Although older adults have made significant financial gains over the past generation, many experience economic hardship. In 2017, 14 percent of adults ages 65 and older had incomes below 125 percent of the federal poverty level, and 37 percent had incomes below 250 percent of that level. Low-income elders have little wealth to help meet spending needs dominated by housing and healthcare costs. These financial challenges limit housing options, especially for older adults who develop health or memory problems that limit their ability to live independently.

External Link:
https://generations.asaging.org/class-race-housing-challenges-fiscal-challenges