Senior Spotlight: Housing Affordability Issues For Older Adults

Welcome back to Bobbi Decker’s Senior Spotlight! In our pursuit of making aging a little more fun and the decisions associated with it a whole lot easier – we are talking about housing & affordability. The issue of affordable housing is not limited to new college graduates and millennials, it’s a real and growing concern for older adults who face increasing needs amidst a decreasing income. By the year 2030, 1 in every 5 Americans will be over age 65. On account of this reality, the AARP Foundation has made a commitment to developing strategies to address senior housing challenges of accessibility & affordability.

See the following infographic below, based on a collaboration between the AARP Foundation and the Harvard Joint Center For Housing. Note that a growing aging population amidst a housing market with rising costs creates distinct gaps when it comes to the costs of food, healthcare and savings. Just like in any budget… there is only so much to go around!

Housing AOA

You can read the full report, Projections and Implications for Housing a Growing Population: Older Households 2015-2035, HERE.

Upon a review of the documentation myself, I think the best advice for seniors comes from the Executive Summary of the report:

“The focus for these households should be on making informed choices about potential living situations and locations, investments in home modifications, and care—before physical or financial needs become pressing.”

There may be no better time to consider this advice then now – especially given rising rates, increasing home values and record equity. If you are thinking of selling, the return on your investment may provide a more stable, long-term plan for personal care, savings and wiggle room for all that stuff you love to do too!

If you are considering a refinance, let me know if you would like to speak to a lender about your options to pull cash-out for home modifications or long-awaited repairs and improvements.

If you or an older adult you know is already struggling and in need of some resources for financial assistance, consider the resource As a free, confidential resource created by the National Council On Aging, this site provides a 15 minute questionnaire to see which of the nation’s 2,500 benefit programs may be able to help. This resource has helped over 6 million people discover nearly $25 billion in benefits!

Concerns about being able to afford the needs that arise with age are NOT easy – but they are so important. Recognizing the issue is the first step in making an informed decision that is best for you – let me know if you have any questions. Please share this data and resource above with any aging loved ones in your life!

Resources Used: AARP, Huffington Post, Joint Center For Housing Studies At Harvard University & more…

Improving Access to Safe and Affordable Housing
Projections and Implications for Housing a Growing Population:
Older Households 2015-2035

Infographic: Housing America’s Older Adults

How to Find Financial Assistance for Elderly Parents

All my best,


Bobbi Decker, SRES®, CIPS®
Broker Associate, Today Sotheby’s International Realty
Bobbi Decker & Associates
BRE 00607999
p. 650.346.5352
Bobbi Decker & Associates fully supports the principles of the Fair Housing Act and the Equal Opportunity Act. For more information, please visit:

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