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Research Outline
Prepared for Patrick N. | Delivered October 19, 2020
Profile of 30-35 Year Olds
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Goals
To provide a demographic profile of 30-35 year olds with fair to good credit (550-700 FICO) including income, education, political party, ethnicity, marital status, and children.
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Early Findings
Population Size and Gender
The population size for people aged 30-34 in the U.S. is
22.4 million
. About
11.4 million
of those aged 30-34 are male, while
11 million
are female.
Income of 30-34 Year Olds with FICO Score of 500-700
41%
of 30-39 year olds have a FICO score of less than 621,
18%
have a score of 621-680, and
10%
have a score of 680-720.
The average FICO score for those aged 30-39 is
673
.
People in the low-income bracket earning less than
50%
of the median family income have an average credit score of 664; while moderate income earners, earning
50-75%
of the median family income, have a 716 average credit score.
The median household income in the U.S. in 2019 was
$65,712
.
Based on this, an income estimate for low income households with less than 50% of the median family income is $32,856 (
50%
of
$65,712
), while households with moderate income of 50-75% of the median household income earn $32,856 (
50%
of
$65,712
) to $49,284 (
75%
of
$65,712
).
With this estimates, the population of 30-34 year olds with an income of may be estimated to have an income of $32,856-$49,284, and this segment adds up to 1.8 million people:
$30,000 to $34,999 :
449 ,000
$35,000 to $39,999 :
413,000
$40,000 to $44,999:
548,000
$45,000 to $49,999:
428,000
.
Ethnicity
The
ethnic breakdown
of 30-34 year olds in the U.S. is:
White (Hispanic and Non-Hispanic): 17 million
Black (Hispanic and Non-Hispanic): 1.6 million
American Indian and Alaska Native (Hispanic and Non-Hispanic): 0.5 million
Asian (Hispanic and Non-Hispanic): 1.9 million
Native Hawaiian and Other Pacific Islander (Hispanic and Non-Hispanic): 0.1 million
Political Party Affiliation of 30-35 Year Olds
According to
Pew Research,
"Millennials (ages 24 to 39 in 2020), are more Democratic leaning than older generations: 54% of Millennials identify with the Democratic Party or lean Democratic, while 38% identify with or lean to the GOP."
Summary of Findings
In this preliminary hour of research we found information to triangulate an indicative estimate of the income for 30-35 year old based on the FICO score provided. We also provided information on the political affiliation in this group.
From our research, the demographic details may not specifically be available in the age bracket provided (30-35). In some instances it is provided as 30-34, 30-39 of 25-39.
We have focused on the U.S.
Due to time constraints, we were unable to provide the other requested details and suggest continued research as below:
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