NYC Aging Releases “What the Data Demands” Report on Affordability, Highlighting Economic Challenges Facing Older New Yorkers

NYC Aging Releases "What the Data Demands" Report on Affordability, Highlighting Economic Challenges Facing Older New Yorkers

New analysis of citywide Service Needs Assessment finds food insecurity, housing instability, financial strain, and employment barriers disproportionately impact many older New Yorkers

NEW YORK, NY - The NYC Department for the Aging (NYC Aging) today released What the Data Demands: Findings from Older New Yorkers' Financial Security, the latest issue paper in a series building on findings from The State of Older New Yorkers, which provides an in-depth examination of the affordability challenges confronting older New Yorkers, including financial insecurity, food insecurity, housing instability, and employment barriers.

Drawing on responses from nearly 9,000 older New Yorkers who participated in the City's comprehensive Service Needs Assessment, the report finds that affordability challenges are widespread and often interconnected with poorer health outcomes, social isolation, caregiving responsibilities, discrimination, and elder mistreatment.

The issue paper finds that affordability challenges are not experienced equally across the city's older population. For instance, younger older adults (ages 60-74), racial and ethnic minority communities, caregivers, and Bronx residents frequently reported greater economic hardship than their peers. The findings also demonstrate that affordability issues often overlap, creating compounding challenges for older adults already experiencing health concerns, discrimination, or social isolation.

Among the report's key findings:

• More than 40 percent of older adults reported difficulty paying at least one regular household bill.
• Nearly 30 percent reported difficulty accessing affordable, healthy food in their communities.
• More than one-in-four older adults reported experiencing housing instability.
• Approximately one-in-five respondents were out of the workforce for reasons beyond their control, while many who experienced age discrimination reported either being forced out of work prematurely or being unable to retire when they wished.
• Older adults experiencing affordability challenges were significantly more likely to report loneliness, social isolation, mental health concerns, physical or sensory impairments, discrimination, and experiences of elder abuse.

"The affordability crisis touches every generation of New Yorkers, including seniors who are being priced out of the communities they helped build," said Mayor Mamdani. "These findings give us a clearer picture of the challenges older New Yorkers face and will guide our work to lower the cost of living, from making groceries cheaper to building more affordable housing."

"New York City is facing an affordability crisis that impacts everyone, yet some populations hardest hit by these crises, like older adults, are too often forgotten," said Deputy Mayor for Health and Human Services Dr. Helen Arteaga. "This report shows that older adults are disproportionately harmed by food insecurity, housing instability, and employment barriers that all cause extreme financial strain, and the data is a firm reminder that this population of New Yorkers needs access to resources that prevent hardship and ensure they live with dignity."

"New York City should be a place where people can age with dignity, security, and opportunity," said NYC Aging Commissioner Dr. Lisa Scott-McKenzie. "Our What the Data Demands report makes clear that too many older New Yorkers are struggling to afford the basics-from groceries and housing to everyday bills. By taking a closer look at these challenges, this report provides critical evidence to help guide policies and investments that strengthen economic security and improve quality of life for older adults across every borough."

The report also highlights the disproportionate burden facing older adults with annual incomes below $60,000, as well as Hispanic/Latino, Black, and Asian older New Yorkers, who were more likely to experience food insecurity and housing instability.

The paper outlines several policy recommendations to improve economic security for older New Yorkers, including strengthening nutrition assistance programs, expanding affordable housing and eviction prevention efforts, enhancing retirement income supports, addressing age discrimination in employment, increasing access to culturally responsive services, and improving coordination among public benefit and community-based programs.

For more information about the report and its findings or to seek assistance for an older adult and their caregiver, contact Aging Connect at 212-AGING-NYC (212-244-6469).

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