By 2040, 33 percent of the US population will be over the age of 55, compared to 29 percent in 2017. The senior population in 2040, 29 million people larger than today, will be significantly more racially and ethnically diverse. This report focuses on their housing needs, noting that, if current trends persist, seniors who rent, live in nursing facilities, live by themselves, and live in multigenerational housing will all increase significantly, changing the number and types of housing we will need in the future. We find that while many seniors want to age in place, their homes need substantial repairs and modifications to accommodate this desire. We also find that when seniors move, many move to expensive homes in affluent neighborhoods.
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