Selling a home right now can be challenging for any homeowner due to limited inventory and rising home prices. For Baby Boomers who are looking to downsize, the housing market could prove to be even more challenging as many homes do not meet the criteria of aging in place. According to online real estate marketplace Opendoor, the Baby Boomer generation owns about 32 million homes in the U.S., but less than 40% of homes have basic features for aging, such as step-free entryways and bedrooms on the first floor, among other features. While this is the case across most of the U.S., some cities have more aging-friendly homes to offer than others. In a list of the top aging-friendly housing markets, many Texas metros secured the top spots, with San Antonio ranking first, followed by Houston and Dallas.
There is an extreme shortage of aging-friendly homes in the U.S. A whopping four million older households report difficulty living in or using their home. Nearly half (46%) of homes require occupants to climb or descend at least one step to enter.
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