INFOGRAPHIC: Housing America's Older Adults

Housing America's OLDER ADULTS Data from a new report released by the Harvard Joint Center for Housing Studies with support from the AARP Foundation AMERICA IS AGING By 2030, the U.S. population aged 50 or over will increase to 132 million. In this time, the number of adults aged 65-74 will nearly double from 21.7 million in 2010 to 38.6 million in 2030. 132 million 1 in 5 1 in 8 In the next 20 years, the population aged 50+ will increase from 109 million to 132 million. people will be 65 and over in 2030. people will be 75 and over in 2040. THE HIGH COST OF HOUSING The typical homeowner over 65 can afford in-home assistance for nearly 9 years or 6.5 years of assisted living. Owner: 6-9 Years In 2012, one third of adults aged 50 and over (nearly 20 million households) paid more than 30% of their income for housing, including nearly 9.6 million who paid more than 50% of their income for housing. The typical renter over 65, however, can only afford 2 months of these supports. Renter: 2 Months THE HOUSING ASSISTANCE GAP 3.9 million 1.4 million The number of low-income older renters eligible for housing assistance in 2011. Due to a supply gap, the number of low-income older renters who actually received housing assistance in 2011. Vs. HIGH HOUSING COSTS FORCE LOW-INCOME OLDER ADULTS TO CUT BACK ON OTHER THINGS 101 FOOD HEALTH CARE SAVINGS Households spending more than half their income on housing spend over 40% less on food than those living in housing they can afford. Severely cost-burdened households aged 50-64 spend 70% less on health care than those living in housing they can afford. Those aged 50-64 who spend more than half their income on housing spend over 70% less on retirement savings. 61% of older adults limit their driving to certain hours of the day, and 21% say they frequently or occasionally miss out on activities they like to do, because of driving limitations. www.jchs.harvard.edu www.aarpfoundation.org