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Know Your Audience: The 55+ Demographic is a Spending Powerhouse

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From The Federal Savings Bank

In 2017, homeowners ages 55 and older were the source of half of all homeowner improvement spending. In the last 20 years, the amount they’ve spent on total real improvement expenditures has risen more than 150%, amounting to $117 billion dollars.*

Total Real Improvement Expenditures Percent Change, 1997-2017

With older Americans desiring to stay in their homes and age in place, they’re spending a lot of money to make renovations and improvements. More than 2.1 million homeowners in 2017 reported that they had one or more projects that would improve accessibility for the elderly or disabled.*

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*All statistics provided by the Joint Center for Housing Studies of Harvard University report Improving America’s Housing 2019.

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