Boomers Household Income, Household Expenses

AARP BULLETIN | on Thu, Jan 4, 6:00 AM

The most expensive part of boomers’ budgets was housing, which typically cost them $18,917. The survey found that 76 percent of boomers owned their homes, and 40 percent still were making mortgage payments[1]. Boomers typically paid $2,877 in mortgage interest and $2,481 in property taxes. The second largest expenditure was transportation at $9,762, much of that for car or truck payments ($3,864), gasoline and oil ($1,942), and vehicle insurance ($1,395). Boomers spent just $655 on public tra...

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