US Retirees Spend $22,079 on Housing, Taking 37% of Annual Budgets
Updated
Updated · AOL · Aug 2
US Retirees Spend $22,079 on Housing, Taking 37% of Annual Budgets
1 articles · Updated · AOL · Aug 2
Summary
$22,079 went to housing for the typical U.S. retiree in 2024, making shelter the largest expense in an average annual budget of $59,616, or about $5,000 a month.
Federal Reserve consumer expenditure data show housing alone absorbed nearly $1 of every $3 retirees spent, underscoring why housing costs are the main pressure point in retirement budgets.
$9,244 for transportation, $8,021 for food and $7,735 for healthcare were the next biggest categories; together they accounted for 42% of retiree spending.
Nearly 41% of Americans ages 65 to 79 still had a mortgage on their primary home in 2023, Harvard housing data showed, suggesting debt and insurance costs remain key constraints even after retirement.