Field Guide to Marketing to the 50+ Population
(Updated July 2009)
The over-50 population is a growing force in America and the rate of home ownership is higher among this age group than in any other. Today's seniors have more active lifestyles, are more affluent and if they 'downsize' their homes it is in square footage rather than price. This Field Guide offers articles, statistical data and links to help REALTORS® gain insight into this potentially lucrative demographic. (D. Foligno, Project Specialist)
2008 Home Ownership Rates by Age
75+ years: 78.6%
70-74 years: 81.7%
65-69 years: 81.6%
60-64 years: 80.9%
55-59 years: 79.4%
50-54 years: 76.4%
45-49 years: 73.6%
40-44 years: 69.4%
35-39 years: 64.6%
30-34 years: 53.5%
25-29 years: 40.0%
-25 years: 23.6%
Source: Homeownership Rates By Age, (U.S. Census Bureau, Mar. 5, 2009).
Understanding the Over-50 Market
Boomers Prefer to Age in Place, but Growing Numbers Head to Age-Restricted Communities, (Realty Times, May 13, 2009).
Condo Trends: Boomers Driving Higher Density Housing, (Realty Times, Nov. 10, 2008).
Do newspapers attract home buyers? If they’re boomers, maybe, (WSJ.com, Feb. 18, 2008).
The cohousing alternative, (Nursing Homes, Jan. 2008).
The Urban boomers, (Penndel 50-plus Housing Council, May/June 2007).
Boomers getting their homes ready for old age, (CNN Money.com, May 3 2007).
Retirement homes go high-rise and urban, (New York Times, Mar. 2007).
On the level: single-story living growing in popularity among over-55 home buyers, (Chicago Tribune, Jan. 2007).
Statistics
Assisted living to fuel seniors housing expansion, survey shows, (National Real Estate Investor, April 2009).
More than half U.S. senior citizens have a disability; over 70 percent of those over 80, (Senior Journal.com, Dec. 18, 2008).
Hot niche in the rental market: housing for the elderly, (New York Times, Feb. 2006).
Housing wealth and retirement savings: enhancing financial security for older Americans, (Harvard Joint Center for Housing Studies, Sept. 2005).
Social Networking for Boomers
Baby-boomers Need Social Network Sites Based On Their Own Needs, (Science Daily, June 24, 2009).
Boomers zero in on social networks, (USA Today, Mar. 27, 2009).
Social Networking Demographics: Boomers Jump In, Gen Y Plateaus, (MicroPersuasion.com, Mar. 23, 2009).
Baby Boomers, Luddites? Not So Fast, (New York Times, Feb. 20, 2009).
Generations Online in 2009, (Pew Research Center, Jan. 28, 2009).
Related Websites
Senior housing - what you should know, (U.S. Department of Housing & Urban Development, Jan. 2006).
'Seniorizing' a home: it doesn't have to cost an arm and a leg, (Caroline Newswire, Jan. 2006).
Best cities for seniors, (Bankers Life & Casualty Co.,July 2005).
Information for senior citizens, (U.S. Department of Housing & Urban Development, June 2005).
Strategies and resources by state for senior home modification, (National Resource Center on Supportive Housing and Home Modification).
Housing choices, (Senior Resource.com).
Financing basics, (AARP).
American Association of Homes and Services for the Aging (AAHSA).
eBooks & Other Resources
Books, Videos, Research Reports & More
The resources below are available for loan through Information Central. Up to three books, tapes, CDs and/or DVDs can be borrowed for 30 days from the Library for a nominal fee of $10. Call Information Central at 800.874.6500 for assistance.
HDR Affordable Seniors Housing Handbook, (New York, NY: West Group, 1998). HD 7287.9 H75h
Field Guides & More
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Field Guide to Complying with the ADA
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The inclusion of links on this Field Guide does not imply endorsement by the National Association of REALTORS®. NAR makes no representations about whether the content of any external sites which may be linked to this Field Guide complies with state or federal laws or regulations or with applicable NAR policies. These links are provided for your convenience only and you rely on them at your own risk.
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