Thursday, September 15, 2011

Elder economic security: Half of Coloradans age 65 and older must pay a mortgage or rent

The cost of housing remains a major factor in household budgets for Coloradans age 65 and older. An estimated 31 percent of households in that agegroup have a mortgage to pay, and 20 percent are renters. A mortgage or rent dramatically increases the cost of living for elders, but those differences among households aren't accounted for in conventional measurements of economic security.

For more insights on the true cost of living for elders in Colorado, including estimates for each of the state's 64 counties, check the Elder Economic Security Standard Index for Colorado.

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