Housing Resources for Seniors in Colorado
January 17, 2025
Colorado's rapidly aging population necessitates extensive and accessible housing resources tailored to seniors' unique needs. By 2030, one in five Coloradans will be over 65, increasing demand for housing. The senior housing inventory is expected to grow by only 4.1% by 2025, which is insufficient to meet demand. Nonprofit organizations like Senior Housing Options provide affordable housing and support for low- and moderate-income older adults. However, challenges persist, including high housing costs and limited accessible housing units. Exploring innovative strategies and community solutions can help address these shortages and better support Colorado's aging population.
Key Takeaways
- Senior Housing Shortage: Colorado's senior housing inventory is expected to grow by only 4.1% by 2025, insufficient to meet the increasing demand.
- Accessibility Challenges: Only one-third of homes in Colorado feature zero-step entryways, and less than 1% of U.S. homes are broadly wheelchair accessible.
- Financial Assistance: The Home Modification Tax Credit provides up to $5,000 annually for necessary adjustments, available to individuals with an adjusted family income at or below $150,000.
- Nonprofit Support: Organizations like Senior Housing Options (SHO) offer affordable housing and support for low- and moderate-income older adults, emphasizing resident-centered culture.
- Funding Issues: High housing costs strain low and middle-income seniors, with federal housing funding historically declining since 1980, leading to affordable housing shortages.
Demographics and Trends
Colorado is on the cusp of a significant demographic shift, with the older adult population expected to surge by 70% over the next two decades. This growth is part of a broader national trend, where the first Baby Boomers will turn 80 in 2025, and an estimated 65-70 million people will reach this age in the next decade. In Colorado, this demographic change will have profound implications for housing, as older adults are staying in their homes longer, impacting the housing used for workers versus retirees.
The state's population is expected to grow to 7.5 million by 2050, with the biggest segment being older adults. However, Colorado has not kept pace with new senior housing units, leading to a shortage. The total senior housing inventory is expected to grow by only 4.1% by 2025, which is half of the projected demand growth. This gap between new supply and demand continues to grow, highlighting the need for more affordable housing options and innovative solutions like repurposing obsolete office buildings for senior housing. The senior housing sector faces significant challenges in meeting the needs of this rapidly growing population. Public-private partnerships are crucial in addressing this shortage, leveraging innovative funding models to expedite construction and cater to a broader spectrum of older adult needs and affordability considerations.
The national senior housing occupancy rate has been increasing steadily, reaching 86.5% in the third quarter of 2024, with occupancy rates forecasted to rise further in the coming years.
Accessibility Issues
The accessibility of housing in Colorado poses significant challenges for seniors, particularly those with disabilities. Only one-third of homes in the state have zero-step entryways, and less than 1% of U.S. homes are broadly wheelchair accessible, highlighting a critical shortage of accessible housing options. Additionally, nearly one in four older adults could benefit from home modifications they do not yet have, underscoring the need for targeted interventions to enhance housing accessibility. By 2050, Colorado's over-65 population is projected to nearly double, further emphasizing the urgency to address these accessibility issues. Affordable housing initiatives, such as those supported by Colorado Housing and Finance Authority, are crucial in addressing these accessibility challenges by providing financial resources for the development of accessible housing options.
Accessible Housing Shortages
Amidst the broader housing crisis, individuals with disabilities face particularly intimidating challenges in securing accessible and affordable housing. In Colorado, the shortage of accessible housing units is stark, with only 2,376 accessible places available for those with disabilities. This scarcity is compounded by the fact that less than 1% of housing nationwide is accessible to people who use wheelchairs. Additionally, Colorado lacks data to quantify its accessible housing compared to national numbers, making it difficult to assess the full extent of the problem.
The barriers to accessible housing are multifaceted. Buildings not accessible to people with disabilities pose a significant challenge, and housing discrimination against people with disabilities remains a problem despite laws such as the Fair Housing Act and Section 504 of the Rehabilitation Act. Finding an affordable and accessible place is nearly impossible for most individuals with disabilities, leading to higher rates of housing insecurity. This underscores the need for legislative and growth efforts, such as HB23-1302, which updates housing construction rules to match ADA guidelines, ensuring more accessible homes.
Over one-third of Coloradans spend more than 30% of their income on housing, further exacerbating the challenges faced by individuals with disabilities in securing affordable and accessible housing. Colorado's commitment to accessible housing is evident in its history, as it was one of the first states to enact fair housing laws, starting as early as 1959.
Home Modification Needs**
For many individuals with disabilities and seniors, home modifications are essential to guarantee safe and accessible living environments. The Home Modification Tax Credit, available in Colorado, provides financial assistance to make these necessary adjustments. Eligible individuals must have an adjusted family income at or below $150,000 for the 2019 tax year, with adjustments for inflation in subsequent years. The tax credit covers the cost of home modifications necessary for health, safety, and welfare due to disability, illness, or impairment.
Common modifications include installing stability handles, wheelchair ramps, widening doorways, and adding ramps to home entrances. Bathroom modifications such as grab bars and walk-in/roll-in tubs and showers are also vital. Stair lifts, flooring modifications, and kitchen modifications like pull-down shelves and accessible countertops are important for enhancing mobility and independence. The Home Modification Tax Credit is capped at $5,000 per qualified individual per year, with a total annual cap of $1 million. This program helps seniors and individuals with disabilities in Colorado live independently and safely in their homes. Eligible modifications must meet specific construction specifications and be completed in the tax year for which the credit is claimed. The application process involves submitting detailed documentation, including before and after photos of the modifications, to ensure compliance with the program's requirements Application Process. Early planning and coordination with professionals, such as Certified Aging in Place Specialists, are crucial for effective home modifications.
Nonprofit Organizations
Nonprofit organizations play an essential role in providing affordable and supportive housing for seniors in Colorado. Senior Housing Options (SHO) is a notable example, offering residential communities and caring services to enrich the lives of older adults in the state.
SHO serves low- and moderate-income older adults and adults with disabling conditions, providing a range of facilities including assisted living and affordable housing apartments in Cortez, Denver, Longmont, and Parachute. The organization promotes a resident-centered culture that honors individual choices and promotes dignity of the individual. SHO has been committed to serving the community for 45 years, highlighting its long-standing dedication to affordable housing solutions. The application process for subsidized housing typically involves a waiting list, with applicants being notified when their name reaches the top of the list to complete additional paperwork and undergo an interview, including a credit and criminal background check.
Key Services and Features of Senior Housing Options
| Service | Description | Eligibility |
|---|---|---|
| Assisted Living | Affordable rates, Medicaid (HCBS) and Innovage accepted | 55 and older or adults with disabilities |
| Subsidized Apartments | Low-income apartments subsidized by the Federal government | Income limits set by HUD, 50/60% AMI |
| Community Integration | Resident-centered culture, supportive services | Application and waitlist process |
SHO collaborates with various community partners and receives support from corporate, foundation, and individual donors. The organization continuously recruits qualified employees to join their team and encourages volunteers to support their residents.
Permanent Supportive Housing
Permanent Supportive Housing (PSH) offers a thorough solution for seniors and other vulnerable populations by combining affordable housing with intensive supportive services tailored to individual needs. This approach has demonstrated significant benefits, including a 94% success rate in maintaining permanent housing after one year and long-term cost savings for the State of Colorado. However, despite these benefits, PSH programs often face funding challenges, highlighting the need for sustained financial support to guarantee the continued availability of these critical housing resources. The Ithaka Senior Transitional Housing Program, for example, provides transitional housing and supportive case management to help seniors connect with healthcare resources and pursue permanent housing options, with residents paying 30% of their income in rent.
Program Benefits
A significant body of research underscores the effectiveness of Permanent Supportive Housing (PSH) in providing stable, long-term housing solutions for seniors and disabled adults. PSH programs offer extensive support services tailored to the needs of residents, including intensive case management, healthcare coordination, and links to community resources. This holistic approach not only improves the overall health and well-being of participants but also fosters long-term housing stability and reduces homelessness.
Key benefits of PSH programs include:
- Stable Housing: Long-term, affordable housing solutions that address chronic housing challenges.
- Health Improvements: Access to healthcare resources and coordination services that enhance overall health and well-being.
- Community Integration: Programs often include transportation assistance and links to community resources, promoting social integration and independence.
The Housing First approach, which prioritizes immediate housing placement and then provides supportive services, has been particularly effective in ending homelessness for high-risk individuals. PSH programs specifically target individuals who are at risk of homelessness and have high housing barriers, making them a crucial resource for vulnerable populations.
Funding Challenges**
Despite the proven effectiveness of Permanent Supportive Housing (PSH) in providing stable, long-term housing solutions for seniors and disabled adults, securing adequate funding remains a significant challenge. The decline in federal housing funding since 1980 has led to a substantial shortage of affordable housing, particularly for low and fixed-income households.
Historically, Colorado lacked a sustainable source for affordable housing funding until 2019, resulting in a vast shortage of available and affordable homes. Recent investments, such as the American Rescue Plan Act (ARPA) funding and Proposition 123, have provided substantial but insufficient funds to fully meet the housing needs of these households. The Housing First approach, which emphasizes immediate housing access without pre-determined requirements, has been shown to be particularly effective in addressing homelessness. Projects like Solid Ground Apartments in Lakewood, Colorado, demonstrate the success of this model by providing permanent housing to individuals experiencing homelessness without stringent requirements, specifically targeting those cycling through jails and emergency services through trauma-informed design.
Funding Sources for Permanent Supportive Housing
| Funding Source | Description |
|---|---|
| American Rescue Plan Act (ARPA) Funding | $650M in one-time funding for affordable housing and homelessness resolution and prevention. |
| Proposition 123 | Expected to generate $300M per year for housing affordability and homelessness prevention and resolution. |
| National Housing Trust Fund (HTF) | Colorado received roughly $10M in 2022 for creating, rehabilitating, preserving, and operating rental housing for extremely low-income households. |
| Housing Choice Voucher Program | Federal government's primary program for assisting very low-income families, older adults, and people with disabilities. |
| State Unclaimed Property Trust Fund | Potential for $30M annually for the Housing Development Grant Fund, contingent on fiscal conditions. |
Strategic distribution of these funds is essential to address communities' needs, focusing on historical barriers and the lowest incomes. However, current funding sources are insufficient, and time-limited funds like ARPA must be spent by 2026, creating a time constraint for effective allocation.
Independent Living
In Colorado, independent living for seniors encompasses a range of residential settings designed to support individuals aged 62 and above who wish to maintain their independence while having access to supportive services as needed. These communities provide a carefree lifestyle by offering maintenance, landscaping, cleaning, linen services, and 24/7 concierge services.
Key features of independent living communities in Colorado include:
- Comprehensive Services: Maintenance, landscaping, cleaning, and linen services are provided to guarantee a hassle-free living experience.
- Amenities and Activities: Outdoor facilities like hot tubs and putting greens, as well as indoor spaces for various activities, are available to promote active living. Dining experiences are also enhanced with onsite restaurant and grab-and-go bistro options that cater to diverse dietary needs and preferences.
- Transportation Services: Complimentary scheduled transportation services are often available for local outings, medical appointments, and shopping.
Organizations like Senior Housing Options offer a variety of housing and care services across Colorado, including assisted living apartments with Medicaid and private pay options. These services are essential in addressing the housing challenges faced by older adults in Colorado, including affordability and accessibility. By leveraging multiple financing sources and applying universal design principles, communities can work towards providing more accessible and affordable housing options for seniors. Senior Housing Options has been dedicated to serving Colorado's older adults for over 45 years.
Community Solutions
Community solutions play a pivotal role in addressing the housing challenges faced by older adults in Colorado. Organizations like Senior Housing Options (SHO) utilize income-based subsidies to provide affordable housing options for older adults and adults with disabilities. Federal government subsidies, such as Project-Based Section 8 rental assistance, are vital for maintaining these affordable housing options. Many of these communities have income limits at or below 50/60% of the area median income (AMI) and calculate rent based on 30% of a household's monthly gross income.
Service coordination is another critical component of community solutions. It helps residents connect with necessary resources, such as health services and doctor appointments. Organizations like Metro West Housing Solutions and Grand Junction Housing Authority fund service coordinators to assist residents. Additionally, accessible housing options are essential for ensuring older adults can stay in their communities. Organizations like SHO focus on providing accessible housing options, such as properties in Estes Park Housing Authority and Loveland Housing Authority, which often have specific eligibility criteria based on age and disability status.
Senior Housing Challenges
Senior housing challenges in Colorado are multifaceted and deeply intertwined with broader societal issues. The state's housing shortage particularly hurts low and middle-income seniors, forcing them to make difficult choices between housing expenses and other necessities. For instance, only 15% of Coloradans over age 62 report that affordable, quality housing is available in their community, while 27% of older Coloradans are housing cost-burdened, with 13% being severely burdened.
Key challenges include:
- *Housing Affordability*: High housing costs relative to income, with the average cost of assisted living facilities ranging from $1,752 to $8,700 per month.
- *Housing Accessibility*: Inaccessible housing and communities for those with functional limitations or disabilities, with 80% of older adults wanting to remain in their community but needing accessible housing options.
- *Housing Shortage*: A critical lack of affordable housing, particularly in mountain communities and Denver and Teller counties, where only 4% of seniors report having access to affordable housing.
These challenges underscore the need for thorough solutions that address affordability, accessibility, and availability of senior housing in Colorado. El Paso County is actively addressing this issue by investing $500,000 in a new senior housing development, highlighting the importance of community partnerships in tackling the housing crisis. The Colorado Senior Resource Guidebook offers a comprehensive resource for navigating these challenges by providing detailed information on various housing options, including independent living, retirement communities, and assisted living facilities.
Future Housing Needs
The future of senior housing in Colorado is marked by a pressing need for increased availability and affordability. By 2030, one in five Coloradans will be over the age of 65, necessitating a significant increase in senior housing units. The U.S. will need an estimated 549,000 additional senior housing units by 2028 and 806,000 by 2030 to meet the demand of the aging population. In Colorado, the senior population is expected to balloon by 36 percent over the next decade, further emphasizing the need for expanded housing options. This growth is primarily due to the aging in place of Colorado's existing population.
To address this demand, innovative strategies such as infill projects and adaptive reuse of obsolete office buildings are being explored. These projects can provide affordable and thoughtfully designed housing options for seniors. For example, MGL Partners is working on repurposing an outdated office building into 50 new affordable housing units for older adults in a largely residential neighborhood. Such initiatives are essential in bridging the gap between aspiration and reality in providing affordable senior housing. Ensuring high care standards while maintaining affordability remains a critical challenge that policymakers and providers must address.
Frequently Asked Questions
How Do I Find Affordable Senior Housing Options in Colorado?
To find affordable senior housing options in Colorado, contact local Housing Authorities for Section 8 vouchers, explore nonprofit organizations like Senior Housing Options, and review lists of subsidized housing and reduced rent apartments provided by counties such as Larimer.
What Financial Assistance Programs Are Available for Senior Housing in Colorado?
Contrasting with the high costs of senior housing, Colorado offers several financial assistance programs, including Health First Colorado (Medicaid) for nursing facility care and in-home support, Old Age Pension for monthly stipends, and subsidized housing programs like Project Based Section 8 and Housing Choice Voucher.
Can I Modify My Home to Make It More Accessible for Aging in Place?
Home modifications can be made to enhance accessibility for aging in place through various financial assistance programs, including Medicaid Waivers, nonprofit grants, home equity loans, and personal loans, tailored to individual needs and budgets.
How Do I Qualify for Permanent Supportive Housing Programs in Colorado?
Unlike traditional housing options, Permanent Supportive Housing (PSH) programs in Colorado require applicants to have a verified disability and meet specific income thresholds, generally at or below 50/60% AMI, to qualify for long-term housing assistance and supportive services.
What Resources Are Available for Seniors Facing Housing Emergencies in Colorado?
Seniors facing housing emergencies in Colorado can access resources such as the Property Tax & Rent Relief Program, Catholic Charities, Silver Key Senior Services, and HUD Information for Senior Citizens for assistance with rent, housing, and supportive services.