Census data shows 3 groups are falling behind financially in the US, according to data analyst. How to strengthen your finances if you're in 1 of them

Last year, she moved into a senior living home to address her housing issues.

And she isn't alone. Data from the U.S. Census Bureau's American Community Survey reveals certain groups of Americans are falling behind financially, and millions could be one unexpected bill away from losing their homes.

Here’s what the latest Census data reveals about who is slipping backward financially, and practical steps you can take now to protect your housing stability if you’re at risk.

Who's falling behind, and why

Seniors, renters and rural Americans are feeling the strain the most. They share a weakness: the inability to increase income when costs rise. Retirees receive fixed benefits, renters lack leverageable assets and rural workers hit wage ceilings.

Older Americans

Between 2020 and 2024, economic conditions for seniors deteriorated in more than 800 counties (1). Rising prices eliminated virtually all financial progress this age group had made.

The older adult poverty rate climbed to 15% in 2024, affecting over 9.2 million Americans aged 65 and older, according to a National Council on Aging (NCOA) analysis (2).

Data analyst Eric Pachman, who studied the Census numbers, found seniors gained ground slower than any other demographic (1). For every $100 in potential progress, they captured just $3.50 in real gains.

Social Security lifted 28.7 million people out of poverty in 2024, according to Census Bureau data (3). But for many older Americans, it is their only reliable source of income. That dependence makes their situation precarious: when housing, health care or food costs rise faster than benefits, there is little room to adjust.

Renters

Those without homeownership often face a double bind: rising housing costs without the cushion of home equity. While homeowners may offset higher costs through refinancing, appreciation or borrowing against their property, renters typically rely solely on wage income, which has not kept pace with rent growth in many areas.

Census data shows rental costs jumped in one-fifth of U.S. counties during the 2020-2024 period, compared to 2015-2019 (1). Affordable units vanished from the market at the same time expensive alternatives multiplied.

Pachman noted that renters, on average, earn less than homeowners and are more likely to work in lower-wage sectors. As new housing inventory comes online, much of it is priced at the higher end of the market, beyond what many renter households can afford (1).

Rural residents

Even when wages rise in rural counties, they often start from a lower baseline. Pachman found that many rural households hover just above the federal poverty line, meaning even small disruptions, like a medical bill or car repair, can push them into financial hardship (1).

Even when rural incomes rise with inflation, Pachman noted, these families remain dangerously close to the poverty threshold for a household of four (1).

Immediate steps to strengthen your financial position

If you see yourself reflected in these trends, the key is acting before a crisis forces your hand. Small adjustments made early can preserve options later.

Many seniors leave money on the table. Nearly half of eligible older adults are not enrolled in programs like Medicare Savings Programs or Supplemental Nutrition Assistance that can lower monthly costs, according to the NCOA (4). Reviewing benefit eligibility annually can free up cash flow without increasing income.

Housing is often the largest fixed expense. Exploring downsizing, shared housing or senior-specific communities before financial strain becomes urgent can prevent forced moves later.