Successfully reported this slideshow.
We use your LinkedIn profile and activity data to personalize ads and to show you more relevant ads. You can change your ad preferences anytime.

Panel #1: Demographic and Economic Considerations for Future Housing Needs

70 views

Published on

Panel #1 Slideshow

Published in: Government & Nonprofit
  • Be the first to comment

  • Be the first to like this

Panel #1: Demographic and Economic Considerations for Future Housing Needs

  1. 1. Housing Options for Older Nebraskans Christopher M. Kelly, Ph.D. UNO Department of Gerontology November 14, 2019
  2. 2. Creating Senior Friendly Communities in U.S. • Locating essential services within walking distance • Providing adequate public transportation • Supporting aging in place (including home modifications)
  3. 3. Home Modifications • Accommodations to physical limitations; goals: improve functioning; enhance safety • Payment sources – Out-of-pocket (e.g. reverse mortgage) – Public (e.g. Medicare, Medicaid waiver) • Key concepts: visitability; universal design
  4. 4. Visitability • Basic accessibility features for residents and guests • Includes a completely accessible main floor, with kitchen, guest bedroom, & half- bath • Zero-Step Entrance
  5. 5. Universal Design • Home is completely accessible for all ages • Features include: – Kitchens: Adjustable height counters, sinks, & appliances – Bathrooms: Adjustable height sinks & toilets; wider shower doors – Access for walkers & wheelchairs
  6. 6. Supportive Housing • Environments for older adults who are mostly self-sufficient • Housing for elders who need some assistance with activities (IADLs) • Examples: Accessory Dwelling Units (ADUs), Congregate Housing, Board-and-Care Homes
  7. 7. Accessory Dwelling Units (ADUs) • Also called “Granny Units” • Can be self-contained units or converted rooms within a house • Allows both independence & family support
  8. 8. Congregate Housing • Public & privately-owned residences with onsite staff & services • Most have separate apartments for each resident • Common areas for meals & recreation
  9. 9. Board-and-Care Homes • Non-medical community-based living arrangements • Provide shelter, food, & supervision (but not long-term care) • Decreasing in number in the U.S.
  10. 10. Naturally Occurring Retirement Communities (NORCs) • Most older adults prefer to age in place • This is dependent on affordable housing and available services • NORCs increasingly developing services on their own
  11. 11. Challenges to NORCs • Older adults are more likely to spend more than 30% of their income on rent • Older homeowners are also cost-burdened – Utilities, maintenance, repairs, insurance, property taxes – Cost about as much, on average, as rent • Advancing age increases likelihood of chronic illness, frailty, and disability
  12. 12. Challenges to NORCs in Nebraska Nebraska faces similar challenges to the rest of the country as well as: • Higher concentrations of residents age 65+ and age 85+ • Higher concentrations of older adults in rural areas • Lower concentrations of healthcare providers in rural areas
  13. 13. Addressing these Challenges • Housing Plus Services • Linking communities with health and supportive services • Creating service-delivery efficiencies – Concentrating at-risk individuals in one location for providers – Minimizing access limitations for older adults – Capitalizing on existing housing staff, who have trusted relationships
  14. 14. References • Carroll, J., & Qualls, S.H. (2014). Moving into Senior Housing: Adapting the Old, Embracing the New. Generations, 38 (1): 42- 47. • Sanders, A. (2019). Housing Plus Services: A Model That Supports the “Whole Person”. Generations, 43 (1): 91-95. • Wacker, R.R., & Roberto, K.A. Housing. Chapter 15 in Community Resources for Older Adults: Programs and Services in an Era of Change (5th edition). Los Angeles, CA: Sage.
  15. 15. Questions Christopher M. Kelly, Ph.D. Associate Professor Department of Gerontology UNO, CPACS 210L 402-554-4124 cmkelly@unomaha.edu
  16. 16. @unocpar @UNOmahacpar #Nebraskabythenumbers Trends in Nebraska’s Housing Market Josie Schafer, Ph.D., Director Jgschafer@unomaha.edu cpar.unomaha.edu/policy
  17. 17. $178,600 $- $50,000 $100,000 $150,000 $133,300 $200,000 2014-01 2014-09 2015-05 2016-01 2016-09 2017-05 2018-01 2018-09 2019-05 Nebraska's Median Sales Price is $178,600 Seasonally adjusted median sales price by month January, 2014 – August, 2019 North Carolina Kansas Nebraska Iowa $250,000 Zillow Research Data - https://www.zillow.com/research /data/
  18. 18. 8.6 6.4 0.0 2.0 4.0 6.0 8.0 10.0 12.0 2014 Q1 2015 Q1 Nebraska’s growth in housing prices is greater than peer states and the national average Percent change year over year, seasonally adjusted housing prices US Iowa North Carolina Kansas Nebraska 2016 Q1 2017 Q1 2018 Q1 2019 Q1 Federal Housing Finance Angey https://www.fhfa.gov/DataTools/Downloads/Pages/House-Price-Index.aspx Urban Institute https://apps.urban.org/features/state-economic-monitor/?cm_ven=ExactTarget&cm_cat=SLFI+- +11.13.2019&cm_pla=VPL+1401+for+List+179&cm_ite=http%3a%2f%2fapps.urban.org%2ffeatures%2fstate-economic- monitor%2f&cm_lm=jbartle@mail.unomaha.edu&cm_ainfo=&&utm_source=%20urban_newsletters&&utm_medium=news-SLFI&&utm_term=TPC&&
  19. 19. >3.01% 6.01% to 7.73% 7.80 %<3.02% to 4.50% 4.51% to 5.98% Nebraska’s housing price increase is currently the 8th highest in the country Change in values 2018 to 2019, seasonally adjusted housing prices
  20. 20. $14,145 $82,809 $55,409 $34,016 $0 $100,000 $200,000 $164,845 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 3.9% On average, Nebraskans’ incomes have increased about 8% since 2006 ranking 7th best in the country Inflation adjusted mean household income. About 145,000 households per quintile, 37,000 in the top 5% Lowest Quintile Second Quintile Third Quintile Fourth Quintile Highest Quintile Top 5 Percent $400,000 Percent change 14.4% $300,000 $280,066 2013 - 2017 American Community Survey 5-year estimates Table B19081, U.S. Census Bureau
  21. 21. 2 2.1 2.2 2.3 2.4 2.5 2.6 2.7 2000 2002 2004 2006 2008 2010 2012 2014 2016 2018 PRICETOINCOME RATIO Omaha has been experiencing an increase in the price of homes relative to incomes Price to income ratio per quarter 2000 Q2 2019 2.8 Zillow.com, quarterly for Omaha MSA
  22. 22. Govnering.unomaha.edu Data from Zillow Home Research
  23. 23. METRO/MICRO COMPOSITE INDEX GROCERY ITEMS HOUSING UTILITIES TRANSPORTATION HEALTH CARE MISC. GOODS AND SERVICES Nebraska 92.3 96.5 84.0 91.2 96.3 99.4 96.1 Lincoln NE Metro 92.4 95.9 77.7 90.3 92.4 105.1 102.5 Omaha-Council Bluffs NE- IA Metro 91.4 96.6 81.0 99.2 101.2 95.9 93.1 The Council for Community and Economic Research; Cost of Living Index 2019 Q2 Nebraska ranked 17th among states for cost of living Omaha ranks 163 and Lincoln 169 of 297 ranked communities on the cost of living index 2019 Quarter 2 Note: According to the Bureau of Labor, typically housing is more expensive in urban areas; while transportation, and healthcare are more expensive in rural area
  24. 24. U.S Census, ACS. 2016
  25. 25. Governing.unomaha.edu Data from U.S Census Bureau
  26. 26. The University of Nebraska does not discriminate based on race, color, ethnicity, national origin, sex, pregnancy, sexual orientation, gender identity, religion, disability, age, genetic information, veteran status, marital status, and/or political affiliation in its programs, activities, or employment. 0180PPTCPACS1118

×