By CultureBanx Team
- Americans aged ages 65 and older increased from 17% to 20%
- The median age of Black people in 2021 was 33 years, five years younger than the U.S. population’s median age
The 21st-century American household is significantly different from what it was a few decades ago, from 4.6 persons to 2.65 persons. An aging U.S. population has also significantly influenced the household composition shift, with the average African American in their mid-30s. Between 2010 and 2017, the share of adults ages 45 to 64 declined from 35% to 33%, while the share ages 65 and older increased from 17% to 20%. This change in the share of U.S. households by income and age can have several implications for the future of the African American community.
Why This Matters: While economic prosperity brings numerous benefits, it can also influence internal social dynamics across age and income. The median age of Black people in 2021 was 33 years, five years younger than the U.S. population’s median age of 38 years old. Roughly 30% of the entire Black population was below the age of 20 while 12% were 65 or older.
The African American community has a unique historical context that significantly impacts its household composition. A crucial factor that has shaped African American households is the persistent wealth gap between Black and white households. In 2019, the median white household held $188,200 in wealth, 7.8 times that of the typical Black household at $24,100, according to Pew Research. Perhaps this is also why recent years have shown signs of a reversal in the trend of smaller households, with an actual increase in average household size.
What’s Next: As the face of American households continues to evolve, it is crucial to understand and address the unique challenges faced by the African American community. By fostering economic opportunities and addressing wealth gaps, we can shape a future where African American households thrive and prosper.
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