There are currently approximately 2.3 million households with a householder over the age of 65 residing in the state of Florida. This represents 30 percent of the state’s households, compared to a 25 percent rate nationwide. The total number of households with a householder 65 years and older in Florida is projected to increase to nearly 4.2 million in 2040, and account for 38 percent of the households in the state.

In addition to an increasing number of households aged 65 and older, the number of cost-burdened renter older households (households paying 30 percent or more than their income for rent) is also projected to increase. The total number of cost-burdened renter older households will nearly increase from approximately 205,000 in 2015 to approximately 372,000 in 2040.

As the number of people aged 65 and over in Florida continues to increase over the coming years, there will be an increased need for both the preservation and construction of additional affordable housing for this population.