44% Increase in Households Headed by People Aged 65 to 74

​The number of households in the United States grew by 1.4 million between 2017 and 2018, according to the Census Bureau's Current Population Survey. Household growth appears to be back on track after anemic growth between 2016 and 2017.

Since 2010, the nation's households have expanded by 10 million, rising from 118 million to 128 million. But only one age group accounts for most of the increase. The number of householders aged 65 to 74 grew by an enormous 44 percent between 2010 and 2018, accounting for 58 percent of total household growth during those years..

Households by age of householder (and % change, 2010-18)

Total households: 127,586,000 (+8.5%)

• Under age 25: 6,211,000 (-0.4%)
• Aged 25 to 34: 20,264,000 (+5.2%)
• Aged 35 to 44: 21,576,000 (+0.3%)
• Aged 45 to 54: 22,542,000 (-9.4%)
• Aged 55 to 64: 24,020,000 (+17.8%)
• Aged 65 to 74: 19,006,000 (+44.4%)
• Aged 75-plus: 13,967,000 (+15.4%)

 
Consumers 65+ are a force to be reckoned with:

Average household spending, 2017 (and % change since 2006; in 2017 dollars)

• Under age 25: $33,629 (-1.9%)
• Aged 25 to 34: $55,325 (-4.4%)
• Aged 35 to 44: $69,034 (-1.2%)
• Aged 45 to 54: $73,905 (+5.6%)
• Aged 55 to 64: $64,972 (+5.2%)
• Aged 65-plus: $49,542 (+16.2%)

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