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Elder Housing Initiative
- Launched in response to concern among FSHC 2023 Summit participants seeking to collaborate with other stakeholders to bring attention to the issue and work toward solutions
- Focus: people over 55 who have lost or are at risk of losing their homes
- Promoting a wide range of independent housing solutions, not just supportive housing
- Action at the state and local level
- Stay abreast of developments at the federal level
This webpage is intended to provide information and resources to advocates working to address this issue at the local and state levels. Individuals seeking help should contact their local Area Agency on Aging or the 211 Information and Referral provider.
Elder Housing Crisis Overview
When Covid restrictions on evictions were lifted in February of 2022 call centers were overwhelmed with elderly people seeking help with housing, while homeless shelters and outreach personnel working the streets were overwhelmed with newly homeless elderly people, mostly women.
While the main causes of the rise in elders losing their homes are national in scope, the impact on Florida residents was exacerbated by the spike in people moving to Florida during the Covid pandemic, which increased housing costs, and the high proportion of elderly residents in Florida to begin with.
- Housing construction has not kept up with demand resulting in a national deficit of 4 million homes
- Birth cohort phenomenon –People born in the latter half of the “Baby Boom” (1955-1965) did not fare as well economically, are more likely to rely solely on Social Security in retirement & experience homelessness in their later years.
- The number of elders experiencing homelessness is expected to grow until 2030 and remain elevated until 2040
- Inflation, supply disruptions in building materials after the pandemic, higher interest rates all increased housing costs.
- Florida is the second fastest growing state in the nation
- High percentage of residents 65 and older (21.6% compared to 17.4% for US) – People over 65 fastest growing age group
- Since 2015, Zillow reported average home prices have more than doubled while median rents increased by 30% between 2020 and 2022, before stabilizing.
- According to the Insurance Information Institute, homeowner’s insurance has increased 102% in the last three years in Florida and costs three times more than the national average.
- Florida law requiring condominiums over three stories to fully fund reserves by January 1, 2025 caused spikes in HOA fees.
Florida Elders Who Have Lost or Are at Risk of Losing Their Homes
- Almost one third of unsheltered people experiencing homelessness are 55 or older (5,000 people in 2023) and a large portion are women
- Loss of home typically follows a traumatic event, such as the loss of a spouse, a health crisis or a large increase in rent
- 40 percent of all low-income, cost-burdened households (347,312 households in 2023) were 55 or older
- Nationally, 43% of renters have less than $1,000 in savings.
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