A small but growing number of baby boomers are planning to move to age-based communities when they retire.
About 3% of the baby boomers now plan to move to age-based communities, up from 2.2% in 2001, according to researchers at the MetLife Mature Market Institute, Westport, Conn., and the National Association of Home Builders, Washington.
Although the percentage looks small, it represents 1.2 million households, the researchers report.
But the researchers found that many older boomers are mainly interested in communities near their worksites, or communities that will help them work at home, because they have no intention of retiring, the researchers found.
The percentage of older home-changers who chose to move to a community close to work increased to 17% in 2007, from 11% in 2001, the researchers say.
© Arc, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.