- 11.7 million older households are severely cost-burdened, more than double from two decades ago.
- 80% of U.S. homes lack age-friendly features like step-free access.
- Seniors spending over 50% of income on housing often cut back on essentials like medicine.
- Senior renters are especially vulnerable due to unpredictable rent hikes and fewer protections.
- Las Vegas lacks enough senior-friendly affordable homes, straining its aging population.
The Senior Housing Crisis: Who Will Care For Aging America?
As America’s population ages, a growing number of older adults are reaching a financial barrier: the housing market is no longer working to their advantage. Increasing rents, homes that are hard to get into, rising property taxes, and limited housing options created for aging in place are making it tougher for seniors to live safely and affordably. For many — especially those living on Social Security or fixed retirement incomes — stable shelter is becoming unattainable. The result is a growing senior housing crisis, happening across the country and intensely in cities such as Las Vegas.
The Rise of Cost-Burdened Seniors
The phrase “cost-burdened seniors” has become an increasingly common — and concerning — term in housing policy. It refers to older adults spending more than 30% of their income on housing, and those who spend more than 50% are categorized as “severely cost-burdened.”
According to the Urban Institute, the number of cost-burdened senior households has increased greatly from 5.2 million two decades ago to 11.7 million today (Urban Institute, 2024). This large increase in unaffordable housing for seniors indicates a wider change in how older Americans experience retirement — with far fewer doing so comfortably.
For many seniors who rely mainly on Social Security for income, the math is clear. In 2024, the average monthly Social Security benefit is about $1,850 — translating to an “affordable” housing cost of about $555 per month. In most markets, that’s far below average rents, not to mention the combined cost of utilities, insurance, taxes, and upkeep for homeowners. Consequently, millions of older adults are forced to make painful choices: skipping meals, cutting medications, or suffering in homes that remain too cold in the winter or dangerously hot in the summer.
Steady Climb in Senior Housing Costs
The cost of living has risen dramatically across the board in recent years, but seniors face unique financial pressures related to housing. Beyond just soaring home prices or rent, there are structural costs tied to aging that don’t go down — and often increase.
Homeowners Insurance and Disaster Risk
Insurance premiums have spiked across much of the country, especially in states like California, Florida, and Nevada, where wildfire or flood risks have increased. Older adults who have owned their home for decades may now be priced out simply because they can no longer afford to insure it. Premiums that once cost $800 annually may now exceed $2,000, rising above even inflation rates.
Property Taxes
While some states, including Nevada, cap tax increases for senior homeowners, many fast-growing regions continue to see steep increases in property assessments. This recalibration often hits seniors hardest when markets boom — which has been particularly true in places like Las Vegas. As property values rise, so too do tax obligations, whether or not a homeowner’s income follows.
Utility and Maintenance Expenses
Older homes — especially those purchased before 1990 — tend to be less energy-efficient. Outdated HVAC systems, leaky windows, and poor insulation can create electricity and gas bills that are substantially higher than newer homes. For a senior household with limited monthly income, rising utility costs during peak summer or winter months may add hundreds in unexpected bills. In addition, older homes need more upkeep. If a furnace breaks or the roof leaks, repairs can run thousands of dollars, with no easy recourse for seniors without savings.
Accessibility and Age-In-Place Challenges
Affordability is critical, but livability is also essential — especially as Americans live longer and increasingly wish to “age in place.” Unfortunately, most housing in the U.S. is not designed with aging in mind.
A 2020 report by Harvard’s Joint Center for Housing Studies found that more than 80% of U.S. homes lack accessibility features such as
- Step-free entryways
- Single-floor living
- Wide doorways for walkers or wheelchairs
- Walk-in showers or grab bars in bathrooms
Changing homes to accommodate mobility limitations is both expensive and complex. A basic stairlift may cost $2,000–$5,000, while full bathroom or kitchen renovations to accommodate wheelchairs can exceed $10,000. Accessibility isn’t just a good feature for older adults — it’s often a matter of safety and independence.
Unfortunately, the market hasn’t broadly responded to this demand. Most new residential construction still focuses on multilevel properties, “starter homes” for young families, or high-end housing out of reach for the average retiree.
Comparing Owner vs. Renter Struggles
There’s a significant difference between the challenges faced by senior homeowners versus senior renters — though neither side of the equation escapes without harm.
Senior Homeowners
Owning a home does offer some predictability — mortgage-free living and the ability to build equity. However, that equity is only available if the owner chooses to sell or refinance. In the meantime, ongoing costs such as maintenance, property taxes, and insurance still pose risks. Additionally, the process of selling and downsizing is complicated, during a period when health and energy may already be declining.
Senior Renters
Senior renters face even greater insecurity. They’re more likely to be cost-burdened, have no housing equity, and are at the mercy of landlord policies. Rent hikes, notice-to-vacate letters, and dwindling rental subsidies can leave older renters dangerously vulnerable. According to the National Low Income Housing Coalition, over half of all renter households headed by someone 65+ are cost-burdened, and nearly a third are severely cost-burdened.
For seniors already facing physical or cognitive limitations, forced relocation due to rent increases can be traumatic — and even life-threatening.
The Las Vegas Lens: Local Outlook on the Senior Housing Crisis
In cities like Las Vegas, where the retiree population is growing rapidly, the senior housing crisis plays out in ways both urgent and specific.
Local real estate expert Steve Hawks highlights how the city has become both a haven and a hazard for seniors. “We’re seeing a sharp demand for single-story, low-maintenance properties, especially in the under-$400,000 range,” he says. “But the supply just isn’t there anymore.”
As Las Vegas attracts new residents — from retirees seeking warm weather to millennials priced out of California real estate — competition for housing has surged. But despite a robust building boom, most new inventory caters to high-income buyers or young families, not aging adults seeking ease of use and affordability.
Neighborhoods that once offered low costs and accessible amenities are becoming gentrified, displacing long-time residents or forcing them into housing too far from doctors, hospitals, or family support systems.
Aging in Las Vegas: Popular but Problematic
Las Vegas remains a popular retirement destination for many reasons: consistent sunshine, favorable tax laws (no state income tax), and reasonably priced living compared to West Coast cities. However, these same benefits fuel demand and strain supply.
Many of the city’s so-called 55+ communities do include desirable features — pool access, community centers, and security — but they also come with high HOA fees that can exceed $300/month. For cost-burdened seniors, these added expenses often push otherwise suitable housing out of reach.
Older Las Vegas neighborhoods built pre-2000 also pose challenges. Though more affordable, they often lack the accessibility modifications necessary for aging adults. Widening doorways, installing rails, or lowering countertops comes at a steep cost, especially in homes that may already need major repairs.
Why the Housing Market Isn’t Just “Failing” — It’s Locking Seniors Out
Many seniors facing today’s housing crisis have few, if any, economic options to recover or adapt. Unlike younger individuals who can pivot — increase working hours, switch cities, or share housing — retirees are often locked into fixed incomes, diminished health, and limited flexibility.
That rigidity, combined with rising costs, leads to
- Skipped medications or deferred medical appointments
- Involuntary cohabitation in unsafe or overcrowded settings
- Increased risk of homelessness among elderly populations
Mental health repercussions are also profound. Chronic housing uncertainty leads to higher rates of anxiety, depression, and poor physical health among cost-burdened seniors.
Solutions Proposed Nationally
Fortunately, experts like those at the Urban Institute have proposed policy solutions that could soften the crisis
- Property Tax Deferral Programs: Allow homeowners to delay property taxes until the home is sold or inherited.
- Medicaid HCBS (Home and Community Based Services): Utilize Medicaid waivers to help cover in-home support, delaying nursing home placement.
- Subsidized Insurance: Government-subsidized insurance for seniors in high-risk areas helps protect them from being priced out.
- Expanded Section 8 Vouchers: Increasing federal voucher programs and waitlist availability could immediately assist senior renters.
While some of these programs are available in parts of Nevada, implementation is limited or under-resourced. Increasing these initiatives specifically for older adults could dramatically improve housing security for cost-burdened seniors.
How Real Estate Professionals Can Help
Real estate experts can be important resources for families getting through housing in older age.
Steve Hawks recommends that agents working with aging clients focus on
- Budget-aware property selection
- Evaluating long-term accessibility
- Prioritizing homes near medical services and transportation
He emphasizes, “Many seniors make housing decisions during a health crisis. We try to help them plan before that point, finding homes not just for today — but for the next 15 years.”
Experienced agents recognize small things that make a big difference: a no-step entry, nearness to CVS or a hospital, quiet vs. high-traffic neighborhoods, or a well-run HOA with senior-friendly policies.
Real Estate Investment Opportunities
The aging American population isn’t just a challenge — it represents a significant chance for developers and investors willing to design for it.
Demand is growing for
- One-story homes with ADA-accessible features
- Gated communities with health and transportation services
- Apartments with elevator access and in-unit safety features
Steve Hawks points to regions like Henderson, Southwest Las Vegas, and Summerlin as prime investment zones for senior housing — due to their infrastructure, land availability, and growing aging population.
Those who invest now in building or changing real estate with aging in mind can meet a critical community need while fulfilling a lucrative demand.
Navigating the Senior Housing Crisis: Tips for Families
If you’re supporting an elderly family member, preparation can lessen significant hardship later. Consider the following steps
- Begin planning in your loved one’s early 60s to understand usable housing options.
- Research local aid, including rent subsidies, home grant programs, and free home modification help.
- Work with senior-focused realtors who know affordable, accessible neighborhoods.
- Consider downsizing as values remain high — cashing out equity may allow for relocation and medical savings.
- Evaluate home-sharing options or ADU construction with multigenerational family living in mind.
Policy Changes Needed Locally
Las Vegas has an opportunity to lead the way with forward-thinking, accessibility-centric housing policy. Policy recommendations include
- Grants for home accessibility retrofits: Help low-income seniors pay for necessary home modifications.
- Local tax incentives for developers: Reward builders creating units specifically suited to seniors.
- Expanded municipal property tax relief: Offer deeper breaks or deferrals for those aged 65+ with annual incomes below a certain threshold.
Senior housing isn’t just a personal issue — it’s a public infrastructure one. As Las Vegas continues to grow, investing in affordability and accessibility is key to ensuring a livable future for aging residents.
Is the Market Failing Seniors?
In many ways, it is. The surge in cost-burdened seniors, combined with a shortage of suitable housing, makes the outlook difficult for millions of aging Americans. But it’s not too late. Through better planning, updated policies, and smart investments in accessible housing, we can redesign a system that protects older generations and affirms their dignity.
Communities like Las Vegas — and the real estate agents, policymakers, and families within them — must act decisively. Because getting older shouldn’t mean getting priced out of the place you call home.
Citations
Urban Institute. (2024). America’s housing market is failing older adults. Retrieved from https://www.urban.org/urban-wire/americas-housing-market-failing-older-adults
U.S. Census Bureau. (Referenced by Urban Institute, 2024). Survey data shows increase in senior cost-burdened households.