Many baby boomers aren't winning in the housing market anymore

"About a third of 65-and-older households were cost-burdened in 2023, meaning they spent more than 30% of their income on housing."

"Household incomes tend to decline as people enter their 80s, significantly affecting their ability to manage housing expenses."

"More than half of cost-burdened older households were severely cost-burdened, spending over 50% of their income on housing."

"The share of older adults 65-plus is going to tilt older, and a higher share will certainly face cost burdens."

A significant portion of older American households is facing housing challenges in 2023, with around a third of those aged 65 and older spending over 30% of their income on housing. This financial strain is exacerbating as more individuals enter their 80s, where incomes typically decline due to loss of partners and reliance on a single income. The situation is critical, as more than half of cost-burdened older households are experiencing severe burdens, needing over 50% of their income for housing. The growing population of older adults indicates an increasing demand for accessible housing and services.

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