In Colorado, 19.75% of people ages 65 and older were still working in 2024, up from 18.89% in 2014. The share of employed seniors has increased in almost every state since 2014. This shift coincides with a growing senior population, rising from 679,572 in 2014 to 980,364 in 2024. Higher housing costs such as insurance, property taxes, and maintenance increase pressure on older homeowners. Continued employment can also keep housing inventory locked up, contributing to higher home prices. Social Security provides about half of retirees’ income, but it may not fully cover living expenses.
"In Colorado, 19.75% of seniors ages 65 and older were still in the workforce in 2024, a trend highlighted by a recent analysis of Census Bureau American Community Survey data by Realtor.com®. The share of seniors ages 65 and older still in the workforce has grown in almost every state since 2014."
"The share of seniors ages 65 and older in Colorado's workforce has seen a modest but notable increase over the past decade. In 2014, 18.89% of seniors were employed, rising to 19.75% by 2024, marking a 0.86 percentage point increase. This trend in Colorado mirrors a broader national shift where more older adults are choosing or needing to remain in the workforce."
"According to the 2024 Census Bureau American Community Survey, Colorado's senior population has also grown significantly. The total population aged 65 and older increased from 679,572 in 2014 to 980,364 in 2024. This combination of a larger senior population and a higher percentage remaining employed indicates a significant demographic and economic shift, with more older Coloradans navigating the complexities of work and retirement simultaneously."
"This growing share of older Americans remaining employed underscores two major issues currently impacting the housing market: the increasing pressure on older homeowners due to rising housing costs like insurance, property taxes, and maintenance, and how their continued employment keeps housing inventory locked up, contributing to higher home prices."
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