The share of Americans aged 65 and older who remain in the workforce has increased since 2014 across nearly every state. In Missouri, 17.96% of seniors were in or returned to the workforce in 2024, up from 15.77% in 2014. Rising housing-related expenses such as insurance, property taxes, and maintenance are creating pressure on older homeowners. Many people past traditional retirement age are working less for fulfillment and more to afford staying in their homes. When older residents delay retirement, housing inventory stays locked up, home prices remain elevated, and turnover that could help younger buyers becomes less likely.
"The dream of a leisurely retirement is becoming increasingly elusive for many Americans, particularly as housing costs continue their upward climb. According to an analysis of Census Bureau American Community Survey data by Realtor.com®, the share of seniors aged 65 and older who remain in the workforce has grown since 2014 in nearly every State."
"This national shift is particularly evident in Missouri, where the economic landscape is forcing many older residents to delay their retirement plans. Data shows that 17.96% of Missouri seniors remained in or returned to the workforce in 2024, reflecting a growing need for supplemental income among the elderly population."
"When would-be retirees are forced to stay on the clock to afford these expenses, they effectively lock up housing inventory, which keeps home prices elevated and prevents a natural turnover that would benefit younger buyers."
"A Realtor.com® analysis of Missouri labor data reveals a steady climb in employment among those who have reached traditional retirement age. In 2014, the senior employment rate stood at 15.77%, but by 2024, that figure rose to 17.96%, marking a 2.19 point increase over the decade."
Read at SFGATE
Unable to calculate read time
Collection
[
|
...
]