Although the share of seniors moving in with relatives has been on the rise in recent years, those living in areas with large senior populations are more likely to opt for community-style living, according to a Trulia Trends post.
The share of seniors age 65 and older living with their relatives has grown in the past 20 years, according to data compiled by The Current Population Survey’s American Social and Economic Supplement (ASEC).
In the years 1994-1998, the share of seniors living with relatives was 6.6%. In 2013, the figure has grown to 7.3%.
But the rise in seniors living with relatives is not due to the recession, rather, it’s because of demographic shifts, writes Trulia’s Chief Economist Jed Kolko.
The share of seniors who are age 80 or older grew from 22% in 1994 to 25% in 2013, Kolko writes.
There was also no significant difference between more and less expensive housing markets in seniors’ decision to move in with relatives, however, seniors were more likely to live on their own in areas that have a strong age 65 and older population.
“After adjusting for demographics, seniors were less likely to live with relatives in metros where more of the population is 65 and older—instead, they’re more likely to live on their own,” writes Kolko.
Living on your own doesn’t necessarily mean living alone, as senior-heavy populations have more living options available to them, often in the forms of senior communities, independent-living housing and other services that cater to seniors.
“This is a reminder that as the population ages, developers and other businesses will have a stronger incentive to create communities and services that give more seniors the choice to live on their own if they want,” writes Kolko.
Another reason is that metros with large senior populations, such as Florida cities like Sarasota and Fort Meyers, are retirement destinations that seniors move to, meaning they might not have local relatives to live with even if they wanted to.
Demographics can also affect which seniors live with their children or other relatives depending on age.
Older seniors between ages 80-84 and seniors age 85 and older are 10% and 15% more likely to live with relatives than younger seniors aged 65-69 who were just 6% as likely.
Additionally, 11% of women aged 65 and older live with their relatives, compared to 5% of men in the same age group, which Kolko suggests could be because women live longer.
Whether or not seniors are likely to live-in with their relatives can also be a cultural phenomenon, differing between the living habits of American-born and foreign-born elders.
Among foreign-born seniors, 25% live with relatives, whereas 6% of American-born seniors do the same.
Seniors originally from countries like India and Vietnam, where seniors are 47% and 44% likely to live with relatives, respectively, have a greater likelihood of living with relatives than the U.S. and Canada, where seniors are 6% and 5% as likely.
Growing demographic shifts could impact the future of housing, especially for models like multi-genertational living that have, as the name implies, members of varying generations living under one roof.
“As people live longer, and if the share of foreign-born seniors continues to rise, we could see an increasing share of seniors living with relatives—and more demand for homes that can accommodate multi-generational households,” writes Kolko.
Written by Jason Oliva