The U.S. is ill-prepared to provide adequate housing for the growing ranks of older people, according to a report from Harvard University’s Joint Center for Housing Studies.
Over the next decade, the U.S. population older than 75 will increase by 45%, growing from 17 million to nearly 25 million, with many expected to struggle financially. In 2021, 11.2 million older adults were cost burdened, spending more than 30% of their income on housing.
The report notes that creative ideas are needed to house those living on fixed or dwindling incomes with insufficient savings. The remedies can include house or apartment sharing, accessory dwelling units, and cohousing communities where individual homes are arranged around a building with a communal space such as a dining room.
Without such arrangements and enough government help, many older adults will have to skip needed care or rely on family and friends for assistance.
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