Dear Friends,
Today the Office of the Budget Director’s Research Division released “The State of Older Adults in the District of Columbia: Getting to Know DC’s Older Adults.”
The State of Older Adults in the District of Columbia is a multi-part series that explores the demographic and economic characteristics of the District’s senior population, considers the range of publicly provided benefits available to senior adults in the District and examines how these programs help close the gap between seniors’ living expenses and their earnings and savings.
This first report examines the diverse backgrounds and experiences of the District’s 83,600 residents who are age 65 and older. Using data from the U.S. Census Bureau’s American Community Survey and other sources, it explores the demographic and economic characteristics of D.C.’s senior population. Its findings include:
Most D.C. seniors are female (59.3 percent), Black (62.5 percent), unmarried (58.6 percent), members of the Silent Generation (59.7 percent), live alone (74.1 percent), or are homeowners (65.5 percent).
There are significant income and wealth inequality among D.C. seniors. The lowest-earning 25 percent of seniors earn an average of $20,980 per year, compared with $323,020 among the highest-earning 25 percent of seniors.
Seniors who are older, female, Black, or single tend to be more financially vulnerable than their counterparts.
The next reports in this series will consider the range of publicly provided benefits available to senior adults in the District and examine how these programs help close the gap between seniors’ living expenses and their earnings and savings. All of the reports can be found on our website at https://www.dccouncilbudget.com/olderadultsindc.
As always, my team and I are available to answer any questions you may have.
Thank you for your assistance and support,
Jen Budoff