Living Below the Line: Economic Insecurity and Older Americans, Insecurity in Massachusetts, 2022

Authors

Jan Mutchler, University of Massachusetts BostonFollow
Nidya Velasco Roldán, University of Massachusetts BostonFollow
Yan-Jhu Su, University of Massachusetts Boston

Document Type

Research Report

Publication Date

4-2023

Keywords

2022 Elder Index, older adults, economic insecurity, Massachusetts

Disciplines

Economic Policy | Gerontology | Social Policy | Social Welfare

Abstract

New estimates from the 2022 Elder Index^TM reveal that the cost of living in Massachusetts has increased substantially in recent years for older adults, especially for renters. The Elder Index measures the necessary costs faced by households made up of one or two older adults, calculated county by county for the entire United States. Estimated costs are higher in Massachusetts than in any other state in the nation. Within the Commonwealth, the Elder Index is lowest in Western Massachusetts, and highest in Metro Boston, Martha’s Vineyard and Nantucket, with differences in the Elder Index across locations accounted for largely by the cost of housing. Comparing household incomes to the Elder Index, we calculate the percentage of independent older adults with incomes that do not support economic security. Massachusetts ranks at the top among the states in percentage of older singles with incomes below the Elder Index value, at 57%, and it ranks fourth nationally among couples, at 26%. Together, these figures suggest that nearly 300,000 Massachusetts single or coupled residents aged 65 or older live with incomes below what it takes to cover essentials.

Recommended Citation

Mutchler, Jan; Velasco Roldán, Nidya; and Su, Yan-Jhu, "Living Below the Line: Economic Insecurity and Older Americans, Insecurity in Massachusetts, 2022" (2023). Center for Social and Demographic Research on Aging Publications. 67.
https://scholarworks.umb.edu/demographyofaging/67