Where am I going to live when I retire? And more important: Where can I afford to live when I retire? As housing costs soar, these are among the top questions retirees and near-retirees grapple with as they transition out of paid work and into a life on a fixed income. It’s a particularly tricky issue for the so-called “forgotten middle” of the senior housing market—those who make too much to qualify for Medicaid and those who can’t afford traditional senior living.
By 2029, there will be 14.4 million middle-income seniors, 60% will have mobility limitations and 20% of whom will have high healthcare and functional needs, according to the National Investment Center for Seniors Housing & Care (NIC), which coined the term “forgotten middle.” Many will need the level of care provided by traditional senior housing, but 54% will not have the money to pay for it, NIC estimated. To address this market, 2Life Communities will break ground in about a month on a $155 million development that caters to this demographic. “We’re zealots that this is what leads t …