Demographic Profile
An estimated 3.7 million baby boomers will turn 55 in 2004, bringing the total baby boomers aged 55-plus to 10.8 million. This generation's demand for empty-nest and senior housing is one that cannot be ignored.
Many baby boomers are cashing in on their real estate equity.
Baby boomers are defined as the generation born between 1946 and 1964
By the year 2012, there will be 39.2 million baby boomers aged 55 and older.
According to the Fair Housing Law, at 55, a buyer is eligible to live in a legally & "age-restricted" community.
There is a growing demand for active adult housing that meets the needs, demands and lifestyles of this unique generation.
Of the estimated 13.3 million households that move per year, 12.2 percent of them are aged 55 and older.
Baby boomers control about 70 percent of the nation’s wealth and 50 percent of all discretionary income.
The typical single-family home in an age-restricted community (age 55 and older) has:
1,500 square feet of living space
Six rooms, two bedrooms and two full bathrooms
Gated neighborhood with recreational facilities such as walking/jogging trails, community center or clubhouse, golf course and private or restricted-access beaches
Of the 55-and-over households that move per year:
6.8 percent of those aged 55 to 64 move into age-restricted communities
15.6 percent of those aged 65 to 74 move into age-restricted communities
29.8 percent of those aged 75 and up move into age-restricted communities
