A recent report from the Urban Institute said that over the next few decades, rural areas will see more growth in the 65-and-older population than urban areas.
MarketWatch reports that to accommodate the wave of older Americans, rural areas will need to update its aging housing stock and increase training and capital for rehabilitation projects. Many seniors will wish to downsize into newer homes.
“The number of aging homes that are good candidates for rehabilitation is expanding much faster than new households throughout rural America, making this rehabilitation need urgent,” the report said.
A 2016 report on aging in place found that 61 percent of homeowners 55 and older intend to remain in their current homes indefinitely.