Wausau to see spike in housing demand for older adults

The city of Wausau is preparing for a spike in housing demand for older adults.

A draft report shows housing demand for adults age 55 and older will spike around 2040.

Sam Wessel with the North Central Wisconsin Regional Planning Commission (NCWRPC) presented the report to the Wausau Plan Commission on Tuesday.

“If you’re in these older adult categories, you’re typically making less than the median wage because fewer of fewer people are working. Some are still working part-time even if they consider themselves retired. But that shows you right off the bat that affordability is going to be number one when it comes to housing that these age groups will occupy,” Wessel said.

According to the report, Wausau will need an additional 636 single-family owner-occupied homes by 2030, and over 400 renter-occupied units by 2040.

The city will also need nearly 800 additional independent living units and over 500 beds for assisted living, memory care, and skilled nursing housing by 2040.

“People are also living longer. So it’s kind of scary when you retire on a fixed income and it’s you know how long will it last? And we haven’t really felt that dramatic shift yet because people are living in their houses longer,” Wessel said.

The report also found that affordability and staffing are among the top concerns for the older adult age group.

This is because as people age, they tend to move from owning homes to renting.

“A lot of people love to live in their house forever, but then some just get to a point where it’s not feasible anymore,” Wessel said.

The report also sets some high-priority actions to meet the upcoming demands. The actions include amending zoning ordinances to increase variety of housing units and prices, amending subdivision ordinances to allow smaller lot sizes, and reaching out to developers to increase the housing supply.

The report also recommends educating the community about the housing market and updating municipal planning documents.

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