Stem cells in different organs are important for tissue homeostasis and repair after injury. Specialized niches support the life-long maintenance and function of adult stem cells. In the adult brain, stem cells give rise to new neurons that functionally integrate into restricted brain areas. The largest germinal niche in the adult mouse brain is the ventricular-subventricular zone (V-SVZ) adjacent to the lateral ventricles. Quiescent V-SVZ adult neural stem cells integrate intrinsic and extrinsic signals to become activated and generate progeny. However little is known about the niche signals that mediate their behavior. I will present our recent findings about the functional and molecular properties of quiescent and activated adult neural stem cells as well as unique features of the specialized niche that regulate adult neurogenesis, and how these change and impact stem cell dynamics in different states including aging.