These findings paint a startling picture!
1. Households headed by someone in their 80s will DOUBLE by 2040 – GO, LONGEVITY! 2. However, the number of older households with “cost burdens” - older adults paying 30% or more of their income on housing - has been rising for more than 2 decades, which means: 3. “Only small shares of single adults over 75 can afford either Assisted Living or In-Home Care”
The high costs of Housing and Health Care have create a “dual burden” on our nation’s older adults. Even middle-income individuals struggle to cover the combined costs of housing and care.
What to do? Educate, Collaborate, Innovate!
Here’s an example from Massachusetts Secretary of Elder Affairs Elizabeth Chen: Resident Services Coordinators at affordable senior housing properties - These coordinators offer on-site support, health education, wellness programs, adult learning activities, and care coordination to reduce emergency room visits and hospital admissions.
MORE DATA / MORE SOLUTIONS: You can take a deep dive into the report on the Joint Center for Housing Studies website -- and don’t forget to scroll the page for more key facts and findings, including interactive data maps!
What’s your vision for innovative solutions to the rising costs of Housing & Health Care for seniors? Please Share! ✍🏽
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