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Housing inequality a growing concern for older adults

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Posted at 11:02 AM, Feb 18, 2020
and last updated 2020-02-18 12:02:29-05

Housing inequality for senior citizens is a growing concern as the number of households headed by older adults climbs.

Some older adults in Central Texas are already feeling the cost burden.

According to Harvard University's Joint Center for Housing Studies, the number of older adults facing housing cost burdens reached an all-time high of 10 million.

In Waco, 23.5% of households headed by people 65 and over were cost burdened.

The report considers "cost burden" a household that pays more than 30% of their income to housing costs.

The Killeen-Temple area has a slightly higher amount of 25.8% of older adults struggling to pay for housing.

College Station-Bryan has 24.3% of households 65 and over feeling cost burdened.

These numbers are significant considering the expected rise of senior citizens that will take on costs like rent and utilities in the coming years.

Between 2012 and 2017, the number of households headed by someone 65 or older jumped from 27 million to 31 million, according to the Joint Center. That rise is expected to continue.

The same report show nearly 50% of renters, of any age, are cost burdened across the Central Texas area.