Housing affordability is one of the defining challenges facing older Americans and veterans — and Rob is looking for partners to help build solutions.
The need for new housing options is growing rapidly. More than one-third of U.S. households headed by someone age 65 or older are now housing-cost burdened, meaning they spend more than 30% of their income on housing. More than 12.4 million older households face this challenge, and 6.7 million spend over half of their income on housing costs.
Older renters face even greater pressure. Nearly 58% of renters age 65 and older are housing-cost burdened. Many live on fixed incomes that have not kept pace with rising rents, insurance, taxes, and utility costs. Researchers also warn that Americans over 50 are now the fastest-growing segment of the homeless population, with homelessness among older adults projected to rise dramatically over the next decade.
Veterans face similar challenges. While veteran homelessness has declined significantly over the past decade due to targeted programs, tens of thousands of veterans still experience homelessness or severe housing insecurity each year. Affordable housing remains one of the most important factors in preventing veterans from falling into homelessness.
I am looking for others to partner with to build affordable housing — investors, contractors, realtors, and city and county officials. Here are two examples of local leaders stepping up: