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Income of the Elderly in 1963

Report Number P60-46

The median income of families with a head 65 years of age or over in 1963 was approximately $3,400, about $500 greater than in 1960, but only about half the median income of families with a head under 65 years of age. In terms of constant (1963) dollars, median income of families with an elderly head increased about $900 since 1950, while the increase for all families over the same period was approximately $2,000. Twenty-six percent of the families with an elderly head had incomes below $2,000, about three times the proportion of families with younger heads with that income. At the upper end of the income scale, only 10 percent of the older group–but 21 percent of the younger group–had incomes of $10,000 or more.

A Note on Language

Census statistics date back to 1790 and reflect the growth and change of the United States. Past census reports contain some terms that today’s readers may consider obsolete and inappropriate. As part of our goal to be open and transparent with the public, we are improving access to all Census Bureau original publications and statistics, which serve as a guide to the nation's history.

Page Last Revised - October 8, 2021
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