A Profile of Older Americans: 2011
Of the 23.1 million households headed by older persons in 2009, 80% were owners and 20% were renters. The median family income of older homeowners was $30,400. The median family income of older renters was $15,744. In 2009, 48% of older householders spent more than one-fourth of their income on housing costs - 42% for owners and 70% for renters - as compared to 48% of all householders.
For homes of older householders in 2007, the median construction year was 1970 (it was 1974 for all householders) and 4.3% of the homes had physical problems. In 2009, the median value of homes owned by older persons was $150,000 (with a median purchase price of $49,000) compared to a median home value of $170,500 for all homeowners. About 65% of older homeowners in 2009 owned their homes free and clear.
(Source: American Housing Survey National Tables: 2009, U.S. Census Bureau web site)
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Last Modified: 12/31/1600