A1 Housing the Elderly PPT - AARP Foundation, Maicie Jones

HOUSING AND THE RURAL 50+Maicie Jones – Program Manager, AARP Foundation

December 7, 2012

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AARP Foundation’s Vision and Mission Led to Four Areas of Focus

Foundation Four Impact Areas

In America, nearly 9 million people age 50+ are at risk of hunger.

Low income people age 50+ experience the negative consequences of isolation, including poor health outcomes, limited access to resources, and loneliness.

Over 33 million low income people age 50+ do not have adequate financial resources and are at risk of not meeting one or more of their basic needs.

Income Problem Statement

Isolation Problem Statement

At least 13 million households headed by low-income, 50+ people live in unaffordable and/or inadequate housing.

Housing Problem Statement

Hunger Problem Statement

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The Housing Impact Area Works to Solve a Serious Problem

At least 13 million low-income, 50+ households live in unaffordable and/or inadequate housing.

The Housing Impact Area of AARP Foundation seeks to win back opportunity for the struggling 50+ through four strategic housing objectives:1. Preserve adequacy and affordability within current homes2. Increase the supply of adequate and affordable housing3. Raise awareness of the housing needs faced by the low-income 50+4. Build thought leadership through research and convenings

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Increases in Housing Cost Burdens Have Risen Across All Income Levels

Proportion of 50+ spending 30% or more of income on housing costs

$0-$23,128 $23,128-$47,275 $47,275-$86,195 $86,195+0%

10%20%30%40%50%60%70%80%

62%

28%

12%4%

70%

38%

20%7%

20002009

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More Mortgage Debt and Increased Foreclosure

Percentage of Families with Mortgage Debt

Age of Head 1989 2010 % Change

45-54 58.3 60.4 4%

55–64 37.0 53.6 45%

65–74 21.7 40.5 87%

75+ 6.3 24.2 284%

Foreclosure Rates by Age

2007 2011 % Change50–64 0.31% 2.98% 861%

65–74 0.25% 2.55% 920%

75+ 0.33% 3.19% 867%AARP – Nightmare on Main Street: Older Americans and the Mortgage Crisis

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Rural 50+ Also Feel the Effect

From an AARP survey of 2,260 adults aged 45-66:

• 65% of those in rural areas cited cost of living as being very important or important in choosing where to live

• 42% of those in rural areas worried that they would not be able to afford current housing expenses after retirement

AARP 2011 Boomer Housing SurveyAARP 2011 Boomer Housing Survey

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Home Modification to Allow for Aging in Place Also a Cost Burden

80% of homeowners bear the total cost of home modification

Declining home values make financing home modification through home equity increasingly difficult

36% of rural older adults surveyed indicated that universal design features may be cost prohibitive

AARP 2011 Boomer Housing Survey

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Aging Homes and Repairs Present a Problem for Rural Older Adults

50+ Living in Housing Built Before 1970

2000 2009

39%45%

38%

48%

Own Rent

Surveyed 45-65 in Rural Areas with Access to:

51%

36%

23%

Light Home Repair Service Contractor

Outdoor Maintenance Service

AARP 2011 Boomer Housing Survey

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Gap Exists between Importance and Availability of Services in Rural Areas

Pulbic transit accessible by walking

A drug store within 1/2 mile of your home

A grocery store within 1/2 mile of your home

Your doctor's office

25%

38%

40%

48%

42%

61%

70%

81%

ImportantPresent in community

Based on Responses from Surveyed Adults 45-65 in Rural Areas

AARP 2011 Boomer Housing Survey

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Rural Communities Rated Lower by Surveyed 45-65 Residents

Rural Suburban Urban

60%64% 65%

36% 35% 34%

3% 1% 1%

High (8-10)Medium (4-7)Low (1-3)

Surveyed Adults 45-65 Rate Their Communities on a Ten-Point Scale

AARP 2011 Boomer Housing Survey

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AARP Foundation Offers Programs to Improve Housing for Vulnerable 50+• Housing Solutions Center• Home Repair Accelerator Grants• 50+ Housing Research• Additional Future Programming

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Thank You!