01658006

Component

The American population continues to mature with an impending ‘aging tsunami’ just a few years away. It is projected that by 2050, the number of Americans sixty-five years old or older will increase to more than 83 million, nearly double its current population of 43 million (1). The objectives of this study were to determine the current state of aging in place in small urban and rural settings throughout the country and quantify the costs for residents to live at home and ride public transportation versus moving to an assisted living facility. Overall, simulation results showed that the cost of assisted living was almost always higher compared to other alternatives. Homeowners without mortgages had the lowest costs followed by apartment dwellers and homeowners with mortgages. Policy makers should consider the potential cost savings from aging in place found in this study. Seniors and their families can potentially save thousands of dollars annually by remaining at home and utilizing home health and public transportation services. Also, because 90 percent of older adults want to age in place while 80 percent plan to live out their lives in their current homes, (2), the emotional cost of moving before it is entirely necessary should also be considered. Change can be difficult, especially for seniors who have often lived for decades in the same small urban or rural community and highly value their friends and available services.

This paper was sponsored by TRB committee AP055 Standing Committee on Rural Public and Intercity Bus Transportation.

18-01226

English

16p

2018

Transportation Research Board 97th Annual Meeting

Print

Figures; References; Tables

Aged; Aging (Biology); Costs; Dwellings; Health care facilities; Public transit; Rural areas; Simulation; Urban areas

United States

Economics; Public Transportation; Society

Transportation Research Board Annual Meeting 2018 Paper #18-00261

TRIS, TRB, ATRI

Jan 8 2018 10:18AM