Sustaining homeownership means long-time residents are able to age in place in the communities in which they were raised.
The need to understand and act on the urgent issues around keeping older adults in their homes, or “aging in place,” have never been greater.
The latest national statistics on the growth of the elderly population is eye-opening.
The number of households headed by seniors will expand dramatically. Practically all household growth from 2020-2030 and most from 2030-2040 will be accounted for by seniors as Americans continue to age.*
Let’s look at some other numbers** that shed light on the circumstances…
In East Palo Alto, African Americans represented 61% of the population in 1980. In 2022, that figure was closer to 11%. East Palo Alto has lost more than half of its African American homeowners since 2000.***
The average age of the homeowners we typically help in San Francisco’s Bayview is 65. They are retired teachers aides, nursing assistants, postal workers — all of whom own their own homes but who are also living on low fixed incomes.
Home equity makes up 92% of African American homeowners’ personal net worth vs. 58% for white homeowners
1 in 3 adults aged 65 or older falls each year, and half of those falls occur at home, many resulting in serious injuries. Sometimes simple modifications — such as grab bars and handrails — can make a home safe.
Your gift will help us sustain homeownership opportunities for more local, long-time residents who want to stay in their homes and in the communities they love.
A truly impactful way for you to support aging in place is to sign up to volunteer for a shift with our home preservation program.
Visit our blog, Home Truths, to learn more about aging in place, stemming displacement and how we can all support long-time residents in growing old where they grew up.
*** bay area census (CA.GOV)