By age 55, Solo Agers are looking ahead and preserving capital while still still paying for private health insurance. They need a way to reduce costs while planning for a healthy future as they head into their late 60’s and beyond with Medicare. There are three primary challenges 1. Exclusivity: Only about 8% of Americans aged 65+ reside in a senior living facility. 2. Cost: According to the Harvard Joint Center for Housing Studies, 49% of renter households are already cost-burdened, meaning they spend 30% or more of net income on housing. For Active Adult community renters, the monthly rent typically ranges from $1,800 to well over $3,000. Optional services can add $500 to $1,500 per month. In addition, many communities require a substantial buy-in fee. 3. Health: Social isolation and loneliness hinder good health, putting older adults at risk for high blood pressure, heart disease, obesity, a weakened immune system, anxiety, depression, cognitive decline, Alzheimer’s disease, and even death. We see this as an unsustainable situation requiring a bold new approach combining attainable residential real estate utilization with lifestyle and senior living services for Solo Agers seeking a healthy future.
