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WASHINGTON – July 19, 2012 – A recent analysis of government data by the National Association of Home Builders (NAHB) finds that the geographic distribution of households headed by someone age 55 or older is fairly even across most of the country – no state has less than 30 percent of all households meeting this description.
In Florida – the No. 2 state for older adult head-of-households – 44 percent of households are headed by an adult at least 55-years old.
According to NAHB, however, more baby boomers will cross the 55-year age mark, and the percentage of older-adult households will continue to grow. NAHB’s long-term forecast indicates that the share of 55-plus households will increase yearly through 2019 until it account for nearly 45 percent of all U.S. households.
“As more baby boomers approach retirement and the average age of the U.S. population increases, many businesses – including home builders – are showing increased interest in designing products that appeal to customers 55 and older,” says Paul Emrath, NAHB’s vice president of survey and housing policy research. “This research shows that 55-plus developments should be possible in every state.”
• In the U.S., 43.9 million households are headed by someone 55 years old or higher, accounting for nearly 38 percent of all U.S. households.
• Among the 50 states and District of Columbia, the share of households ranges from 31 to 45 percent.
• West Virginia tops all states, with 45 percent of its households headed by someone 55 or older, followed by Florida at 44 percent, Hawaii and Maine (43 percent each) and Pennsylvania and Montana (42 percent each).
• Utah and Alaska are the only states where less than one-third of the households are 55+.
• For 97 percent of all 3,143 U.S. counties, the share of households age 55 or older is more than 30 percent.
• 44 U.S. counties have a 55-plus household share over 60 percent.
• Sumter County and Mineral County, Colo., have the highest percentage of 55-plus households at 77 percent.
NAHB 50+ Housing Council Chairman W. Don Whyte says the new baby boomers are “radically different” that the generations that precede them. “The customers are fitter, more computer savvy and plan to live an entirely different lifestyle from what they might have thought previously – or what we would have aimed at providing for them,” he says.
NAHB has posted its full analysis of the baby boomer households on its website.
© 2012 Florida Realtors®
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