According to the United States Census Bureau, the town's median household income is $121,047 with 43.6% of residents having received a Bachelor's Degree or Higher.
2020 census As of the
2020 census, Severance had a population of 7,683. The median age was 32.6 years. 31.2% of residents were under the age of 18 and 8.0% of residents were 65 years of age or older. For every 100 females, there were 101.4 males, and for every 100 females age 18 and over, there were 102.5 males age 18 and over. 82.8% of residents lived in urban areas, while 17.2% lived in rural areas. There were 2,488 households in Severance, of which 49.4% had children under the age of 18 living in them. Of all households, 72.8% were married-couple households, 10.5% were households with a male householder and no spouse or partner present, and 9.8% were households with a female householder and no spouse or partner present. About 9.6% of all households were made up of individuals and 2.3% had someone living alone who was 65 years of age or older. There were 2,568 housing units, of which 3.1% were vacant. The homeowner vacancy rate was 2.1% and the rental vacancy rate was 4.6%. ==Governance==