May 28, 2002
Households headed by someone 75 or older spent a higher share of their expenditures on housing than any other age group in 1999.
The 75-and-older group spent 35.9 percent of expenditures on housing, compared with 32.6 percent for all households. The 25-to-34 age group allocated the second largest share of expenditures to housing—34.6 percent.
Those under age 25 allocated the smallest share for housing, at 30.3 percent of annual expenditures. Households headed by a person aged 55 to 64 spent 30.7 percent of their budget on housing.
Bureau of Labor Statistics, U.S. Department of Labor, The Economics Daily, Elderly spend greatest share on housing on the Internet at http://www.bls.gov/opub/ted/2002/may/wk4/art01.htm (visited December 01, 2015).
Fifty years of looking at changes in peoples lives
Longitudinal surveys help us understand long-term changes, such as how events that happened when a person was in high school affect labor market success as an adult.