Where are all the retirees going?
Baby Boomers are getting older and moving when they retire or prepare to retire. Areas with restaurants, shopping malls, stores, theaters, sports and social centers within walking distance are a huge attraction. An increasing number of men and women who want to spend a large part of their life in suburban areas are looking for communities where they can be active, move around and have a fulfilling social life.
Once their children grow up and move out, parents who have retired from the work place are opting for places where they can live by themselves, relax and enjoy life at a leisurely yet active pace. The late fifties and early sixties is the beginning of a new phase of life for many, and these older adults are searching for new horizons to explore. They prefer to be where there is some action and where they can create new friendships.
Some of these cities have some of the best universities that offer Osher Lifelong Learning Institute Chapters where retirees can attend classes and even go on day trips. There are also world-class hospitals and sports centers to draw folks in as well.
Taking care of a huge suburban house with a big yard can be troublesome, so many retirees are opting for homes in the city. A home in the city can be smaller and easier to manage. And since lately, both men and women prefer to walk more and use their cars less, cities allow them to go without one as they shop, dine and entertain themselves, because everything is within walking distance.
There are a few obvious downsides to this shift. For one, home prices and rental costs in cities can be high. Also, cities are very crowded and sometimes polluted. For those who are not used to the hustle and bustle of city life, it can take a while to adjust.
Even a small percentage of Baby Boomers constitute a sizable number. For real estate agents who want to meet the needs of retirees moving to cities, they need to locate areas that will be of interest to this demographic.
The ten most populous cities in Where to Retire’s fifth edition of “America’s 100 Best Places to Retire” are:
1. Phoenix, AZ
2. Austin, TX
3. Nashville, TN
4. Portland, OR.
5. Ocean County, NJ
6. Albuquerque, NM
7. Lancaster County, PA
8. Maryland’s Eastern Shore
9. Coachella Valley, CA
10. Colorado Springs, CO