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Income Received By Different Groups

For a clearer picture of the economic status of today’s older adults, it is helpful to look at breakdowns of statistics by age, marital status, gender, and race, in addition to looking at overall income figures.

Income Differences by Age

In 2015, half of all individuals age 65 to 69 received less than $27,700 in yearly income, compared to the $20,230 received by people age 75 and older.

Table 3. Median annual income, by age

Age

Individuals, 2015

Households, 2015

Aged units, 2014

65+

$22,887

$38,515

$30,193

65-69

$27,700

 

$47,432

$40,013

70-74

$23,486

$34,704

75+

$20,230

$30,635

N/A

80+

N/A

N/A

$22,232

Income Differences by Marital Status

In 2015, half of all married couples age 65 and over received less than $60,394 in yearly income, compared to $23,398 for nonmarried persons.

Table 4. Median annual income, by marital status, 65+

Demographic unit

Married couples

Nonmarried persons

Nonmarried men

Nonmarried women

Households, 2015

$60,394

$23,398

$26,151 $21,273

Aged Units, 2014

$54,860

$19,656

$31,493

$24,768

Income Differences by Gender

In 2015, half of all men age 65 and over received less than $31,372 in yearly income, contrasted with $18,250 for women.

Table 5. Median annual income, by gender, 65+

Gender

Individuals, 2015

Households, 2015

Men

$31,372

$26,151

Women

$18,250

$21,273

Total

$22,887

$38,515

Income Differences by Race and Ethnicity

In 2015, half of all Hispanics age 65 and older received less than $14,901 in yearly income, contrasted with $24,638 for whites.

Table 6. Median annual income, by race or ethnicity, 65+

Demographic group

Individuals, 2015

Households, 2015

White (Non-Hispanic)

$24,638

$40,950

African American

$16,988

$26,185

Hispanic

$14,901

$29,697

Total

$22,887

$38,515

 

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