Financial Pressures Push Many Connecticut Residents 45+ to Consider Leaving the State

According to new findings from AARP’s latest Vital Voices survey, affordability concerns are growing for Connecticut residents age 45 and older.

Since 2020, Connecticut adults age 45-plus have consistently identified a core set of financial pressures, particularly around healthcare and day‑to‑day livability. Rising medical and prescription drug costs remain top concerns, along with uncertainty about the long‑term stability of Medicare and Social Security.

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At the same time, the high cost of housing, rent, and utilities — combined with limited affordable housing options — continues to strain household budgets. These pressures are contributing to broader worries about long‑term financial security and the ability to afford retirement.

The financial strain is influencing many residents’ decisions about where to live. According to the research, more than one‑third (37%) of Connecticut residents age 45-plus have considered leaving the state in the past year, consistent with 2023 findings. The results also show adults age 45–64 are significantly more likely to have considered moving than those 65 and older (44% vs. 25%), as are residents currently in the workforce compared to those not working (42% vs. 30%).

Among those who have considered relocating, the top reasons include seeking a lower overall cost of living (89%), lower housing costs (85%), and lower taxes (81%). Three in five (60%) Connecticut adults say they are not confident they could find a smaller home in their community for the same amount they currently pay.

Residents Want Action on Utility Costs

Lowering household expenses could help reverse the mindset of residents who feel pressured to move. Seven in ten (70%) adults age 45-plus do not believe that state elected officials are not doing enough to keep utilities affordable. Nearly all (92%) either strongly or somewhat agree that state government should prioritize utility rate and regulatory changes that benefit consumers rather than utility companies.

Cost of Living and Housing Concerns Are Growing

The cost of living remains a top issue for Connecticut residents age 45-plus. Nearly three in four (72%) are concerned about the high cost of living — up from 66% in 2023’s survey. More than half (54%) worry about their ability to afford aging in place, and 39% are concerned about paying for home modifications that would allow them to remain safely at home.

Concerns about finding affordable housing if they need to downsize or move have also increased sharply, rising from 45% in 2023 to 53% in the most recent research. Renters, who tend to have lower household incomes, are significantly more likely than homeowners to express concern across all housing‑related issues.

Safety and mobility are also pressing issues with 57% worrying about having streets that are safe and accessible for all pedestrians and 53% concerned about access to transportation if they are unable to drive.

Healthcare Affordability Remains a Major Barrier