Most Older Americans Want to Age in Place, AARP Survey Finds
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AARP, Washington, D.C., released its Home & Community Preferences national survey, finding that 75% of Americans 50-plus would like to stay in their current home for as long as possible.
Seventy-three percent also reported wanting to stay in their current community for as long as possible. Both answers were higher among adults over 65 and those in small towns or rural areas.
However, half of American adults 18 or older said they’re not confident their community will continue to meet their needs as they age, and 44% of those 50-plus said they do expect to relocate at some point. On the other hand, 41% of those 50-plus said they will never leave their current home.
In general, older Americans are more likely to say their community meets their current needs, though—with 71% of those 50-plus and 75% of those 65-plus reporting that belief. That compares with 60% of Americans aged 18-49.
For older adults planning to move, financial costs play a big role, with 71% pointing to the cost of rent or a mortgage, 60% looking to lower the costs of housing and maintenance, and 55% listing property taxes.
Also for those planning to move, goals vary. Seventy-five percent of 50-plus respondents said they wanted single-family homes. Only 32% would want to be in an active adult community or neighborhood designed for those 55-plus. And, some sort of continuing care community would be on the list for just 29% of older adults.
About 43% of older Americans say they want to modify their home in some way to better prepare for aging–with 72% looking to upgrade their bathroom and 71% looking at changes to make it easier to get in or around their home. And, 64% want to install a medical emergency response system, while 44% want to add smart home security features.
“As people age, affordable and independent living isn’t just a preference—it’s essential for their wellbeing,” said Rodney Harrell, AARP Vice President of Family, Home and Community. “Most older adults want to stay in their homes, yet rising housing costs and limited options create serious barriers. To meet this growing need, leaders at all levels and sectors must prioritize affordable, safe, and accessible housing and communities.”
Last month, the Mortgage Bankers Association also released an updated research report on older Americans’ housing choices and patterns.
“The findings highlight the varying patterns for older Americans as shifting demographics, the pandemic, and overall buyer attitudes have impacted buying and selling decisions,” said Edward Seiler, Executive Director, Research Institute for Housing America, and MBA’s Associate Vice President, Housing Economics. “It is evident that older households are aging in place, leading to updated predictions that show that there will be no excess supply of homes to the markets from older Americans moving or dying over the next decade.”
