Spokane becoming major retirement community

By 2020, 20 percent of Spokane County residents will be age 60 to 79, up from 14 percent today.

via Home prices still falling from bubble.

The above estimate of 20 percent is for those aged 60 to 79. As of 2000, about 2.5% of the population was over the age of 80 and that too will likely grow. Let’s assume 3%, meaning that by 2020, 23% of the population will be age 60 or older.

Guessing: Transfer payments probably climb to about 23% to 25% of Spokane County income by 2020.  For more on that, see “Trend of transfer payments into Spokane County.”

As this shift occurs, there will be a smaller percent of residents available for working in industry, including manufacturing, research and development and service industries. This implies a further shift towards a Spokane County based primarily on health care and government (including education) and low wage recreation, leisure and food service industries – and less so on manufacturing, industry services, R&D and an innovation economy.

What percent of this shift in population is due to old people moving in versus younger people moving out?

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One Response to Spokane becoming major retirement community

  1. Pingback: Alcohol consumption by minors in Spokane County « Spokane Economic And Demographic Data

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