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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 2019, half of all individuals age 65 to 69 received less than $32,711 in yearly income, compared to the $23,581 received by people age 75 and older.

Table 3. Median annual income, by age

Age

Individuals, 2019

Households, 2019

Aged units, 2014

65+

$27,398

$47,357

$30,193

65-69

$32,711

 

$56,632

$40,013

70-74

$29,011

$34,704

75+

$23,581

$37,335

N/A

80+

N/A

N/A

$22,232

Income Differences by Marital Status

In 2019, half of all married couples age 65 and over received less than $74,695 in yearly income, compared to $26,946 for nonmarried persons.

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

Demographic unit

Married couples

Nonmarried persons

Nonmarried men

Nonmarried women

Households, 2019

$74,695

$26,946

$31,069 $24,079

Aged Units, 2014

$54,860

$19,656

$31,493

$24,768

Income Differences by Gender

In 2019, half of all men age 65 and over received less than $36,921 in yearly income, contrasted with $21,815 for women.

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

Gender

Individuals, 2019

Households, 2019

Men

$36,921

$33,515

Women

$21,815

$24,779

Total

$27,398

$47,357

Income Differences by Race and Ethnicity

In 2019, half of all Hispanics age 65 and older received less than $17,105 in yearly income, contrasted with $30,157 for whites.

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

Demographic group

Individuals, 2019

Households, 2019

White (Non-Hispanic)

$30,157

$49,558

African American

$20,265

$31,553

Hispanic

$17,105

$32,331

Total

$27,398

$47,357

 

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