A Profile of
Older Americans: 2008
Of the 2.9 million households headed by older persons in 2007, 80% were owners and 20% were renters. The median family income of older homeowners was $29,899. The median family income of older renters was $15,130. In 2007, 46% of older householders spent more than one-fourth of their income on housing costs - 39% for owners and 73% for renters - as compared to 46% of all householders.
For homes of older householders in 2007, the median construction year was 1969 (it was 1973 for all householders) and 4.4% of the homes had physical problems. In 2007, the median value of homes owned by older persons was $168,654 (with a median purchase price of $45,191) compared to a median home value of $191,471 for all homeowners. About 68% of older homeowners in 2007 owned their homes free and clear.
(Source: "American Housing Survey for the United States: 2007, Current Housing Reports" H150/07)
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AoA - Statistics - A Profile of Older Americans
2008 - Employment
Last Modified: 12/31/1600