X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.
Beth Burnham Mace

ANNAPOLIS, MD—Fewer than half (46%) 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, new research conducted by NORC at the University of Chicago, shows. However, an additional 5.9 million older adults could afford senior housing if annual costs were cut by $15,000. Also, if average annual costs for seniors housing and care fell by just $10,000 a year, an additional 2.3 million older Americans could also afford it.

“Today’s housing stock simply cannot accommodate the influx of middle-income seniors projected to need senior housing and care within 10 years,” says Beth Burnham Mace, chief economist at the National Investment Center for Seniors Housing and Care (NIC), which supported the study. “Making seniors housing accessible to more middle-income seniors in the next decade requires innovation by real estate developers, owners, operators and investors to create and deliver affordable, quality options,” she tells GlobeSt.com.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

 

GlobeSt. Healthcare Real Estate 2021Event

Join the industry's top owners, investors, developers, brokers and financiers for the real estate healthcare event of the year!

Get More Information
 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.