In recent years, the aging population in Chinese cities has become increasingly severe. In 2021, the proportion of people aged 65 and above in Wuchang District, Wuhan reached 24.38%, indicating a deeply aging society. Consequently, the importance of studying aging-friendly public spaces in communities is becoming more prominent. This research was conducted based on survey data of outdoor spaces in Shouyi Community, Shouyi Road. Factor analysis and IPA were used to assess the satisfaction and importance of elderly residents’ satisfaction. The primary renovation factors identified include route organization, site height difference protection, barrier-free design, plant color matching, plant configuration, and landscape features, followed by spatial continuity, lighting, microclimate, and rest facilities layout. These analyses effectively identified public factors and prioritize the aging-friendly renovation of public spaces in old communities. In the renovation of old communities in Wuhan, safety is the primary renovation factor for aging-friendly communities. Improving site height difference protection and barrier-free facilities significantly enhances residents’ satisfaction. The aesthetic improvement of outdoor spaces is the second renovation factor, indicating that the elderly increasingly value the aesthetic aspect of spaces. Although accessibility of community public spaces is the third renovation factor, route organization at the criterion level has the highest priority. Road traffic and parking difficulties are also key factors in the renovation of old communities.