Though they make up just a fifth of the country, Baby Boomers hold over half of its wealth and are redefining everything from retirement to grandparenting as their massive generation moves fully into its senior years.
Key Takeaways
- Baby Boomers numbered approximately 73 million in the United States as of 2020, comprising about 21% of the total U.S. population
- The Baby Boomer generation spans birth years from 1946 to 1964, with the oldest turning 79 in 2025 and the youngest turning 61
- In 2023, Baby Boomers accounted for 20.6% of the U.S. population, down from 23.2% in 2010 due to aging and mortality
- Baby Boomers' median household income reached $78,500 in 2022, 25% higher than Silent Generation at similar age
- Homeownership among Baby Boomers stands at 81% in 2023, compared to 65% for Millennials
- Baby Boomers hold 51.8% of U.S. household wealth as of Q3 2023, totaling $78.1 trillion
- 65% of Baby Boomers aged 55-64 have employer-sponsored health insurance, dropping to 20% at 75+
- Chronic disease prevalence among Baby Boomers: 85% have at least one, hypertension leading at 58% in 2022
- Obesity rates for Baby Boomers stand at 42% in 2023, higher than 38% for prior generation at same age
- Marriage rates: 67% of Baby Boomers were married in 2023, highest among generations
- Divorce rates for Baby Boomers peaked at 25% for those over 50 in 2022, "gray divorce" trend
- 85% of Baby Boomers value family time most, spending average 15 hours weekly with relatives
- Voter turnout for Baby Boomers was 76% in 2020 election, highest of any group
- 58% of Baby Boomers identify as conservative in 2023 Gallup polling
- Political donations: Baby Boomers contributed 52% of 2022 midterm funds, average $250/donor
Baby Boomers are a huge and influential generation now reaching retirement age.
Demographics
- Baby Boomers numbered approximately 73 million in the United States as of 2020, comprising about 21% of the total U.S. population
- The Baby Boomer generation spans birth years from 1946 to 1964, with the oldest turning 79 in 2025 and the youngest turning 61
- In 2023, Baby Boomers accounted for 20.6% of the U.S. population, down from 23.2% in 2010 due to aging and mortality
- Women make up 51.3% of Baby Boomers in the U.S., slightly higher than the overall population gender ratio
- Baby Boomers are the largest living generation in the U.S. as of 2022, surpassing Millennials by about 2 million individuals
- By 2030, all Baby Boomers will be at least 65 years old, marking the peak of the aging population bulge
- In 2021, 28.5% of Baby Boomers lived in the South region of the U.S., the highest regional concentration
- Baby Boomers have a racial composition of 72% non-Hispanic White, 12% Hispanic, 9% Black, and 5% Asian as of 2019
- The median age of Baby Boomers in 2023 was 69 years old, with significant variation by state from 67 in Alaska to 71 in Maine
- Baby Boomers represent 48% of the U.S. voting-age population over 65, driving senior voter turnout
- As of 2022, there were 9.2 million Baby Boomer veterans in the U.S., accounting for 41% of all living veterans
- Baby Boomers in urban areas comprise 55% of their total population, compared to 28% in rural areas as of 2020
- The Baby Boomer fertility rate peaked at 3.6 children per woman in 1957, contributing to the post-WWII boom
- In 2023, 15.4 million Baby Boomers lived alone, representing 29% of all solo-living adults in the U.S.
- Baby Boomers hold 52% of U.S. households with homeownership rates above 78% nationally in 2022
- Foreign-born Baby Boomers number 8.7 million, or 12% of the cohort, primarily from Latin America and Asia as of 2019
- Baby Boomers in the U.S. workforce numbered 10.5 million in 2023, or 24% of all employed seniors aged 65+
- The generation's peak population year was 1999 with 78.8 million, declining to 72.6 million by 2020 due to deaths
- Baby Boomers comprise 35% of the U.S. population in Florida, the highest state concentration in 2022
- Educational attainment among Baby Boomers shows 38% with a bachelor's degree or higher as of 2021
- Baby Boomers married at a median age of 22 for women and 25 for men in the 1960s, lower than later generations
- In 2020, 22% of Baby Boomers were immigrants, up from 10% in 1980, reflecting later-life migration
- Baby Boomers represent 60% of U.S. grandparents, with 50 million in grandparent roles as of 2022
- Household size for Baby Boomer families averaged 2.5 persons in 2019, smaller than their parents' generation
- Baby Boomers in poverty numbered 3.9 million in 2022, a rate of 8.7% compared to 10.5% for all adults
- The cohort's life expectancy at birth averaged 70 years for men and 77 for women born 1946-1964
- Baby Boomers dominate nursing home residency, with 70% of residents aged 65-84 in 2021
- Religiously, 65% of Baby Boomers identify as Christian in 2023, down from 80% in 2007
- Baby Boomers' geographic mobility rate was 8.2% annually in 2019, lower than younger cohorts
- In 2022, 41% of Baby Boomers had at least one child aged 18-34 still dependent
Demographics Interpretation
Their immense demographic weight is finally starting to tip the national scale toward senior concerns, as this colossal generation, still stubbornly holding the "largest" title for now, marches en masse into retirement, grandparenthood, and political dominance, leaving a housing market, workforce, and social safety net nervously bracing for the full impact of their unprecedented, seventy-three-million-person encore.
Economic/Financial
- Baby Boomers' median household income reached $78,500 in 2022, 25% higher than Silent Generation at similar age
- Homeownership among Baby Boomers stands at 81% in 2023, compared to 65% for Millennials
- Baby Boomers hold 51.8% of U.S. household wealth as of Q3 2023, totaling $78.1 trillion
- Average retirement savings for Baby Boomers is $232,710 per household in 2023, varying by income quartile
- 56% of Baby Boomers have less than $100,000 saved for retirement as of 2022, per Vanguard data
- Baby Boomers' net worth median is $410,000 in 2022, three times that of Gen X at the same age
- Debt levels for Baby Boomers averaged $97,000 per household in 2023, primarily mortgages and credit
- 28% of Baby Boomers carry credit card debt averaging $8,450 in 2023, higher than expected for retirees
- Baby Boomers own 70% of U.S. corporate stock wealth, valued at $35 trillion in 2023
- Social Security benefits for Baby Boomers averaged $1,827 monthly in 2023 for retirees
- 45% of Baby Boomers plan to work past 70 due to financial needs, per 2023 AARP survey
- Median net worth for Baby Boomer households aged 65-74 is $410,000, peaking before declining
- Baby Boomers' student loan debt totals $94 billion collectively in 2023, with 1.6 million borrowers
- Financial literacy scores for Baby Boomers average 68% correct on standard tests in 2022
- 62% of Baby Boomers own their homes free and clear of mortgages as of 2023
- Average 401(k) balance for Baby Boomers is $232,710 in 2023, per Vanguard's How America Saves report
- Baby Boomers' spending on healthcare averages $12,400 annually per person over 65 in 2022
- Inheritance expectations: 67% of Baby Boomers anticipate receiving under $50,000, per 2023 Cerulli
- Baby Boomers hold 28% of U.S. small business ownership, with 4.5 million firms in 2022
- Mortgage debt for Baby Boomer homeowners averages $150,000 in 2023 for those still paying
- 33% of Baby Boomers report living paycheck-to-paycheck in 2023, similar to younger generations
- Pension income covers 40% of Baby Boomer retirees' expenses, averaging $18,000 yearly in 2022
- Baby Boomers' IRA balances average $193,000 for those with accounts in 2023
- Auto loan debt among Baby Boomers totals $120 billion in 2023, with average balance $20,500
- 52% of Baby Boomers have long-term care insurance, up from 28% in 2010, per 2023 data
- Real estate equity for Baby Boomers exceeds $15 trillion in 2023, 40% of national total
- Baby Boomers' gig economy participation is 15%, earning median $25/hour in 2022
- Cost-of-living adjustments have increased Social Security for Boomers by 8.7% since 2021
- Baby Boomers' charitable giving averages $1,200 per household annually in 2023
Economic/Financial Interpretation
The Baby Boomers' story is one of staggering collective wealth built on homes and stocks, yet also of profound individual fragility, where a gold-plated retirement is often just one medical bill away from being a myth.
Health and Wellness
- 65% of Baby Boomers aged 55-64 have employer-sponsored health insurance, dropping to 20% at 75+
- Chronic disease prevalence among Baby Boomers: 85% have at least one, hypertension leading at 58% in 2022
- Obesity rates for Baby Boomers stand at 42% in 2023, higher than 38% for prior generation at same age
- 27% of Baby Boomers report diagnosed diabetes, with 50% prediabetes risk in 2022 NHIS data
- Mental health: 15% of Baby Boomers experienced depression symptoms in past year per 2023 survey
- Life expectancy for Baby Boomers averages 78.5 years, down 1.5 years from Silent Generation due to opioids
- Cancer incidence: Baby Boomers have 20% higher rates than prior generations for colorectal and lung
- 72% of Baby Boomers aged 65+ received flu vaccine in 2022-2023 season, highest vaccination rate
- Arthritis affects 49.6% of Baby Boomers over 65, limiting mobility for 23% daily
- Hearing loss prevalence is 30% among Baby Boomers aged 60-69, rising to 60% at 70-79
- Sleep issues: 56% of Baby Boomers report insufficient sleep, averaging 6.1 hours nightly in 2023
- 18% of Baby Boomers have fallen in past year, with 10% resulting in injury per 2022 CDC data
- Dementia risk: 13% of Baby Boomers over 65 diagnosed, projected to double by 2050
- Physical activity: Only 28.5% of Baby Boomers meet aerobic guidelines weekly in 2022 BRFSS
- Heart disease mortality for Baby Boomers is 162 per 100,000, lower than peaks but still leading cause
- Vision impairment affects 11% of Baby Boomers aged 65+, cataracts most common at 18%
- 40% of Baby Boomers use five or more prescription drugs daily, polypharmacy risk high
- COVID-19 vaccination: 93% of Baby Boomers received at least one dose by 2023
- Oral health: 36% of Baby Boomers have untreated dental caries, per 2022 NHANES
- Lung disease: 12% of Baby Boomers have COPD, linked to smoking rates of 40% in youth
- 62% of Baby Boomers report good to excellent health self-assessment in 2023 Gallup poll
- Osteoporosis diagnosed in 10.2% of Baby Boomer women over 65, hip fractures at 250k/year
- Substance use: Opioid misuse among Baby Boomers rose 35% from 2015-2020
- Telehealth usage by Baby Boomers increased to 37% post-pandemic in 2023
- 25% of Baby Boomers have chronic kidney disease stage 3+, per 2022 NKF data
- Wellness spending: Baby Boomers allocate 12% of income to health, $5,500 average yearly
- 55% of Baby Boomers engage in regular exercise, preferring walking at 70% participation
- Suicide rate for Baby Boomers aged 75+ is 22 per 100,000, highest among age groups in 2022
Health and Wellness Interpretation
The Baby Boomers, armed with the highest vaccination rates and a stubborn self-assessment of good health, are nonetheless navigating a minefield of chronic conditions, polypharmacy, and lifestyle-linked diseases that suggest they have diligently planned for retirement but perhaps forgot to include their own bodies in the blueprint.
Political and Civic Engagement
- Voter turnout for Baby Boomers was 76% in 2020 election, highest of any group
- 58% of Baby Boomers identify as conservative in 2023 Gallup polling
- Political donations: Baby Boomers contributed 52% of 2022 midterm funds, average $250/donor
- 65% of Baby Boomers believe in traditional marriage definition per 2023 Pew survey
- Jury service participation: Baby Boomers comprise 45% of summoned jurors aged 65+ exemptions vary
- 72% of Baby Boomers follow politics closely daily in 2023, highest engagement rate
- Party affiliation: 48% Republican, 43% Democrat among Baby Boomers in 2023
- Protest participation: Only 12% joined demonstrations in 2020, preferring voting
- 80% of Baby Boomers support Social Security expansion in 2023 polls
- Local government trust: 55% of Baby Boomers trust city councils more than federal
- 62% of Baby Boomers voted in 2022 midterms, turnout 10% above national average
- Ideology: 37% moderate, 29% conservative, 22% liberal self-identification in 2023
- Letter-writing to officials: 18% contacted representatives yearly, highest generation
- 75% support Medicare for All variants but oppose cuts to private insurance, 2023
- Civic group membership: 28% in PTA, unions, or fraternal orders actively in 2022
- 68% of Baby Boomers prioritize national debt reduction in policy preferences 2023
- Gun control views: 55% favor stricter laws, up from 40% in 1990s among Boomers
- Environmental concern: 60% see climate change as major threat, favoring conservation
- 82% participated in 2016 election, influencing swing states heavily
- Tax policy: 70% oppose raising taxes on those under $100k income in 2023 surveys
- 45% of Baby Boomers attended town halls or public meetings yearly in 2022
Political and Civic Engagement Interpretation
Though they’ll show up dutifully for jury duty and vote with unshakable civic duty, Baby Boomers are the generation funding, favoring, and fiercely guarding a traditional American system that is increasingly wary of radical change, except when it comes to expanding their own benefits.
Social and Cultural
- Marriage rates: 67% of Baby Boomers were married in 2023, highest among generations
- Divorce rates for Baby Boomers peaked at 25% for those over 50 in 2022, "gray divorce" trend
- 85% of Baby Boomers value family time most, spending average 15 hours weekly with relatives
- Social media use: 69% of Baby Boomers are on Facebook daily in 2023, YouTube at 49%
- Volunteerism: 24% of Baby Boomers volunteer regularly, averaging 50 hours yearly in 2022
- 73% of Baby Boomers prefer in-person social interactions over digital, per 2023 survey
- Grandparenting: 80% of Baby Boomers provide regular childcare, 20% full-time in 2023
- Cultural participation: 52% attended live music events pre-pandemic, now 40% in 2023
- 61% of Baby Boomers report high life satisfaction, linked to stable relationships
- Pet ownership: 51% of Baby Boomers have pets, dogs at 37%, companions for 65% lonely
- Book reading: 78% of Baby Boomers read at least one book yearly, physical books preferred 82%
- 44% of Baby Boomers live in multigenerational households, up 10% since 2010
- Friendship networks: Baby Boomers average 4 close friends, down from 6 in 1985
- Holiday spending on gifts: Baby Boomers average $850 per household in 2023
- 92% of Baby Boomers celebrate Christmas, with 75% hosting family gatherings
- Travel socially: 60% took leisure trips in 2023, mostly domestic with family
- 35% of Baby Boomers use dating apps post-divorce, Bumble and OurTime popular
- Community involvement: 30% belong to clubs or organizations, down from 50% in 1970s
- Media consumption: 65% watch TV 3+ hours daily, news and dramas favored
- 48% of Baby Boomers garden as hobby, spending $500 average yearly
- Religious service attendance: 36% weekly for Baby Boomers in 2023, highest generation
- 70% of Baby Boomers prioritize work-life balance retrospectively, influencing family norms
Social and Cultural Interpretation
The Baby Boomer generation paints a portrait of traditionalists who, after navigating their own marital complexities, have doubled down on family and community, now finding their golden years joyfully entangled with grandchildren, gardens, and a surprisingly robust Facebook habit.
Sources & References
- Reference 1PEWRESEARCHpewresearch.orgVisit source
- Reference 2CENSUScensus.govVisit source
- Reference 3SSAssa.govVisit source
- Reference 4VAva.govVisit source
- Reference 5CDCcdc.govVisit source
- Reference 6MIGRATIONPOLICYmigrationpolicy.orgVisit source
- Reference 7BLSbls.govVisit source
- Reference 8NCESnces.ed.govVisit source
- Reference 9AARPaarp.orgVisit source
- Reference 10FEDERALRESERVEfederalreserve.govVisit source
- Reference 11TRANSAMERICAtransamerica.comVisit source
- Reference 12PRESSROOMpressroom.vanguard.comVisit source
- Reference 13EDUCATIONDATAeducationdata.orgVisit source
- Reference 14FINRAfinra.orgVisit source
- Reference 15REDFINredfin.comVisit source
- Reference 16INSTITUTIONALinstitutional.vanguard.comVisit source
- Reference 17CMScms.govVisit source
- Reference 18CERULLIcerulli.comVisit source
- Reference 19ADVOCACYadvocacy.sba.govVisit source
- Reference 20LENDINGCLUBlendingclub.comVisit source
- Reference 21ICIici.orgVisit source
- Reference 22EXPERIANexperian.comVisit source
- Reference 23LTCNEWSltcnews.comVisit source
- Reference 24CORELOGICcorelogic.comVisit source
- Reference 25URBANurban.orgVisit source
- Reference 26GIVINGUSAgivingusa.orgVisit source
- Reference 27KFFkff.orgVisit source
- Reference 28CANCERcancer.govVisit source
- Reference 29NIDCDnidcd.nih.govVisit source
- Reference 30ALZalz.orgVisit source
- Reference 31NEInei.nih.govVisit source
- Reference 32NEWSnews.gallup.comVisit source
- Reference 33BONESbones.nih.govVisit source
- Reference 34SAMHSAsamhsa.govVisit source
- Reference 35KIDNEYkidney.orgVisit source
- Reference 36BGSUbgsu.eduVisit source
- Reference 37NEAnea.govVisit source
- Reference 38IIIiii.orgVisit source
- Reference 39NRFnrf.comVisit source
- Reference 40AMERICANCOMMUNITIESamericancommunities.orgVisit source
- Reference 41NIELSENnielsen.comVisit source
- Reference 42NATIONALGARDENINGnationalgardening.orgVisit source
- Reference 43GALLUPgallup.comVisit source
- Reference 44OPENSECRETSopensecrets.orgVisit source
- Reference 45USCOURTSuscourts.govVisit source
- Reference 46AMERICANBARamericanbar.orgVisit source
- Reference 47TAXPOLICYCENTERtaxpolicycenter.orgVisit source