EL PASO COUNTY, Colo. (KOAA) — Colorado’s senior population continues to grow, and so does the cost of living.
The Colorado State Demography Office projects that more than 1.1 million Coloradans will be over the age of 65 by 2030. As of 2024, that number sits at 983,000, according to its database.
For many older adults living on fixed incomes, the rising cost of housing is becoming increasingly unsustainable. One Colorado Springs woman who's on a fixed income says she nearly became homeless before finding a new place she could afford.
For Jana Alexander, the move into a newly opened senior living community came just in time.
“It’s been really nice. I think I’m trying to get used to the idea of not being fearful,” Alexander said.
Alexander says it’s the first time she’s ever been able to mount her TV on a wall. It's a small but meaningful sign that she finally has a place she can call home.
But just a few months ago, the situation looked very different. It was very challenging.
Over three years in her previous apartment, her rent increased by nearly $400, Alexander said. It was beyond what she could afford to pay every month.
“Trying to figure out what my option is going to be… besides the streets,” Alexander said.
With utilities, insurance, and medical expenses piling up, the stress became overwhelming.
“Constant butterflies in your stomach,” Alexander said.
CEO of Silver Key Senior Services says the organization hears stories like Jana’s far too often.
“Do I put food on the table, or do I pay all these things so I don’t lose my house?” said Jason DeaBueno, CEO of Silver Key Senior Services.
In El Paso County, the population of adults 65 and older is now 110,000, and is expected to reach more than 118,000 by 2030.
The Pikes Peak Housing Network reports there are 28 affordable senior housing sites in the county, totaling nearly 2,000 units.
“We’re trying to figure out how to create capacity for people to downsize while still allowing the community to support the growth that’s happening,” DeaBueno said.
DeaBueno says the organization is taking steps to help close that gap. It has recently submitted plans to build new affordable senior housing in the Old North End.
“Right now, we are moving forward with financing,” DeaBueno confirmed.
In the meantime, Alexander says there are too many people who are going through similar challenges.
“There are really not too many places for them to go… unless they move in with their kids,” Alexander said.
News5’s Peter Choi wants to hear from you. If you’re a senior struggling with rising costs, whether it’s rent, insurance, or groceries, he’d like to learn more about your experience. You can reach him at peter.choi@koaa.com.
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