Within the past 20 years, the percentage of older adults living in nursing homes has declined while the percentage of older adults living in traditional housing has increased. However, the U.S. Census Bureau estimates that only 10% of American homes are “aging ready,” which means there is ample opportunity within the remodeling market to address this gap.
Older homeowners complete a broad range of projects, spanning accessibility upgrades, core systems, structural reinvestment, and outdoor improvements—often undertaking more projects and higher total spend, according to our Aging in Place Study. Understanding how and why homeowners are adapting their living spaces to support accessibility, mobility, and long-term independence is crucial for manufacturers, suppliers, and remodeling professionals. By examining the motivations behind home modifications, the types of projects being completed, and the outcomes of these investments, your teams will gain valuable insight into the evolving needs of aging and multigenerational households to inform your strategic decision-making.
The home improvement market is shaped by shifting demographic pressures, evolving household needs, and the extended length of time homeowners are choosing to stay in their homes. The aging-in-place remodeling market is one area where several of these factors collide. Not only are homeowners increasingly aware of planning for a comfortable, convenient and accessible living environment for their later years in life, but multigenerational living and the development of accessory dwelling units (ADUs) is becoming more common across age groups. Here are some of the reasons to consider incorporating aging-in-place projects and products into your strategic roadmap in a more meaningful way:
While older adults demonstrate a desire to age at home, the current housing inventory in the U.S. is not ready to meet the demand. A significant number of homes require improvement activities to enhance safety and access, as well as to meet mobility needs—the tops reasons why homeowners undertake aging-in-place projects. For nearly half of homeowners, declining physical health drives most home modification projects. But there is an opportunity for home improvement brands to change the narrative and encourage more proactive remodeling, rather than waiting until it’s an urgent situation.
Demand for aging-in-place renovations is rising, with about three-fourths of remodelers reporting an increase in requests over the past five years for features that support comfort and quality in life as residents get older. Additionally, according to findings in our Generational Differences in Home Improvement Activity Study, one-quarter or more of homeowners across age demographics completing home improvement activities and upgrades related to aging in place during the study period. Bathroom upgrades and safety improvements are the most popular types of activities within this project category. Some of the most in-demand products and features include:
Manufacturers and retailers should emphasize products and solutions that support long-term independence, positioning accessibility as proactive planning rather than reactive necessity.
Spouses remain the primary influencer when it comes to aging-in-place projects, with other non-spouse family members also having substantial pull. This coincides with a growing trend toward multigenerational living and ADU development, which suggests that the influence from adult children and aging parents may continue to rise. Looking forward, shifting living arrangements could diversify the housing landscape, with several factors driving multigenerational home buying and remodeling, such as the need to care for aging parents, costs savings, a desire to spend more time with parents, and adult children and other relatives moving in. In any case, with the nature of these projects, you have the opportunity to build relationships and brand loyalty among not only older homeowners, but the other individuals involved in motivating and influencing their aging-in-place project. If they have a positive experience with your company for these projects, they will be likely to consider your brand when conducting other home improvements, for themselves or their family members, in the future.
Older homeowners increasingly prioritize long-term investments into their properties. Data from Shovels, included in our Aging in Place Study, shows that this demographic, on average, acquires more permits than their peers from other age demographics in nearly every project category, such as:
Core systems
Structural and major modifications
Exterior and outdoor living
Interior living
Additionally, homeowners who undertake aging-in-place projects tend to complete more total renovations and spend significantly more, especially in higher-cost tiers, like the $5,000 to $9,999 range and the $10,000 to $24,999 range.
Because aging-in-place projects run the gamut from small interior and exterior improvements to major renovations and structural reinvestment, there is the opportunity to bundle various accessibility features with adjacent system, exterior, and durability upgrades, encouraging larger project scopes and higher-ticket purchases. As part of your messaging, communicate with older adults the value of proactively pursuing multiple upgrades and enhancements in a single project, wholistically, rather than a piecemeal fashion that takes longer and will probably be more expensive for the homeowner in the long run. This not only benefits them and helps them more effectively prepare for the future, but it can increase the revenue you gain from each individual project.
Another reason to factor aging-in-place remodels and renovations into your strategic planning as a brand is that these types of projects deliver a high rate of customer satisfaction, particularly for improvements that enhance mobility, safety, and low-maintenance living. That’s because aging-in-place improvements and feature positively impact individuals’ ability to live independently, mobility, safety, accessibility, social interaction at home, and overall comfort. Getting to play a larger role in this remodeling sector can benefit your brand health and perception as you contribute to a high level of customer satisfaction.
As the U.S. population ages, homeowners are increasingly seeking ways to remain safe, comfortable, and independent in their homes for as long as possible. Manufacturing brands and suppliers have an opportunity to expand their foothold in this growing market with the right approach to strategic planning and marketing. As a member of the Home Improvement Research Institute (HIRI), you have access not only to our Aging in Place Study, but other exclusive research and insights to keep you ahead of the curve.