10 Million Older Americans Face Poverty Despite Housing Wealth

A new AARP Foundation analysis is drawing attention to a difficult housing reality for many older Americans: owning a home, or living in a country with large amounts of senior housing wealth, does not always mean an older adult has enough cash to meet daily needs.

In a Sept. 15, 2026 statement responding to new Census data, AARP Foundation said more than 10 million adults age 65 and older were below the Supplemental Poverty Measure in 2025. The finding is national, not specific to Schaumburg or Illinois, but it matters to communities everywhere because housing costs are a major part of later-life financial security.

What The New Figure Means

The Supplemental Poverty Measure, often shortened to SPM, is meant to show economic hardship in a broader way than income alone. AARP Foundation notes that the measure considers resources and expenses after taxes and includes housing costs in assessing whether someone falls below the poverty threshold.

That distinction matters for older adults. A person may have lived in a home for decades and still face rising monthly costs, repairs, insurance, property taxes, association fees, utilities, or other expenses. Housing wealth can be hard to use for groceries, transportation, medical bills, or home maintenance unless a person sells, borrows against the home, or makes another major financial decision.

The Housing Wealth Paradox

The Realtor.com analysis summarized the issue as a paradox: many older Americans collectively hold substantial housing wealth, yet millions still fall below the SPM poverty line. The reason is that home equity is not the same thing as spendable income.

Harvard Joint Center for Housing Studies housing research cited in the reporting adds context on cost pressure. Nationally, the cited data showed property taxes rising 31% from 2019 to 2025 and homeowners insurance premiums rising 72% over the same period. Those figures do not describe every household or every local market, but they help explain why a paid-off or long-owned home can still become expensive to keep.

For buyers, sellers, adult children, and aging homeowners, the message is practical: housing decisions in later life are not only about sale price or home value. They also involve recurring costs, accessibility, maintenance, taxes, insurance, transportation, and whether the home supports day-to-day needs.

Why This Matters For Home Buying And Selling

Older homeowners considering whether to stay, downsize, rent, move closer to family, or sell may be weighing financial, emotional, and health-related factors at the same time. The AARP Foundation data do not tell any one person what to do, but they highlight questions that can be useful before a major move or sale:

• What are the ongoing costs? Look beyond the mortgage, if any, and consider taxes, insurance, utilities, repairs, accessibility updates, and association fees.
• How usable is the home over time? Stairs, bathroom layout, entryways, lighting, and maintenance demands can become more important with aging.
• Would a move reduce or increase total monthly costs? A smaller home is not automatically less expensive once taxes, fees, insurance, transportation, and services are included.
• Is home equity easy or difficult to access? Equity may be meaningful on paper but may require selling, borrowing, or other financial steps to turn into cash.
• Who should be part of the conversation? Depending on the situation, older adults may want to speak with trusted family members, a housing counselor, financial professional, attorney, tax professional, or qualified benefits counselor before making decisions.

Aging, Housing Costs, And Health

Because this story involves seniors and aging, there is also an important health context. Financial strain can make everyday health management harder. Older adults may face tradeoffs among housing, food, transportation, medications, dental care, vision care, hearing needs, and checkups. A home that is costly to maintain or difficult to navigate may also add stress for the resident or family caregivers.

Common warning signs that a housing situation may be becoming unsafe or financially stressful can include unpaid bills, delayed home repairs, difficulty getting to appointments, skipped routine care because of cost concerns, trouble affording medications, or increased isolation. These signs do not prove any one diagnosis or outcome, but they can signal that support and planning are needed.

Questions readers may consider asking a doctor, pharmacist, social worker, benefits counselor, or another qualified professional include: Are there lower-cost options for prescribed medications? Are there community resources for transportation or meals? Could a home safety assessment be appropriate? Are there benefits programs or housing supports the person may be eligible to explore? Readers should not start, stop, or change medications based on housing or budget concerns without speaking with a qualified health professional.

What Is Still Unclear

The available sources for this story are national. They do not provide a Schaumburg-specific or Illinois-specific count of older adults below the SPM poverty threshold. They also do not show that housing costs alone caused poverty for every older adult counted. Poverty measures are complex, and the SPM is one way to evaluate hardship by looking beyond income alone.

The clearest takeaway is that home value and financial security are related but not identical. For older adults, families, and housing professionals, the new AARP Foundation figure is a reminder to look at the full cost of housing and the practical needs of aging, not just equity or market value.

Educational note: This article is for general educational purposes only and is not medical, financial, legal, or real estate advice. Readers should talk with their doctor or another qualified provider about their own health, and with qualified financial, legal, tax, or housing professionals about personal housing decisions. In an emergency, call 911.

This article is an original summary based on information published by AARP Foundation, AARP, Harvard Joint Center for Housing Studies, and Realtor.com.

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