A new report from the Milken Institute, in partnership with SAGE, outlines five financing models to address the growing need for affordable, LGBTQ+-affirming elder housing in the United States.According to the report, the number of LGBTQ+ adults aged 65 and older is expected to rise from 1.1 million today to over 7 million by 2030. Many face financial insecurity and social isolation, with more than 40% living below the federal poverty line. Only 49% of LGBTQ+ older adults own homes, compared to the national average of 65%. The epidemic of housing insecurity faced by LGBTQ+ Americans is an issue that requires a comprehensive approach, one that taps into the creativity and resources of the financial sector, corporations, and philanthropists, said Richard Ditizio, CEO of the Milken Institute. Despite the growing need, there are only about 1,500 LGBTQ+-affirming elder housing units spread across 20 states. Existing developments often struggle to remain affordable and inclusive due to high construction costs and a lack of sustained funding.Another roadblock is the lack of financial incentives for developers to integrate LGBTQ+-friendly services, inclusive design, culturally competent programming, and workforce training, said the report. To address these challenges, the report proposes possible solutions including:Social Bonds:Government- or institution-issued debt instruments used to finance projects with a social benefit. States or cities could issue bonds specifically to fund LGBTQ+-affirming housing developments and services. Investors are repaid through revenue sources such as property taxes. Examples include Portlands housing bond, which raised $258 million for affordable housing. Impact Investment Funds:Blended capital approaches using philanthropic and market-rate investments to reduce financial risk for developers.Pay-for-Performance Models:Contracts that repay investors based on achieved outcomes, such as reduced hospitalizations or improved housing stability.LGBTQ+ Elder Housing Prize:A competitive grant model to incentivize and recognize best practices in inclusive elder housing.Financial-Sector Partnerships:Engagement with private equity firms, corporate social responsibility initiatives, and LGBTQ+ employee groups to support programming and services.This report offers innovative strategies to address the acute housing needs that LGBTQ+ elders face, said Michael Adams, SAGE CEO. LGBTQ+ older people struggle with many barriers to affordable housing, including fixed incomes, isolation from family of origin, and discrimination from staff and other residents. By following the Milken Institutes expert recommendations, housing providers can leverage new streams of capital that will make creating affordable LGBTQ+-affirming elder housing both possible and sustainable.To read the full report, visit milkeninstitute.org.The post New report offers strategies to fund inclusive housing for LGBTQ+ seniors appeared first on News Is Out.