The Affordable Senior Housing Challenge
Developers and services providers are grappling with the affordable senior housing dilemma.
By 2029, 54 percent of the nation’s 14.4 million middle-income seniors won’t be able to afford private-pay seniors housing options for long before they exhaust their resources and become eligible for Medicare. Out-of-pocket costs for assisted living will be $60,000 by then. Those telling—and sobering—statistics are key findings of a study released this past spring by the University of Chicago’s National Opinion Research Center and sponsored by the National Investment Center for Seniors Housing & Care, a Washington, D.C.-based research organization. The key takeaway? There is a huge need for affordable senior housing and care for middle-income seniors.