Senior Spotlight: ‘Baby Chaser’ Update

Did you know that 25% of Baby Boomers plan to retire near their kids and grandkids (Zonda, 2024)? Builder Online recently published an article that provided an update on the ‘Baby Chasers’, a trend shaping the housing market that is defined by the intertwining of demographics. With millennials surpassing Boomers as the largest home buying generation a decade ago, they are now settling down and starting families – with their parents following not too far behind! 

Zonda’s annual ‘Baby Chaser Index’ reveals that the phenomena of Baby Boomers following millennials continues – both on account of wanting to be near their families, but also to take advantage of the market features that appeal to both generations. The traits of such markets include affordability, lifestyle amenities and good weather. 

But money isn’t everything. Even markets with rising home prices are still attracting millennials seeking solid job growth and boomers seeking desirable lifestyle offerings. Such is the case with Austin, Texas – a city that has been the #1 Baby Chaser city for the last 5 years! Zonda research cites the labor market and Texas hill country lifestyle as the main draws, even with the softening tech market and increasing home prices. 

Texas also held the #4 spot (Dallas), the #10 spot (Houston) and the #11 spot (San Antonio) in the Baby Chaser Index. Researchers commend the state’s ability to attract residents from more expensive coastal markets who seek more affordable homes and strong job growth. Master Planned Communities (MPCs) are prominent in Dallas and Houston and offer great design, walking trails, nearby schools, community gatherings, fitness centers, resort-style pools and an array of local dining – traits that millennials and their parents appreciate. 

Other notable cities in the top 10 were Charleston (#2), Jacksonville (#3), Raleigh (#5), Boise (#6), Orlando (#7), Charlotte (#8) and Oklahoma City (#9). Charleston’s coastal appeal presents a strong pull for both millennials and Baby Boomers, while Jacksonville offers the lowest housing cost among Florida markets while retaining coastal access. Charlotte draws much migration from the East Coast – with a status as a Southeastern Financial Center and location of excellent connectivity to the Charlotte Douglas International Airport (attracting millennials who travel for work and retirees who want a quick jaunt to the Caribbean!). Honorable mention goes to Oklahoma City and Boise for their features of having less congestion and traffic, plus lower home and insurance costs. 

What features would entice you to move? Most retirees who opt to move are seeking an improvement in lifestyle, closer proximity to loved ones… and hey, a lower cost of living doesn’t hurt either! If you can have all 3 – that is a victory! 

All my best,

Bobbi 

Bobbi Decker
DRE#00607999

Broker Associate
650.346.5352 cell
650.577.3127 efax
www.bobbidecker.com

NAR Instructor….“Designations Create Distinctions”
CIPS, SRS, ABR, CRS, SRES, GRI, CLHMS, REI, AHWD, RSPS, MSLG

Bobbi Decker & Associates fully supports the principles of the Fair Housing Act and the Equal Opportunity Act. For more information, please visit: http://portal.hud.gov/