Affordable housing for seniors in Florida is a significant challenge, with approximately 12% of seniors living below the poverty line and 35% being considered cost-burdened by housing, according to America’s Health Rankings 2024 Senior Report. 

Responding to that need, UnitedHealth Group, the parent company of UnitedHealthcare, has invested more than $1 billion in affordable housing since 2011. It helped build affordable and mixed income housing developments in 31 states and the District of Columbia for people in need of housing and supportive services. These investments have helped provide more than 25,000 homes for individuals and families facing housing insecurity. 

Adults aged 55 and older are the fastest-growing demographic facing homelessness. With Florida's senior population expected to grow from 3.3 million to over 6.3 million by 2030, the demand for affordable senior housing will only increase, highlighting the urgent need for more accessible and affordable housing solutions for this vulnerable group.

The company’s latest investment of $22.3 million helped redevelop two affordable housing properties for seniors in Clearwater, providing nearly 200 homes.

But why does a health care company care about affordable housing? UnitedHealth Group says research shows there is a strong connection between affordable housing and one’s overall health. Housing is considered a key “social driver of health,” so addressing barriers to housing helps improve health outcomes.  

Affordable Housing Improves Physical Health:

According to the Center on Budget and Policy Priorities, high housing costs can lead to negative health outcomes as people may have to choose between paying rent and affording essentials like preventative care, medicine, and nutritious food. Homeless individuals often rely on costly emergency room care, increasing overall healthcare expenses. In UnitedHealth Group sponsored properties, 95% of residents had yearly check-ups, compared to 67% of working-age adults and 90% of seniors nationwide.

Affordable Housing Improves Mental Health: 

When people have stable housing, they experience less stress and improved mental health, and children often achieve better educational outcomes. A study on UnitedHealth Group sponsored properties found that residents report better mental health than low-income individuals nationwide, with only 10% reporting more than 14 days of poor health compared to 22% of low-income respondents. When support services are made available onsite or nearby, affordable housing can also increase access to mental health services.

Affordable Housing Decreases Safety Risks:

High housing costs may force families to live in neighborhoods with health and safety risks, which can aggravate physical and mental health conditions in adults and children. These neighborhoods often lack essential resources like jobs, health providers, recreational spaces, and healthy foods, making it difficult for those with limited transportation to access these services. This is why UnitedHealth Group invests in affordable housing units in locations integrated with, or close to, health and social services.

We believe that investing in affordable housing is an investment in the health of individuals and communities. Providing stable and safe living conditions, along with access to essential services, addresses key social drivers of health and fosters healthier communities.