Between 1989 and 2022, the share of homeowners aged 65–79 with a mortgage on their primary home
increased from 24 to 41 percent. The median mortgage debt shot up over 400 percent, from $21,000 in 1989
to $110,000.
• Among homeowners age 80 and over, the share with mortgages grew from 3 percent to 31 percent, with
median mortgage debt increasing over 750 percent, from $9,000 to $79,000.