City life: The latest trend in senior living
June 13 2018
According to the 2017 Aging in Cities Survey commissioned by Welltower, seniors are no longer content to retire quietly to the suburbs to live out their twilight years. In fact, 78 percent of baby boomers reported a desire to stay in their current city beyond age 80.
Why the city?
Today's senior wants the urban social experience with walkable downtown areas and shopping centers in addition to quality health care and public transportation. They want access to cultural activities and diverse populations that allow for the opportunity to meet new people. Eight out of 10 survey respondents reported wanting to make new friends in their 80s, and 60 percent believe it's easier to meet new people in a city environment compared to a suburb.
How do they plan to live?
One in five baby boomers said their first choice would be to live in an urban senior living community with full amenities and access to the city's offerings, with another 76 percent stating they would be very open or somewhat open to this idea.
Why is this significant?
According to the report, urban areas with a high quality of life are experiencing double-digit growth of the aging population, often six times faster than the city's total population growth. With the oldest baby boomers entering their 70s, agents need to be ready to find properties suitable for this demographic.
What's the takeaway?
What home features and community amenities should you be aware of for this group? Easy access to public transportation and a parking garage topped the list of desired amenities. For home features, look for well-designed kitchens, elevator access and communities that allow pets in the home. On-site community features should include full-service laundry, gyms, pools and outdoor areas.
Get in touch today if you'd like to discuss this or other trends happening in our industry.