Statistics

A Profile of Older Americans: 2003

Housing

Of the 21.8 million households headed by older persons in 2001, 80% were owners and 20% were renters. The median family income of older homeowners was $23,409. The median family income of older renters was $12,233. In 2001, 41% of older householders spent more than one-fourth of their income on housing costs, compared to 39% of for householders of all ages.

For homes occupied by older householders in 2001, the median year of construction was 1963 (it was 1970 for all householders) and 5.4% had physical problems.

In 2001, the median value of homes owned by older persons was $107,398, compared to a median home value of $123,887 for all homeowners. About 73% of older homeowners in 2001 owned their homes free and clear.

(Source: "American Housing Survey for the United States in 2001, Current Housing Reports" H150/01.)