For singles and couples in their 50s and 60s, affordable housing is increasingly difficult to find in many areas. Yes, they are in their prime earning years — but few have enough saved for retirement, and those grappling with layoffs, health problems or simply low earnings may find themselves facing down high rents, high interest rates and more.
Living alone in a single-family house is challenging — financially and logistically — and apartments are increasingly pricey as well. From 2000 to 2022, median home prices increased 156% nationwide, while median rent prices increased 90%, according to Real Estate Witch. Are there other options?
Think small, or shared
Two alternatives to single-family houses and apartments are becoming better known: microunits and co-living. Both address housing affordability problems with major trade-offs; in return for lower costs, you give up…
