Growing ‘middle market’ of older adults creates opportunity for U.S. seniors housing & care sector
Fewer than half (46 percent) of America’s middle-income seniors will be able to afford the $60,000 average annual costs of seniors housing and out-of-pocket medical costs in 2029, according to National Investment Center for Seniors Housing & Care (NIC). But if the costs were cut, millions of older adults could benefit.
Independent research conducted by NORC at the University of Chicago shows that an additional 5.9 million older adults would be able to afford seniors housing if annual costs were cut by $15,000. Data show that if average annual costs for seniors housing and care fell by just $10,000 a year, an additional 2.3 million older Americans would be able to afford it.
“Today’s housing stock simply cannot accommodate the influx of middle-income seniors proj