Money Matters: A growing way to save on housing costs

June 21, 2019 11:00

Housing prices are on the rise. Both home costs and rents are increasing, and affordable housing is increasingly tight, especially in urban areas across the country.
 
Find data about home prices here and about rent prices here.

At the same time, the population is aging. Older populations face higher and growing medical costs and are at higher risk of mental health and safety challenges related to loneliness.

Meanwhile, the younger generations currently venturing out on their own for the first time are facing higher student debt than ever and, while the job market is strong, stagnant wages.

Put these three puzzle pieces together and you’ll notice a new trend of housing programs and services matching older and younger people as roommates.

Online services that help match those looking for housing with those with rooms for rent can be a way for the most rent-burdened older and younger generations to save money (or earn some) and to find community and companionship. 

It’s even been tried by universities.

Do a quick search for senior home sharing services in your community.  If housing is tight or rent prices are high, you’ll likely find both seniors and young people taking advantage of the unique housing arrangement. 

It’s an opportunity for a fun story about friendship – and includes important insights on saving money for both your younger and older audiences.
 
Enter your consumer finance stories for the RTDNA/NEFE Personal Finance Reporting Awards

Three winners  – representing digital, radio and TV news – will each receive:
  • A $1,000 prize
  • Complimentary registration to the Excellence in Journalism 2019 conference in San Antonio
  • Travel and hotel expenses
  • The opportunity to present your winning work at a conference session
Entries are due July 18.
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