While it seems like everyone wants to know when millennials are going to buy and what they are looking for, there is another large generation who needs housing.
Older Americans and senior citizens are still buying, and interestingly enough, they are looking for similar features that millennials crave. According to a recent report from A Place for Mom, seniors prefer walkability and closeness to urban areas. More than half of adults who live in a senior apartment prefer to be able to walk places, followed by 38 percent of those who live independently and 26 percent who live in assisted living facilities.
Seniors also seek out low crime areas, again due to the ability to safely walk places. Additionally, most aspire to be close to their families, as well as medical care.
“The findings from this study are significant to not just seniors and their families, but to a broad audience who has the potential to shape future developments of senior living communities, neighborhoods and cities,” says Charlie Severn, head of marketing at A Place for Mom. “The data can help inform local politicians and relevant stakeholders before making choices around zoning and the allocation of resources for public services.”
Good public transit is somewhat important to a majority of seniors, as is its closeness. A previous A Place for Mom survey found that 80 percent of seniors want to stay in their own homes or a home environment for as long as possible.
“It’s time to abandon the idea that only millennials and Generation X care about walkability and the services available in dense urban neighborhoods,” said Severn. “These results show a growing set of senior housing consumers also find these neighborhoods desirable. It’s a trend that should be top of mind among developers.”