A Third of Older Adults Burdened by Housing Costs

Existing Housing Stock Will Not
Meet Escalating Need for Older Adults

Housing Americas Older Adults 2014In a newly release report, “Housing Older Adults,” Harvard’s Joint Center of Housing Studies warned that

  • High housing costs could force millions of older adults to sacrifice spending on necessities like food and health care.
  • The existing housing inventory in the U.S. is insufficient to meet the growing need for affordable and accessible housing for adults 50 and over.

Among the report’s findings:

  • A third of adults ages 50 and over are already housing cost burdened, paying more than 30% of their income for housing.
  • Older adults who are severely housing cost burdened spend 43 percent less of their income on food and 59% less on health care than their stably housed counterparts.

Click here for the full report.