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.
- Luxurious and high-tech amenities. Apartments offer Baby Boomers a more luxurious place to live than they may be able to afford in a home. “Many apartments feature granite countertops, hardwood floors, and up-to-date appliances,” Sweet said. “They also have incredible amenities, such as magnificent fitness centers that are on par with gyms you would pay a membership for, beautiful pools, movie rooms, yoga rooms, cyber cafes and coffee shops in the clubhouses.”
- Apartments are easier than home ownership. Retired or even employed baby boomers don’t want to be responsible for mowing lawns, clearing away snow and the many other maintenance and repair tasks that are part of home ownership. “When they get home from work, people want that convenience and lifestyle that apartments offer.”
- Apartments save money. Baby Boomers can save thousands of dollars a year by renting apartments, versus the maintenance and upkeep required for homes. When there is a problem with their heating or air conditioning, they simply call the office of their apartment community. When appliances need repair, the community pays for that expense. All those extra expenses result in saved money Boomers can use to enjoy life, travel and spend time with family.
If you are a Baby Boomer looking for a new apartment to rent in your city – or anywhere in the U.S. – the best way to the perfect home for you is to visit ApartmentSearch.com. We help you quickly narrow down your choices by neighborhood, walkability, price range and desired amenities – including tech-friendly features. You can even earn up to $200 in rewards for you or to be donated to charity when you let your new apartment community know that you found them on www.apartmentsearch.com
