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    Senior Income Statistics

    Median Senior Female Income, 2003: $11,845

    Median Senior Female Income, 2004: $12,080

    Median Senior Male Income, 2003: $20,363

    Median Senior Male Income, 2004: $21,102

    Median Senior's Income, 2003: $14,664

    Median Senior's Income, 2004: $15,193

    Mean Senior's Income, 2003: $23,198

    Mean Senior's Income, 2004: $23,926

    Mean Income

    • The mean income of a senior individual (age 65 or older) in the United States in 2004 was $23,926 , an increase from the 2003 average of $23,198 . Mean income for senior w omen was $17,228 in 2004, up from $16,818 in 2001. Mean income for senior men was $32,661 in 2004, an increase from the $31,625 in 2003.

    Median Income

    • The median income of a senior individual in 2004 was $21,102 for males and $12,080 for females with an overall median income of $15,193. In 2003, seniors reported a median income of $14,644 with women reporting an $11,845 median and men reporting a $20,363 median.

    Income Sources

    • For persons age 65 or over in calendar year 2004, as shown in the chart, Population 65 or Over Receiving OASI Benefits , 92 percent were receiving benefits. Retired workers account for the largest category of beneficiaries over age 65.

    • In 2004, Social Security benefits comprised 39 percent of the aggregate share of all income to individuals and married couples 65 and over. Other sources of income include assets (12 percent), earnings (26 percent), and pensions (19 percent) both Government and private.

    • As shown in the chart, Percent of Beneficiary Income from Social Security Benefits , while many of the Nation's beneficiary individuals and married couples aged 65 and older in 2004 have income from other sources, a portion of the beneficiary population relies heavily on Social Security benefits.
    • Social Security benefits comprise 90 to 100 percent of total income for one-third of the elderly beneficiaries; and for almost two-thirds of the elderly beneficiaries, it is their major income source (50 – 100 percent of their income).

    Source: U .S. Census Bureau, Housing and Household Economic Statistics Division (Last Revised: January 13, 2006), Estimates of Resident Population (March 2004), Current Population Survey, (March 2004 ); Social Security Administration, Master Beneficiary Record.