OKPOLICY.ORG
Retirement should be a time of financial stability and a time to enjoy the fruits of a lifetime of work, but for many seniors, retirement comes with housing insecurity and homelessness. Without prompt action, this worrisome trend will become more severe and more older Oklahomans will become homeless.
The number of older Oklahomans is growing; the number of residents 60 years and older has increased over 20 percent in the last decade. The declining income and increasing health issues that come with age mean more Oklahoma seniors struggle with housing. Oklahoma renters over age 65 are increasingly struggling to pay rent. As a result, senior homelessness is on the rise, representing about 1 in 5 of the Oklahomans who are unhoused. Both federal and state policymakers need to address growing senior housing instability through rental assistance that meets demand, zoning ordinances that allow for more diverse housing to be built, and investments in affordable housing development.
Seniors are struggling with housing and financial security
Traditionally, retirement is thought of as the golden years – a time of stability due to a house that is paid off, retirement savings to comfortably cover life expenses, and flexibility to enjoy life after a long career. However, for a growing segment of Oklahoma seniors this is far from reality. Oklahoma has the nation’s sixth-highest rate of seniors who feel pressured to move due to rent increases, which is about 1 in 5 Oklahoma seniors. Among Oklahoma seniors, 11.7 percent – not quite 1 in 8 – live in poverty. Increasingly, for older Oklahomans, the golden years are a fairy tale without a happy ending.
The need for rental assistance among Oklahoma seniors is great, but most seniors who are eligible for housing assistance – most often through a Housing Choice Voucher – don’t receive one. In 2022, about 68,000 Oklahoma renter households headed by seniors reportedly fell below the income requirement for a Housing Choice Voucher. However, as of 2023, only about 25,000 Housing Choice Vouchers were in use in Oklahoma and only 27 percent of those were used by people 62 years of age or older. Put another way, for every Oklahoma senior with a Housing Choice Voucher, nine more Oklahoma seniors are eligible but can’t get one. Although federal housing support programs, including Housing Choice Vouchers, have been underfunded for decades, state lawmakers could help fill the gap with state-based rental assistance programs as offered in other states like Alaska, Georgia, Wisconsin, and Missouri.
Oklahoma also needs more diversity in housing choices to meet the needs of older adults. Seniors may want to downsize to save money or reduce the amount of house they have to take care of. For example, they may want to continue living in a single-family house independently, but need a single-story house or one with a smaller yard. Similarly, older adults frequently have challenges entering, navigating, and using their homes as they age. However, housing that is both affordable and has the proper modifications that allows seniors to safely navigate their homes is in short supply.
Accessory dwelling units such as garage or basement apartments, multifamily housing like townhomes or apartments, and cohousing communities can help older adults continue to live in their communities instead of moving to assisted living or nursing home facilities. But with cities overwhelmingly prioritizing detached, single-family homes, these types of housing are often prohibited by local zoning laws. Both local and state leaders can loosen zoning restrictions to allow for more diverse types of housing to be built. State lawmakers can also follow the lead of other states that offer aid to eligible older adults for accessibility modifications, including the construction of accessory dwelling units.
Oklahoma renters over 65 are the most cost-burdened age group
Rapid increases in rent are also contributing to more seniors facing homelessness. Oklahoma seniors are now the group of renters who struggle the most with rising costs. More than half of Oklahoma renters over 65 spend more than 30 percent of their income on housing. Young adults under age 24 in the state are nearly as likely to be cost-burdened for housing. While young people are often only just establishing careers and families, seniors have spent a lifetime doing both – and wind up nearly as cost-burdened.
In short, retirement income is simply not keeping pace with rising housing costs. Forty percent of older Americans rely solely on Social Security for their income. In 2023, the median rent in Oklahoma was $1,020 per month while the maximum Social Security Income payment for an individual was $914 and $1,371 for a couple. That leaves very little – if anything – for other life expenses. This mismatch means seniors increasingly struggle to pay rent, and as a result are a growing segment of the homeless population.
Without solutions, Oklahoma seniors will increasingly face housing instability and homelessness
Homelessness is on the rise among older adults. Nationally, people 50 or older are the fastest-growing group of people experiencing homelessness. In 2024, 19 percent of people experiencing homelessness in Oklahoma were over the age of 55.
Age-related changes in income, health, and community exacerbate risks of homelessness. Circumstances that can cause seniors to lose their housing include death or illness of a family member, a health crisis, a new disability, and barriers to employment such as ageism. These challenges make it important to support our seniors with appropriate, available, and affordable housing. Otherwise, senior homelessness will continue to grow.
Oklahoma lawmakers face urgent needs to address challenges facing our aging population
Most people see retirement as a time to settle down and enjoy financial stability. But, a growing number of Oklahoma seniors are facing harsh realities of new financial stress and housing instability. As our population ages, policymakers need to address the unique housing challenges that our seniors face. A good place to start will be increased financial support for rent and housing modifications, along with more appropriate and affordable housing options.
