Most Older Adults Retire In The Same Metro Area

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Around 80 percent of retirees who have recently moved stayed close to where they originally lived

June 09, 2017

Photo: Pixabay

It turns out that it’s actually somewhat rare for older adults to uproot and move to warmer climates soon after retirement.

CNBC reports that a recent CoStar Group poll found that, in 17 major real estate markets across the nation, more than 80 percent of people 55 or older who moved in the last seven years remained in the same county or state. Additionally, a separate poll indicated that nearly 90 percent of retirees want to age in place, and 80 percent said they think they will always live in their current residence.

Not every retiree shuns beach life. CoStar found that people 55 and older with annual incomes above $75,000 tend to favor markets with warmer weather and retiree-friendly tax situations.

Myrtle Beach, S.C., Charleston, S.C., and Dallas are the markets that have had the highest increases since 2010 in 55 or older residents who make at least $75,000.

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