A Profile of Older Americans: 2003 — Housing

A Profile of Older Americans: 2003 was prepared by the Administration on Aging (AoA), U.S. Department of Health and Human Services. AoA serves as an advocate for the elderly within the federal government and is working to encourage and coordinate a responsive system of family and community based services throughout the nation. AoA helps states develop comprehensive service systems which are administer by 56 State and Territorial Units on Aging, 655 Area Agencies on Aging, 226 Native American and Hawaiian organizations, and more than 29,000 local service providers.

Visit the Administration on Aging Web site (www.aoa.gov) to review the entire profile.

• The older population — persons 65 years or older — numbered 35.6 million in 2002 (the most recent year for which data are available). They represented 12.3% of the U.S. population, about one in every eight Americans. The number of older Americans increased by 3.3 million or 10.2% since 1992.
• 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 home owners. About 73% of older home owners in 2001 owned their homes free and clear.

Source: "American Housing Survey for the United States in 2001, Current Housing Reports" H150/01. [ return to top ]