Finding affordable housing, particularly in major cities, has become a major issue for the elderly. Now, they are getting roommates. In New York City, the Home Sharing Program is billed to help seniors with affordable housing as well as putting more money in people’s pockets in the form of rent.
The average apartment in New York City is $3,800 per month. Currently, there are approximately 1.6 million adults in New York City that are 60 or older. This is 19.2 percent of the population, which obviously causes a problem in affordable housing for the elderly. These numbers will only continue to grow, expounding the problem of affordable housing for the elderly. By 2040, 1 in 5 New Yorkers will be over 60, thus the creation of the Home Sharing Program.
The Home Sharing Program helps people looking for housing and pairs them with compatible people who have rooms available for rent. The City recently expanded the program to help even more elderly with affordable housing by giving a $1.4 million increase in the Program’s budget.
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