IRVINE, CALIF—A special report from RealtyTrac found that 40 cities nationwide have at least 33 percent of their population aged 65 or older. The report also covered real estate investing in cities that are retirement hot spots. Among the 40 cities, 25 posted annual increases in median home prices, and 27 had a positive capitalization rate.
“These popular retirement cities will very likely be an area of growth in the housing market over the next 15 years as baby boomers retire in greater numbers,” said Daren Blomquist, vice president at RealtyTrac. “The baby boomer generation started retiring in 2011, a trend that will continue at least through 2029, ensuring plenty of demand for both rentals and owner-occupant purchases in these markets for the foreseeable future.”
Of the 40 retirement hot spots, RealtyTrac then ranked the top 15 cities based on the annual percent change in home prices as of May. Seven cities in Florida, two cities in both Arizona and California and one city in Arkansas, Pennsylvania, Oregon and New York made the top 15 list.
The top 15 list and more information about the RealtyTrac special report can be found here.