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There is still a significant number of seniors that rely on incomes of less than 10-20k per year.Ĭan Seniors Afford to Buy a Smaller Property? However, roughly 12% of older households still rent and the average social security income is just over $20,000 a year, which is 50% less than the median income. It is safe to infer that seniors in Cornelius Single Family Homes have the financial capability to buy a property and this is supported by evidence that home ownership is high among senior households. The median income of a senior household is at $51,246 according to stats from Census Bureau. Rents have also increased by 2% annually, with the average rent at $1625. The average median sales price of a house is $276,000 while the price per square foot is $165.
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Trulia reports that the housing price trends in Cornelius show a 5% year-on-year rise. The Housing Market in Cornelius, North Carolina Sooner or later, most of these people will look to downsize and if that is something that’s on the agenda for your parents or loved ones, there is plenty of help available to find an appropriate home. America’s senior population has hit 50 million and in Cornelius, North Carolina, 10% of the population is comprised of mature adults. The Census Bureau estimates that nearly 10,000 baby boomers turn 65 every day. Housing Options for Seniors in Cornelius Who Are Downsizing: Local Scroll – Area Entertainment Guide.