7 Senior Housing Options Agents Need to Know!Daniel Dobbs2025-03-05T16:21:43-08:00
America’s population is aging, & it’s time to get serious about senior housing. The U.S. Census Bureau’s 2017 National Population Projections reports that by 2030, one in five residents will be of retirement age.
Soon, a flood of aging baby boomer clients (and your own family!) will turn to you for advice about retirement housing.
“The aging of baby boomers means within just a couple of decades, older people are projected to outnumber children for the first time in U.S. history.
By 2035, there’ll be 78 million people 65 years & older vs. 76.7 million under the age of 18,” writes Jonathan Vespa, a U.S. Census Bureau demographer.
A Guide to Senior Housing Options
1. Aging in place
Most people like where they are and don’t want to move. In fact, 87% of people over 65 want to age in their current home and community.
Aging in place has obvious appeal.
Seniors are comfortable in their homes and neighborhoods, have a social network of friends and neighbors, and know the local stores and doctors.
The trouble with aging in place is most homes aren’t designed for the disabled. Stairs or narrow doorways can make the house inaccessible. Kitchens, toilets, & showers might be inappropriate for users with disabilities, & trip hazards abound.
Aging in place can put some seniors at risk for loneliness.
Many elderly are unable to drive, so if friends and neighbors start moving away or dying, the old neighborhood can start to feel alien and remote.
Senior isolation is a leading (preventable) cause of depression, cognitive decline, and dementia.
2. Co-living
First popularized in the show Golden Girls, co-living can take many forms.
Options range from unrelated roommates sharing a house to planned communities of condos or SFRs with common areas for social activities.
The beauty of co-living is the built-in social network. Seniors have a group of neighbors or roommates with whom they share meals, travel, and support.
Websites are available to help seniors search for co-housing opportunities.
Depending on the arrangement, co-living may limit privacy, as anyone who’s had a college roommate can attest to!
Finally, co-housing usually works best for able-bodied seniors since the public spaces often require everyone’s participation in their upkeep.
3. Moving in with relatives
Living with relatives might be the ideal retirement arrangement as there’s a built-in support system with loved ones. Younger generations could care for the elderly, help with childcare.
Unfortunately, moving in with family is uncommon in the U.S. About 6% of U.S.-born and 2% of foreign-born seniors live with relatives.
But many seniors worry about imposing on younger relatives and many younger family members fear the loss of privacy.
Moreover, homes are often too small or are not suitable for the disabled, making moving in together impossible.
Those planning to move together who have the financial resources should consider multi-generational homes designed with ample space and privacy.
4. Retirement communities
Retirement and residential care communities are enormous and growing rapidly.
Organized retirement communities are the dominant market player in senior housing, worth nearly $70 billion and growing almost 4% a year.
Advantages typically include an immediate social network with other seniors, escalating care as disabilities develop, and organized activities and community spaces.
However, retirement communities are often the most expensive option, pricing out many seniors. Communities often impose strict rules regarding pets, alcohol, smoking, and overnight guests, which degrade their residents’ dignity and autonomy.
5. Margaritaville
This is probably the most extraordinary retirement community in the world! Who wouldn’t want that? Learn more about Margaritaville here.
6. Naturally Occurring Retirement Community (NORC)
A NORC is a community with a large fraction of residents over 60 that developed organically.
It is a building that often started with young families who remained together as they grew older.
Although these homes were not specifically designed to meet the needs of the elderly, they have a remarkable social network. Rad more about these wonderful organizations here.
7. Accessory Dwelling Units (ADUs)
Recent changes in law in many cities have made it easier to construct ADUs.
Note: As the ADU market continues to evolve, Ms. Field will be my future guest columnist. I’ve been impressed with her knowledge and that of her husband, a licensed contractor.
ADUs are less expensive than most other types of senior housing, and “granny flats” offer a great combination of privacy and proximity to a loved one.
Since ADUs are detached from the main house, the residents of the ADU & the owners of the main home preserve their dignity and control of space.
