Wednesday, January 13, 2016
Posted by: Pam Heidel
Segmenting the nations households and homeowners by age group is a critical step for companies involved in the home improvement industry so they can provide products and services to meet the different needs of these groups.
In a recently published article, NAHB (National Association of Home Builders) examines how many households in the US are headed by someone age 55+. Looking at data from the U.S. Census Bureau's American Community Survey data they found that about 42% of all households are headed by someone age 55+.
Other key highlights include:
In every state, the 55+ category accounts for over 34% of all households
In every county, 55+ category accounts for over 20% of all households
in 99% of counties, 55+ accounts for over 30% of all households
At the high end, 112 counties have 55+ household share of over 60%
In the US there are 13 "top 55+" counties, where 55+ not only accounts for over 60% of all households, but where there are more than 20,000 55+ households in total. Ten of these are in Florida, two in Arizona, and one in Massachusetts
The analysis NAHB provides can help identify where the largest concentration of 55+ live. You can download NAHB's article, data by state and county on NAHB's website.