ANNAPOLIS, MD—Fewer than half (46%) of America's middle-incomeseniors will be able to afford the $60,000 average annual costs ofseniors housing and out-of-pocket medical costs in 2029, newresearch conducted by NORC at the University of Chicago, shows.However, an additional 5.9 million older adults could afford seniorhousing if annual costs were cut by $15,000. Also, if averageannual costs for seniors housing and care fell by just $10,000 ayear, an additional 2.3 million older Americans could also affordit.

“Today's housing stock simply cannot accommodate the influx ofmiddle-income seniors projected to need senior housing and carewithin 10 years,” says Beth Burnham Mace, chief economist at theNational Investment Center for Seniors Housing and Care (NIC),which supported the study. “Making seniors housing accessible tomore middle-income seniors in the next decade requires innovationby real estate developers, owners, operators and investors tocreate and deliver affordable, quality options,” she tellsGlobeSt.com.