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Senior Spotlight: Where Are Baby Boomers Headed

Retirees are calling this city and these 5 states home.

Our Senior Spotlight acknowledges that no one retirement is right for everyone. We’ve explored offshore retirement trends, downsizing and upsizing, aging in place, senior communities and this week… relocation! Headlines in the first week of the new year have largely centered around where older Americans are moving, and if that will create more inventory or simply shift it and drive competition. After all, Boomers are coming in with more cash more often than not given that they have had much more time and opportunity to build equity.

But are Boomers really moving…and where to? In Spring 2023, Baby Boomers overtook millennials as the largest generation of home buyers, at 39%. Now that more data from 2023 has been reviewed, here are the top 5 states and the No. 1 city where Baby Boomers are moving to.

The factors that are reported to influence these locations are: affordability, lifestyle, access to healthcare, tax friendliness and higher does of sunshine. Analysts also discovered that one’s bank balance influences their choice of location, to no surprise. Those more concerned with saving money prioritized affordability, whereas those that had more savings prioritized lifestyle and top quality healthcare.

Have you ever considered moving out of state? Are any of these places on your list of top contenders?

Best wishes for a great rest of the week,

Bobbi