Statistics

Housing

Of the 2.2 million households headed by older persons in 2005, 80% were owners and 20% were renters. The median family income of older homeowners was $26,899. The median family income of older renters was $13,377. In 2005, 48% of older householders spent more than one-fourth of their income on housing costs - 43% for owners and 82% for renters - .as compared to 37% of all householders.

For homes of older householders in 2005, the median construction year was 1966 (it was 1974 for all householders) and 4.7% of the homes had physical problems. In 2005, the median value of homes owned by older persons was $143,697 (with a median purchase price of $38,182) compared to a median home value of $165,344 for all homeowners. About 68% of older homeowners in 2005 owned their homes free and clear.

(Source: "Amer. Housing Survey for the United States in 2005, Current Housing Reports" H150/05)

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AoA - Statistics - A Profile of Older Americans 2007 - Employment