Within the 65-and-over age group, most recent income gains have gone to the highest earners, and the number of households with housing cost burdens has reached an all-time high. Ensuring that middle- and lower-income households in this age range have the means to live affordably and safely in their current homes or move to other suitable housing will be a growing challenge. Meanwhile, many households in the 50–64 year-old age group have not recovered from the Great Recession, leaving them with lower incomes and homeownership rates than their predecessors at similar ages. For the nearly 10 million households in this age group that are cost burdened, ensuring financial and housing security in retirement will be a struggle.
Joint Center for Housing Studies at Harvard University