ST. PAUL --
Minnesota faces a potential crisis in affordable housing for its growing senior population, according to a new report from Maxfield Research.
By 2020, the number of people age 65 and older in Minnesota will eclipse
the 5 to 17-year-old age bracket, for the first time in state history.
As Minnesota's older adult population grows, affordable senior housing is in short supply, according to a new report by Maxfield Research.
The demand for affordable senior housing will increase 54 percent by 2020.
The problem isn't new; it's already here. The demand for affordable senior housing already exceeds the supply, the report found.
There are about 25,000 affordable senior housing units in Minnesota. An additional 150,000 older adult households qualify for these units.
"As people age, housing can become a real financial hardship, especially for renters," stated Barbara Dacy, president of Minnesota NAHRO and executive director of Washington County HRA. "More than half (54%) of older renters in Minnesota pay more than 30% of their income toward rent."
The report notes an alarming trend-adults age 55 and older are the fastest growing population of Minnesotans experiencing homelessness. Homelessness among older adults jumped 48 percent since 2009.
This year, lawmakers will consider $130 million in bonds for housing, including affordable senior housing.
"
We are grateful Governor Dayton included $90 million for housing in his bonding proposal,"
stated Dana Hiltunen, co-chair of the Homes for All coalition. "Our
proposal builds on the Governor's request while taking necessary steps to develop affordable senior housing."
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