The number of seniors 65 and older is expected to rise to 98 million by 2060, according to PRB data.
Some of these older Americans are still working and active, prompting many to flock to the cities. The best locations for senior citizen housing tend to be in cities with low crime rates and better affordability.
We talk about what seniors look for in a living community and which cities are the predicted hot spots.
What Seniors Look for in a Senior Housing Development
Seniors look into many factors before selecting a city to live. These are common wish-list items that many older adults and retirees are looking for in a community.
- Lowest senior housing costs
- Safety and low crime rates
- Affordable cost of living
With more seniors and retirees moving to a city, certain urban development trends are on the rise. Many of the hot spots for senior communities are small cities in the Midwest and the south.
This city was ranked as one of the best places to retire due in part to the number of physicians in the area. Seniors are more likely to choose a community that provides reliable health care. This is particularly important if they have a pre-existing condition or special medical needs.
In Rochester, there are over 175 physicians per 100,000 people over the age of 65, landing this city in the top ten percent.
Ann Arbor, Michigan
Another Midwestern city, Ann Arbor also lands a spot in the top ten percent for number of physicians. This city ranks just below Rochester.
Ann Arbor is great for walkability, topping the list of mid-sized Midwestern cities. The ability to walk is essential to seniors that place an importance on physical fitness and convenience. This is also a key wish-list item for seniors that are unable to drive themselves.
Bristol, Tennesee offers a balance of safety and affordable senior housing. Safety is often a primary concern among senior citizens. For this reason, Bristol is a good bet for a senior housing development location.
The state also doesn’t tax retirement account income or pension income. This is a big reason many seniors are moving to Tennessee.
Many seniors love Florida for the fact there is no state income tax. Retirement income is also exempt from taxation. Another reason Florida is a popular destination for seniors is the temperate climate.
Sebastian is a smaller city in Florida with a laid-back feel that many seniors enjoy. It’s also an affordable city that has low crime rates, influencing many to choose to live here.
Finding the Right City for Senior Citizen Housing
Seniors are healthier and more active than ever. Most older Americans are looking for cities that are both safe and affordable. These four locations are some of the hot spots seeing an increase in older buyers and renters.
When choosing a location for your senior citizen housing community, consider the above reasons that seniors pick a state or city. Weather, safety, and affordability are the biggest attractions that draw seniors and retirees.
Are you interested in building a senior living property? Contact us today to schedule a consultation.