A Profile of Older Americans: 2012
Of the 25.1 million households headed by older persons in 2011, 81% were owners and 19% were renters. The median family income of older homeowners was $32,900. The median family income of older renters was $16,200. In 2011, almost 50% of older householders spent more than one-fourth of their income on housing costs - 43% for owners and 71% for renters - as compared to 50% of all householders.
For older homeowners in 2011, the median construction year was 1970 compared with 1976 for all homeowners. Among the homes owned by people age 65 and older, 3.3% had physical problems. In 2011, the median value of homes owned by older persons was $150,000 (with a median purchase price of $55,000) compared to a median home value of $160,000 for all homeowners. About 65% of older homeowners in 2011 owned their homes free and clear.
(Based on online data sponsored by the Department of Housing and Urban Development, available from the U.S. Census Bureau, American Housing Survey, National Tables: 2011.)
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Last Modified: 12/31/1600