While there is much talk about how Millennials prefer renting apartments over home ownership, there is another important demographic group that is moving to apartments in droves: Baby Boomers.
In 2016, the Baby Boomer generation begins turning 70 years old, ushering in two decades of quick growth in the “senior” population. This group is more than 75 million strong, slightly less than the current largest demographic group – Millennials. These Boomers – who are more active than the seniors before them – are often empty nesters who seek the convenient and luxurious amenities that apartments offer.
Here are the top 4 reasons Baby Boomers love renting apartments:
- Walkability and easy transportation from apartments to jobs and activities they love to do. Baby Boomers are choosing to live in urban apartments so they can bike or walk to work, use public transportation and walk to restaurants and shopping, according to Angela Sweet, director of Destination Services for CORT. Making the search for the perfect apartment easier for Baby Boomers, ApartmentSearch.com offers a walkability score for each apartment complex, on a scale from one to 100.