The Administration for Community Living published its Annual Summary of Statistics On Older Adults that illustrates the shifting demographics of Americans age 65 and older. It includes statistics on future population growth, marital status, living arrangements, income, employment and health.
Principal sources of data included the U.S. Census Bureau, the National Center for Health Statistics and the Bureau of Labor Statistics.
Highlights:
- In 2020, the 65+ population was 30.8 million women and 24.8 million men;
- People age 65+ represented 17 percent of the population in the year 2020. That is expected to grow to 22 percent by 2040;
- In 2020, the four states with the highest percentage of populations age 65+ were Maine, Florida, West Virginia and Vermont;
- The 2020 median income of older persons was $26,668 ($35,808 for men and $21,245 for women).
- The median household income of older homeowners age 75+ was $36,200 in 2019;
- In 2021, 10.6 million Americans age 65+ were in the labor force (working or actively seeking work); and
- Consumers age 65+ averaged out-of-pocket health care expenditures of $6,668 in 2020, up 38% from 2010.
