By 2035, the U.S. population aged 65 and older will increase to 79 million, up from 48 million today. One in five people will be 65 or older, and one in three households will be headed by someone in that group.
These numbers come from a new report from Harvard’s Joint Center, titled “Projections and Implications for Housing a Growing Population: Older Adults 2015-2035.”
Over the next few decades, the demand for affordable, accessible housing will grow substantially. For instance, more than eight million older Americans will be spending more than half of their income on housing in 2035.
The report notes that in many surveys, older adults express a strong desire to live at home for as long as possible. Achieving that goal will require public and private action to support modifications to existing homes, take steps to address the affordability challenges facing both owners and renters, and adapting the health care system to enhance service delivery in the home.