As Baby Boomers continue to age into retirement age, a new study reveals where they're relocating for their golden years, and how their preferences are reshaping the market.
Rodney Harrell, director of livability thought leadership at the AARP Public Policy Institute, explains, “Baby boomers are so hard to pin down. There are so many of them, and they're choosing a wider range of options than previous generations. …There's no one size fits all.” As well, no region fits all. The list of 10 Boomer boomtowns range from the Southwest to the Northeast to the Midwest to the Southeast. Punta Gorda, Fla., took the top spot, with median list price of $275,100, and a 47 percent share of residents aged 60 years old and older, Realtor.com reports.
There has never been a generation quite as consequential as the baby boomers. They forever transformed music and politics, ushered in the computer era, pioneered fanciful notions like free love, recreational drugs, Amazon.com, and Hot Pockets. So what do they do for an encore? Completely reshape retirement. Get ready for a graying tsunami: Nearly 50 million of the enormous cluster of 74 million Americans born between 1946 and 1964 have yet to hit 65—with around 10,000 a day making that milestone over the next decade.
Advertisement
Related Stories
New-Home Sales
Mortgage Rates Are Up but New-Home Sales Still Solid in March
Lack of existing home inventory drove a rise in new-home sales, despite higher interest rates in March
Labor + Trade Relations
Who's Earning What in Construction
Workers in construction management roles may earn a higher median wage, but on average, lower-paid occupations have experienced somewhat faster wage growth
Build to Rent
Build-to-Rent Is Booming, Particularly in These Metros
A recent report finds that the Phoenix metro leads with more than 4,000 build-to-rent units completed in 2023, and Texas is the leading state for build-to-rent development