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Factoids

Factoids offer brief snapshots of current topics pertinent to the Furniture industry based on our on-going research. Increase your grasp of current trends, consumer attitudes, and shifts within the industry through solid statistics and concise insight.

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Factoids

Aging in Place: Seniors Over 65 Want to Stay Where They Are



This is the second in a series of four factoids exploring the growing trend among seniors called “Aging in Place.” On average, 10,000 people are turning 65 every day. By 2030, one in five people will be 65 and over. Now facing decisions on where and how to spend their aging years, a majority of these early Baby Boomers want to stay in their homes.

This has spawned an entire remodeling industry that includes construction to modify and retrofit homes for safety and convenience as well as interior design geared to the aging – including furniture, flooring, and lighting.

According to a 2014 survey by the American Association of Retired Persons (AARP) depicted on Table B, nearly 90 percent of seniors want to stay in their own homes as they age. When asked if they preferred to stay in their homes even while needing day-to-day assistance or ongoing healthcare during retirement, 82 percent answered yes. Only 9 percent actually prefer to move to a retirement or assisted living community and 4 percent opt for moving to a relative’s home.

Results of the U.S. Aging Survey by the National Council on Aging show that 58 percent of householders over the age of 60 have not changed residences in more than 20 years. 75 percent say they intend to live in their current home for the rest of their lives and many have already began home improvements. Thirty-four percent have made bathroom upgrades and 28 percent have improved lighting. Seniors are methodically using their money to ensure independence and safety in their retirement years.

Source: American Association of Retired Persons (AARP) 2014 Survey





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