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Consumer Affairs - A new report by the Harvard Joint Center for Housing Studies warns that the U.S. is not prepared to provide housing and care for this growing population. And it is growing quickly. Census data show the number of people 65 and older rose by 34% in the last decade, from 43 million in 2012 to 58 million in 2022. According to the report, the next decade will see a surge in the population that’s 80 years old or older. Seniors who are renting are seeing their monthly costs rise each year. In 2021, more than 11 million seniors were considered cost-burdened, spending more than 30% of their income on housing.
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