Housing » Summary
Why It's Important
The majority of Boomers say they plan to stay in their homes and in their community.
While the availability of accessible housing is essential, affordable housing for
a caregiving workforce is equally important, as is access to essential services.
Understanding these inextricable links will greatly impact how aging Boomers are
able to continue to care for themselves, receive care, and ultimately stay put.
In short, the interconnectivity of housing, workforce and services will force us
to re-think what makes a community aging-friendly.
See Data By: Richmond MSA | Virginia
| National
How Richmond Is Doing
Three in Four (77%) Richmond employees say Affordable Housing is Important. (GRCC,
WORKFORCE HOUSING, 2007)
How Virginia Is Doing
Two in three Boomers say affordable housing opportunities are important - more important
than transportation and entertainment. (ODP RESIDENT, 2008)
(ODP, RESIDENT 2008)
- Three in five Boomers (62%) say they plan to stay in their current home when they
retire (ODP RESIDENT 2008)
- Three in five Boomers (62%) say if they become disabled, they plan to stay in their
current home and have someone take care of them there (ODP RESIDENT 2008)
How the U.S. Is Doing
According to the Administration on Aging, Profile of
Older Americans, 2008:
- Of the 2.9 million households headed by older persons in 2007, 80% were owners and
20% were renters. The median family income of older homeowners was $29,899. The
median family income of older renters was $15,130. In 2007, 46% of older householders
spent more than one-fourth of their income on housing costs - 39% for owners and
73% for renters - as compared to 46% of all householders.
- For homes of older householders in 2007, the median construction year
was 1969 (it was 1973 for all householders) and 4.4% of the homes had physical problems.
In 2007, the median value of homes owned by older persons was $168,654 (with a median
purchase price of $45,191) compared to a median home value of $191,471 for all homeowners.
About 68% of older homeowners in 2007 owned their homes free and clear.(AOA, PROFILE
OF OLDER AMERICANS, 2008)
According to N4A's report on the Maturing of America:
- Older adults overwhelmingly prefer to "age in place" in their existing homes and
communities, but may need to modify their existing home or move to another residence
that is more accessible, more affordable or more appropriate in size to accommodate
their changing needs. (N4A MATURING OF AMERICA 2006)
- Only 5 percent of older adults age 55 and older change residences in a given year
compared to 17 percent of the population under 55. (N4A, MATURING OF AMERICA, 2006)
The Older Americans Act declared that older people are entitled to equal opportunity
to obtain and maintain suitable housing, independently selected, designed and located
with reference to their special needs and available at costs they can afford. Older
adults should have the opportunity to secure affordable, accessible and safe housing
and the supports necessary to live independently as long as possible. (OAA)
According to a recent report by the Office of Policy Development and Research at
the U.S. Department of Housing and Urban Development entitled, Elderly Housing Consumption:
Historical Patterns and Projected Trends:
- The number of senior households headed by those 85 or older will increase by approximately
88 percent from 2.9 million households in 2005 to 5.4 million households by 2030.
Figure ES.1: Historical and Projected Change
in the Number of Householders
|
HH Age
|
Percentage Change in the Number of Householders
|
|
1985-2005 (1)
|
Average Annual Change
(1985-2005)
|
2005-2030
|
Average Annual Change
(2005-2030)
|
|
<35
|
-0.7
|
0.0
|
14.6
|
0.5
|
|
35-44
|
20.8
|
1.2
|
7.0
|
0.3
|
|
45-54
|
44.7
|
3.0
|
1.1
|
0.0
|
|
55-61
|
26.0
|
1.5
|
22.0
|
0.8
|
|
62-74
|
1.7
|
0.1
|
89.1
|
2.6
|
|
75-84
|
27.5
|
1.6
|
84.6
|
2.5
|
|
85+
|
12.6
|
0.7
|
87.5
|
2.5
|
|
Total
|
19.1
|
1.1
|
28.8
|
1.0
|
1) Data for 2004 and 2005 are estimates.
Note: HH - Householder.
Source: ICF Consulting analysis of AHS Data.
|
Data & Information Sources
Administration on Aging, Profile of Older Americans, 2008
http://www.aoa.gov/AoAroot/Aging_Statistics/Profile/2008/docs/2008profile.pdf
Atlas of Community Health
http://vaatlas.vahealthycommunities.com/
Federal Interagency Forum on Aging Related Statistics
http://www.agingstats.gov/agingstatsdotnet/main_site/default.aspx
N4A, The Maturing of America, 2006
http://www.aginginplaceinitiative.org/storage/aipi/documents/maturing_of_america_
reformatted_for_printing.pdf
ODP, Residents’ Study & Business Leaders’ Study
http://www.olderdominion.org/documents/ODP_Exec_Sum_03_26-08.pdf
Office of Policy Development and Research at the U.S. Department of Housing and
Urban Development entitled, Elderly Housing Consumption: Historical Patterns and
Projected Trends, 2008
http://www.huduser.org/datasets/ahs/Elderly_Housing_Consumption.pdf
Older American’s Act
http://www.aoa.gov/AoAroot/AoA_Programs/OAA/index.aspx
U.S. Census Bureau, American Community Survey
http://www.census.gov/acs/www/