Housing Cost Burden - Age 65+ in Colorado

Colorado

Households that spend more than 30% of their income on housing are considered cost-burdened. Cost-burdened seniors may have difficulty affording other basic needs such as health care, food and heat. One study found that individuals who had difficulty affording housing were more likely to report fair or poor health, certain chronic conditions and non-adherence to prescriptions due to cost. Further, men and women with lower incomes experience lower life expectancies compared with their wealthier counterparts, highlighting the connection between wealth, housing affordability and health outcomes. 

Between 2019 and 2022, rental prices in the United States rose by an average of 2.6% annually, outpacing wage inflation by 169%. Transitioning into retirement during this period of increasing income inequality makes seniors especially vulnerable to economic hardship. Many older adults rely on external programs to fund their housing — Social Security payments account for a third of the income for adults age 65 and older. In 2021, 40.6 million American households spent more than 30% of their income on housing, and the number of cost-burdened households headed by someone age 65 and older reached a new high of nearly 11.2 million. Approximately half of these households spend more than 50% of their income on housing, classifying them as severely cost-burdened.

The prevalence of cost-burdened seniors is higher among: 

• Women compared with men. 
• Older Black and Hispanic households compared with older white and Asian households. 
• Metropolitan areas compared with non-metropolitan areas. 
• Adults age 80 and older compared with those ages 65-79. 
• Homeowners with a mortgage compared with those who do not have a mortgage. 
• Older adults who rent compared with homeowners. 
• Single-adult households compared with married or partnered households. 
• Compared with higher-income households, those with an annual household income of $15,000 or less. Approximately 80% of households earning less than $15,000 were cost-burdened in 2021.

Research has found that older adults prefer to stay in their own homes for as long as possible, but many residences lack the accessibility features that aging adults need. Programs designed to support home maintenance, such as the Older Adults Home Modification Grant Program, play a crucial role in enhancing safety and accessibility within the homes of low-income older adults. Additionally, Healthy Homes programs at state and local levels have been found to improve health by remedying unhealthy housing conditions, including lead exposures, inadequate ventilation and excess moisture. 

More collaboration between the housing and public health sectors is needed to promote healthy home environments and to better integrate health care into the housing systems, particularly for those with chronic health needs. County Health Rankings & Roadmaps has identified strategies for improving access to and affordability of housing at all levels of community and government. Rental vouchers, subsidized housing and utility assistance programs can help cost-burdened individuals afford safe and healthy housing:

• Through the Section 202 program, the U.S. Department of Housing and Urban Development (HUD) subsidizes affordable supportive rental housing with services that allow low-income older adults to continue living independently. 
• HUD offers other assistance specifically for or available to seniors, including housing choice vouchers.
• The Department of Agriculture's Housing Repair Program and the Department of Energy’s Weatherization Assistance Program can help older adults make necessary health and safety repairs to their homes.

The National Low Income Housing Coalition offers additional resources and policy recommendations for housing challenges.

Healthy People 2030 has a goal to reduce the proportion of families that spend more than 30% of their income on housing.

Braveman, Paula, Mercedes Dekker, Susan Egerter, Tabashir Sadegh-Nobari, and Craig Pollack. “Housing and Health.” Issue Brief #7: Exploring the Social Determinants of Health. Robert Wood Johnson Foundation Commission to Build a Healthier America, May 2011. https://www.rwjf.org/en/library/research/2011/05/housing-and-health.html.

Gibson, Marcia, Mark Petticrew, Clare Bambra, Amanda J. Sowden, Kath E. Wright, and Margaret Whitehead. “Housing and Health Inequalities: A Synthesis of Systematic Reviews of Interventions Aimed at Different Pathways Linking Housing and Health.” Health & Place 17, no. 1 (January 2011): 175–84. https://doi.org/10.1016/j.healthplace.2010.09.011.

Loren Berlin, ed. “Housing America’s Older Adults 2023.” Cambridge, MA: Joint Center for Housing Studies of Harvard University, 2023. https://www.jchs.harvard.edu/sites/default/files/reports/files/Harvard_JCHS_Housing_Americas_Older_Adults_2023.pdf.

Marcia Fernald, ed. “Housing America’s Older Adults 2019.” Cambridge, MA: Joint Center for Housing Studies of Harvard University, 2019. https://www.jchs.harvard.edu/sites/default/files/reports/files/Harvard_JCHS_Housing_Americas_Older_Adults_2019.pdf.

Pollack, Craig, Susan Egerter, Tabashir Sadegh-Nobari, Mercedes Dekker, and Paula Braveman. “Where We Live Matters for Our Health: The Links Between Housing and Health.” Issue Brief 2: Housing and Health. Robert Wood Johnson Foundation Commission to Build a Healthier America, September 2008. http://www.commissiononhealth.org/PDF/e6244e9e-f630-4285-9ad7-16016dd7e493/Issue Brief 2 Sept 08 - Housing and Health.pdf.

Pollack, Craig Evan, Beth Ann Griffin, and Julia Lynch. “Housing Affordability and Health Among Homeowners and Renters.” American Journal of Preventive Medicine 39, no. 6 (December 2010): 515–21. https://doi.org/10.1016/j.amepre.2010.08.002.

Pynoos, Jon. “The Future of Housing for the Elderly: Four Strategies That Can Make a Difference.” Edited by Robert B. Hudson. Public Policy & Aging Report 28, no. 1 (April 17, 2018): 35–38. https://doi.org/10.1093/ppar/pry006.

Sandel, Megan, and Matthew Desmond. “Investing in Housing for Health Improves Both Mission and Margin.” JAMA 318, no. 23 (December 19, 2017): 2291. https://doi.org/10.1001/jama.2017.15771.

Vega, William A., and Steven P. Wallace. “Affordable Housing: A Key Lever to Community Health for Older Americans.” American Journal of Public Health 106, no. 4 (April 2016): 635–36. https://doi.org/10.2105/AJPH.2015.303034.