Harvard’s Joint Center on Housing Studies released a report, “Housing America’s Older Adults 2023,” on November 30 that underscores the affordable housing crisis for older adults.

The report shows that the U.S. is unprepared to provide housing and care for millions of older adults, and states, “older adults, whose incomes are often fixed or declining, increasingly face the twin challenges of securing affordable housing and the services they need to remain in the home of their choice.”

According to the report, housing cost burdens reached all-time highs in 2021, and the costs of long-term care services are also out of reach for many, averaging over $100 per day.

The report concludes with the need for both government funding and “creative alternatives to existing models of care and housing” to better support the country’s rapidly aging population.

View the report and summary here, and stay tuned for a more detailed analysis from LeadingAge.