How Is Housing Changing As The US Population Ages?

Without generalizing too much, we’ll agree that the needs of aging people affect their personal housing choices. For people in their 70s, 80s and 90s (and even 100s) who are healthy and active, what ranks highest on their list of priorities when they select a home? Most people prefer to avoid assisted living as long as possible, for personal as well as financial reasons. That’s priority #1.

But a typical house and yard often become less important, and amenities providing comfort and convenience become more important, which explains why apartments, condos and townhouses are attracting more attention.

RealtyMogul.com reports: “Demand for senior housing will likely increase as the U.S. population ages, the Counselors of Real Estate said. According to the U.S. Census Bureau, seniors will represent 20 percent of the U.S. population by 2030. More than 500,000 people are expected to be age 65 and older each year, which could fuel the senior housing sector.”

As an example, I know a couple… he’s 93 and she’s 88. They are doing well and living without assistance in a one-story home on a golf course in Iowa, where it gets frigid and icy in the winter. And he likes to walk every day, so walking in bad weather can be a problem. That’s why they are thinking about moving to a multi-floor complex with common areas where he can walk safely indoors, in any weather.

Even though they both enjoy their home and prefer to own rather than rent, yard work and maintenance are a burden now. He can still mow his lawn, but as he puts it, “I just don’t want to do it anymore.” Pride of home ownership and pristine upkeep is no longer his top priority.

They have the means to choose any type of housing, and they are still healthy and active, but their priorities are changing. Since he uses his tablet for news and reading ebooks, they are connected and looking forward to digital technology and services in their new place, such as digital health monitoring and temperature control.

And of course they want to live near other seniors so they can socialize. That’s a big deal to both of them.

Unassisted living for healthy, active seniors is big business now. Investors are renovating especially for the needs of seniors and developers are planning and building for the predicted senior population boom. Swimming pools large enough for classes, walking paths, golf courses, media rooms, social events, deli and take-out food, and concierge and transportation services are all popular amenities in upscale building complexes.

I wonder what other advantages will be available when I’m thinking about down-sizing at age 93?