• COMMUNICATIONS •
All About The Numbers
- THE AFP BLOG -
We've found that it is not just the numbers that drive planning...
so here are some thoughts
we would like to share
that may help you on your financial journey.
Aging In Place Statistics And Facts In 2024
May 10, 2024
For seniors who desire to age in place, home safety modifications or downsizing to a house with less upkeep and mobility barriers can be a major decision. Successfully aging in place requires careful planning and likely a support network to address potential future issues.
In this article, Deb Hipp of Forbes Health lists a large number of facts and statistics that can help inform your decision on whether to age in place or not.
ARTICLE HIGHLIGHTS:
For older adults who prefer to age in place, making safety modifications to their home or downsizing to a residence that requires less maintenance and features fewer mobility barriers can be a crucial decision. Aging in place successfully requires careful planning, and oftentimes, a caregiver, social support system and consideration of potential future health issues, such as heart disease, diabetes and cognitive decline.
The following statistics and facts may be helpful to consider if you or a loved one wish to age in place and can help inform decisions surrounding home modifications and lifestyle choices.
Interesting Aging in Place Facts
• Aging in place requires careful planning, including decisions about additional help in the home and in-home health care, with safety, mobility and daily activities in mind.
• People who age in place may need help with activities of daily living (ADLs), such as bathing, eating, dressing, using the toilet or moving from a bed to a chair. This care can be provided by paid caregivers and/or family members.
• Many local resources exist for older adults living in urban areas, including physicians, hospitals, in-home care and help with home maintenance and transportation.
• People living in rural areas may have fewer local options to help them age in place due to their remote location.
• When planning to age in place, individuals should consider any chronic conditions they or a spouse may have, such as heart disease, diabetes, Alzheimer’s disease or other forms of dementia, to understand and plan for necessary health care needs.
• People planning to age in place should discuss their plans with family members, friends and caregivers to help anticipate future care needs that may arise. It may be necessary to revisit and revise these plans as a person’s needs change over time.
• In-home safety measures to help older adults age in place can include purchasing an emergency medical alert system, repairing or installing stair rails, removing tripping hazards such as throw rugs, adding grab rails near the toilet and in the shower or bathtub and placing night lights near the floor for evening trips to the bathroom.
• A geriatric care manager can help assess an individual’s current and future needs and provide advice for aging in place.
• Local Area Agencies on Aging can help older adults learn about city, state and federal resources that are available within their community, such as in-home care agencies, financial aid for home renovations, transportation and volunteers to help with home maintenance and meal preparation.
• Downsizing to a smaller home with a single-level floor plan can help individuals looking to age in place save money to pay for in-home care, home maintenance or safety modifications and other needs that may arise.
• Considering an area’s access to primary care physicians and hospitals, as well as shopping centers, community and social activities, religious organizations and friends and family is important for adults looking to age in their home.
How Do Aging in Place Costs Differ From Assisted Living Costs?
To give further insights into how aging in place costs differ from assisted living in each state, Forbes Health analyzed data and multiple cost factors associated with aging in place compared to assisted living costs.
To calculate the cost of aging in place, we looked at annual costs for the following instances:
• Median annual housing cost (assuming individuals looking to age in place may still have mortgages or rent to pay to provide a fair comparison to assisted living)
• The cost of homecare services
• Cost to renovate a home to make it suitable for aging in place with figures adjusted for cost of living.
Assisted living costs were taken from the Genworth cost of long-term care study and total cost figures were calculated as a percentage of the median income of older adults in each of those states. The percentage difference between an assisted living facility’s cost share of median income and aging in place’s cost share of median income was then calculated for each state to create the ranking.
The top 10 cities where aging in place is most affordable compared to assisted living are:
How Many Americans Are Aging in Place?
• 77% of adults over the age of 50 prefer to age in place. In 2020, only 1.2 million adults over 65 were residents in a nursing home.
• More than half (60%) of Americans age 65 and older lived with their spouse or partner in 2021, while 72% of older men (18 million) and 49% of older women (15 million) lived with their spouses and 27% (15.2 million) of all older adults lived alone (5.2 million men, 10.1 million women) in 2021. These individuals represent 21% of older men and 33% of older women.
• Within the past 20 years, the percentage of older adults living in nursing homes has declined while the percentage of older adults living in traditional housing has increased.
• About one in five adults ages 50 to 80 (19%) say they’re very confident in paying for help with household chores, grocery shopping, personal care and managing finances. Meanwhile, 39% were somewhat confident in paying for the same expenses and 43% didn’t have confidence they could afford these factors.
• 92% of older adults surveyed prefer to live out their later years in their current home, while 8% said they would prefer to live in an assisted living facility.
Aging in place challenges are expected to grow exponentially over the next two decades as the baby boomer generation retires and moves toward the need for in-home support and greater health care needs, says Elizabeth Landsverk, M.D., a geriatrician and founder of Dr. Liz Geriatrics, an online support and education website for dementia caregivers.
“What everyone can do to stay independent and need less care in the future is focus on one’s health,” she says. “The chronic illnesses of hypertension, diabetes, obesity, inactivity, smoking and drinking lead to a faster decline, loss of strength and increased risk of heart attacks, strokes and dementia, which necessitate more money being spent on care.”
Why Do We Want to Age in Place?
• The large portion of older adults ages 50 to 80 (88%) feel it’s important to remain in their homes for as long as possible, according to a report from the University of Michigan. Of these older adults, 62% consider remaining in their home very important, while 26% consider it somewhat important and 12% rated it as not important at all.
The top reasons older adults in the U.S. wish to age in place include:
• A desire to be independent and maintain control of personal space
• Feeling confident in their mental health and their ability to take care of themselves
• Preferring a quiet, residential area in which to live
• Feeling safe in their own neighborhood
“Many older adults fear someone else taking control and putting them in a nursing home,” says Dr. Landsverk. “Staying active and connected to community and family is key to successful aging.” Aging in place and living independently is possible for many people, but doing so takes planning, financial stability and clear-eyed recognition of the realities of aging, including the possibility of dementia, she adds.
Staying physically active, having a purpose, taking part in a community and volunteering can help individuals remain independent in their homes as long as possible, says Dr. Landsverk.
America’s Aging Population
• Between the years 2010 and 2020, the number of U.S. adults ages 45 to 64 increased by 1% from 81.8 million to 82.8 million. This age group will reach age 65 within the next decade.
• The number of U.S. adults ages 60 and older rose from 57.5 million to 76.5 million, an increase of 33%.
• The 85 and older population is projected to increase from 6.7 million in 2020 to 14.4 million in 2040, more than doubling with a 117% increase.
• Many older adults live with a chronic health condition. Nationwide, 78% of adults over 55 have a chronic condition, such as arthritis, asthma, cancer, cardiovascular disease, chronic obstructive pulmonary disease or diabetes. This rate increases to 85% in adults over 65.
• Research shows at least half of older adults ages 65 or older can expect to need care during their older years, making the availability of caregivers an important consideration for those planning to age in place.
• The national monthly median average for a home health aid is $5,148, according to the 2021 Genworth Cost of Care survey. The national monthly median average for an assisted living community is $4,500.
In terms of the long-term care necessary for aging in place, Dr. Landsverk recommends hiring a geriatric care manager, who can make home visits, suggest support services, evaluate in-home care needs, coordinate medical services and discuss difficult topics and explain complex issues. Care managers can cost between $50 to $200 an hour and aren’t typically covered by Medicare, Medicaid or private insurers.
Benefits of Aging in Place
A familiar environment can help an older adult feel a stronger sense of identity, utilize neighborhood services and resources and help them remain socially connected to friends. Staying engaged with a community and an individual’s family is a huge benefit of aging in place, says Dr. Landsverk. Fortunately, a number of home services like home health nurses, physical and occupational therapists, mobile X-rays and pharmacy access help make aging in place possible for individuals who require more care. Aging in the home can also help avoid serious infections and the loss of muscle mass that can occur when an older adult stays in a hospital or nursing home bed, she adds.
How Aging in Place Benefits the Health Care System
• Older adults living at home can help protect themselves against accidents and reduce the risk of falls thanks to home modifications like stair lifts, which may help save money on hospital bills.
• Falls are estimated to cost over $50 billion per year in medical expenses as of 2015.
According to Dr. Landsverk, ensuring primary care doctors and home health support are available to care for people aging in place may help cut costs to Medicare and hospitals.
The Biggest Concerns About Aging in Place
• More than one-third of adults ages 50 to 80 report feelings of isolation, which can have negative implications on both physical and mental health.
• Loneliness may increase among older adults due to lifestyle changes like living alone, as well as hearing loss, chronic illness and loss of family and friends.
• 38% of respondents in a 2021 survey by AARP look after someone living on their own. Of that number, nearly half worried about the person they care for being able to continue living independently.
Older adults who live in rural areas are of particular concern, notes Dr. Landsverk, given the potential for isolation in remote locations. Individuals living in rural areas or the suburbs can also encounter transportation challenges if driving becomes unsafe and public transportation isn’t available, which can lead to changes in lifestyle, she says.
Dr. Landsverk recommends older adults try to stay involved in local activities, such as sports, arts and religious community groups, instead of staying home. “Apathy can be a sign of depression, dementia or substance abuse; all of which lead quickly to decline and need for more care.”
The Number of Homes Suitable for Aging-in-Place
• A 2020 report by the U.S. Census Bureau estimates only 10% of American homes are “aging ready,” meaning they feature a step-free entryway, a bedroom and bathroom on the first floor and at least one bathroom accessibility feature.
• One-third of all poll participants in a 2021 AARP survey said modifications would be necessary in their current residence so they or a loved one could continue to live there should physical limitations occur.
• 79% said bathroom modifications like grab bars or no-step showers would be necessary, 71% noted indoor and outdoor accessibility issues, 61% said they would need an emergency response system and 48% said they would need smart-home devices, such as a voice-activated home assistant or a doorbell camera.
• Aging-in-place home modifications can cost anywhere from $10,000 to $100,000.
According to 2019 data reported by the Census on the American House Survey, 51.9% of homes with two or more floors do not have an entry-level bedroom and 38.9% of homes with two or more floors do not have an entry-level bathroom.
The community in which a person wishes to live, as well as home safety and mobility modifications are important factors to consider when deciding whether to age in place, says Dr. Landsverk.
Most Common Accessibility Features in a Home
• Older adults report the most common accessibility features in their homes as the main floor bathroom (88%) and bedroom (78%), according to the National Poll on Healthy Aging by the University of Michigan.
• About half (54%) of door frames in the homes of surveyed older adults are wide enough for a wheelchair to pass through, 32% have lever-style door handles and 19% have home entrances with ramps or no stairs.
• Existing bathroom features that support aging in place include shower chairs or benches (36%), raised-height toilet seats (36%) or grab bars (32%), while 7% report having barrier-free showers.
• Half of older adults (49%) polled report having at least one smart home device that uses Wi-Fi and sensors for communication between devices, remote monitoring and/or voice control.
• Fewer than 10% of older adults surveyed report having smart stove alarms, bath temperature monitors, water leak detectors, smart medication pillboxes or emergency response systems, each of which are specifically designed to promote safety in the home.
• 76% of remodelers say they’ve received more requests for aging in place related features over the past five years.
• The most common aging in place modification was grab bars, with 93% of remodelers noting having installed the devices in the past year.
Having a bedroom and a bathroom on the first floor is essential when planning to age in place, says Dr. Landsverk, who adds that it’s important to also consider how many stairs a home has at its entry points. Small, inexpensive bathroom modifications such as a raised toilet seat with side grab bars can help prevent serious injuries.
A shower bench and low entry threshold tub or shower are also important safety features that can prevent slips and falls.
Additional Home Modifications for Aging in Place
Home modifications and safety features to make a home more accessible for aging in place include:
• Walk-in-tubs are designed with a low-entry threshold, eliminating the need for the user to step into the tub, and often include grab bars to help prevent slips or falls.
• Stair lifts are seats with motorized gears on a track installed along stairway walls to enable a person to ride in a seated position up and down a flight of stairs. Versions include straight stair lifts, curved stair lifts and outdoor stair lifts.
• Home elevators use steel cables powered by a motor, pulley system or hydraulic pump to help transport a person from one level of their home to another.
• Medical alert systems enable a person to contact a call center to notify first responders and family through the push of a button in case of an emergency or if they need help.
• Lift chairs are motorized, recliner-style chairs that use a powerlifting mechanism to gently move a person from a seated to a standing position or to sit down easily and safely.
CLICK BELOW to view the FULL ARTICLE!
VIEW FULL ARTICLE
AUTHOR:
Deb Hipp
Forbes Health
RETURN TO BLOG ARCHIVE
Our knowledge
is your power.
As true "life planning enthusiasts", we pride ourselves on sharing our insights
with the community at large.
Get the latest from AFP,
delivered straight to your inbox.
SUBSCRIBE NOW
Let our passion for what matters
most to you open new possibilities
in your life story.
LET'S CONNECT