Since the Great Recession, rental housing markets have undergone profound changes resulting in the disappearance of low-cost units, record-low vacancy rates, and steadily rising rents, according to a report from Harvard’s Joint Center for Housing Studies (JCHS).
Among the most pressing concerns for older adults, aside from the cost burdens associated with rising rental costs and low availability, are that much of the existing stock neither suited to an aging population nor able to withstand the impacts of climate change, the report states. Retrofitting these units with accessibility and resiliency features will require public mandates and incentives to ensure that property owners can make
the needed changes while also maintaining affordability.
More data from the report is broken down by age and useful to age-friendly stakeholders considering how to improve housing in their community or region for older adults.