Free and Clear

Among the nation's 74 million homeowners, the percentage who own their home free and clear rises with age to the majority in the 65-to-74 age group. Nevertheless, a large proportion of older homeowners face mortgage payments well into their golden years.

Percentage of homeowners without a mortgage

Total homeowners: 34%

Under age 35: 13%

Aged 35 to 44: 12%

Aged 45 to 54: 20%

Aged 55 to 59: 30%

Aged 60 to 64: 39%

Aged 65 to 74: 55%

Aged 75 or older: 79%

Source: Census Bureau, 2011 American Community Survey