Where are seniors going after they retire? It’s one question research organization Esri set out to answer in a recent study of America’s changing demographics.
In its exploration of real estate and housing preferences for the 55-plus population, and with the help of U.S. Census data, Esri narrowed down the five counties with the highest projected growth for older Americans. It found St. Bernard Parish, Louisiana would see the greatest increase between 2010 and 2016 (65%) with Geary County, Kansas; Sublette County, Wyoming; Fort Bend, Texas; and Lincoln South Dakota having the next highest increases.
“Developers need to determine which type of seniors they want to target, since housing requirements for seniors are as varied as seniors themselves, with needs based on affluence, age, lifestyle, and geographic location,” Esri writes.
“Tired of dealing with harsh winters and home maintenance, some seniors in colder climates migrate to warmer places or downsize when they retire and their children leave home. This migration, though, has decreased in recent years as the economy has worsened.”
Written by Elizabeth Ecker