led by individuals aged 45 to 64 years report the highest median household income of $79,953 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 Young Harris, GA?

In terms of income distribution across age cohorts, in Young Harris, the median household income stands at $79,953 for householders within the 45 to 64 years age group, followed by $24,916 for the under 25 years age group. Notably, householders within the 65 years and over age group, had the lowest median household income at $16,329..

How does the median household income for households led by individuals of median age compare in Young Harris, GA?

The median age in Young Harris is 20.4, 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, within Young Harris, the age group of Under 25 years exhibited the second-highest median household income, recorded at $24,916.

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