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Boomers Stand to Alter Seniors Housing Market

With the first of this generation entering senior living, it's likely the group's preferences will impact the sector in major ways.

By Sule Aygoren Carranza | Updated on May 12, 2009

WASHINGTON, DC-The first of the Baby Boomers will soon be entering the seniors housing market, and there’s no doubt they will have an impact on the sector like they did on many aspects of society. Given this, the National Association of Home Builders and MetLife Mature Market Institute, based in New York City, examined the 55-plus population and its preferences in homes and communities. The study, which examined Boomers over the age of 55–the entire cohort ranges from 45 to 63 years of age–as well as older generations, also looked into how the housing industry has responsed to consumer demand.

Dubbed “Housing for the 55+ Market: Trends and Insights on Boomers and Beyond,” the report is the first in a series and is based on data from the most recent American Housing Survey from the US Census Bureau. The paper was released during NAHB’s “Building for Boomers & Beyond: 50+ Housing Symposium”, recently held in Philadelphia.

By product type, the locally based NAHB and MMI focused on age-qualified active adult communities, other non-age-qualified 55-plus owner-occupied communities and age-restricted rental communities, and homes where the head of household is 55 years or older. Specifically, the pair focused on trends that emerged between 2001 and 2007, the first time that data like this has been made available for active adult communities.

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