Senior Housing Will Be Too Expensive for 54% of Mid-Income Older Adults by 2019
Posted on Thursday, April 25, 2019 9:11 PM
By 2019, there will be close to 8 million middle income older Americans who will not be able to afford senior housing. This will create an opportunity for home-based care providers, as their services are more cost effective. This is according to a new study by the National Investment Center for Seniors Housing & Care (NIC), NORC at the University of Chicago, Harvard Medical School and the University of Maryland School of Medicine. Their research, which was released Wednesday, will be published in the May issue of the journal Health Affairs.
“Our results show a large and growing cohort of middle-income seniors will have a gap between their housing and care needs and the financial resources to meet those needs, given today’s seniors housing options,” the researchers wrote. “As the opportunities to serve this growing cohort becomes more recognized, we expect creative entrepreneurs to pursue other yet-to-be-imagined solutions.”
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