A Profile of Older Americans: 2004
Of the 21.6 million households headed by older persons in 2003, 80%
were owners and 20% were renters. The median family income of older homeowners
was $25,353. The median family income of older renters was $13,540. In
2003, 42% of older householders spent more than one-fourth of their income
on housing costs - 35% for owners and 76% for renters - .as compared
to 41% of all householders.
For homes occupied by older householders in 2003, the median year of
construction was 1965 (it was 1971 for all householders) and 5.2% had
physical problems. In 2003, the median value of homes owned by older
persons was $122,790 (with a median purchase price of $32,905) compared
to a median home value of $140,201 for all homeowners. About 72% of older
homeowners in 2003 owned their homes free and clear.
(Source: "American Housing Survey for the United States
in 2003, Current Housing Reports" H150/03)
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