According to a recent article in Forbes, the overall U.S. population growth has been 12% since 2000, but the growth of its senior (over age 65) population has been 29%.
Roughly 14% of Americans are now above age 65, a rate comparable to that in Canada.
Forbes checked 52 U.S. cities with populations of 1 million or more, and found that the ones “going gray” the fastest are Atlanta, Georgia (with a 73.5% increase in seniors in 2000-2013), Raleigh, North Carolina (96% increase) and Austin, Texas (91.7% increase).
The impacts are significant. In the U.S., households over age 65 have a net worth of 2.5 times the national average. This can have marked effects on a city’s economy, the types of jobs available over time, the quality of medical care and so on.
I expect that, in Canada, the “fastest-graying” cities include Victoria, Vancouver, Toronto and Montreal. “Younger” cities may include Calgary and Edmonton, given the climate and the likely ages of people drawn to Alberta’s oil-based economy.
This ad ran in the Richmond Review on November 28, 2014.