Golden Years

Category:

Description

WHO ARE WE?

Independent, active seniors nearing the end of their careers or already in retirement best describes Golden Years residents. This market is primarily singles living alone or empty nesters. Those still active in the labor force are employed in professional occupations; however, these consumers are actively pursuing a variety of leisure interests—travel, sports, dining out, museums, and concerts. They are involved, focused on physical fitness, and enjoying their lives. This market is smaller, but growing, and financially secure.

 

OUR NEIGHBORHOOD

• This older market has a median age of 52 years and a disproportionate share (nearly 32%) of residents aged 65 years or older.

• Single-person households (over 40%) and married-couple families with no children (one-third) dominate these neighborhoods; average household size is low at 2.06 (Index 80).

• Most of the housing was built after 1970; approximately 43% of householders live in single-family homes and 43% in multiunit dwellings.

• These neighborhoods are found in large metropolitan areas, outside central cities, scattered across the US.

 

SOCIOECONOMIC TRAITS

• Golden Years residents are well educated—22% have graduate or professional degrees, 28% have bachelor’s degrees, and 25% have some college credits.

• Unemployment is low at 4% (Index 74), but so is labor force participation at 56% (Index 89), due to residents reaching retirement.

• Median household income is higher in this market, more than $71,000. Although wages still provide income to nearly 2 out of 3 households, earned income is available from investments (Index 171), Social Security benefits (Index 146), and retirement income (Index 144).

• These consumers are well connected: Internet access is used for everything from shopping or paying bills to monitoring investments and entertainment.

• They are generous supporters of the arts and charitable organizations.

• They keep their landlines and view cell phones more as a convenience.

Additional information

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Average Household Size

Median Age

Median Household Income

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