As the average life expectancy has climbed to accommodate the growing number of aging Americans, so has the number of households headed by older adults, according to recent data collected by the U.S. Census Bureau.
The share of households headed by Americans ages 45-64—also known as Boomers—accounted for 39% of American households in 2012.
The Census reports that since 1960, the share of householders age 75 and older has increased to 10% in 2012. While households for Americans ages 30-44 have declined in recent years—accounting for 32% of all households in 1960, now reaching 26% in 2012—the number of older households has showed no signs of slowing down.
Collected by the U.S. Census Bureau in association with statistics from America’s Families and Living Arrangements: 2012, the survey notes the share of households headed by 55-64 year olds increased over the last two decades, from 13% in 1990 to 19% in 2012.
Meanwhile, households headed by adults 30 years old or younger fell from 16% to 13% over the same period in which boomers rose.
Given these recent statistics collected by the U.S. Census Bureau for 2012, the increasing number of aging homeowners could fan the flames for a rising demand in long-term care in the years to come.
Written by Jason Oliva