Field Guide to Marketing to the 55+ Population

(Updated March 2006)

According to the U.S. Census Bureau, 7918 people will turn 60 every single day of 2006!! With figures like that it is critical that REALTORS® understand the changing housing needs of the Boomer generation. Today's seniors have more active lifestyles, are more affluent and if they 'downsize' it is in square footage rather than price. This Field Guide offers articles, statistical data and links to help REALTORS® gain insight into this growing population. (D. Foligno, Project Specialist)

Contents: 

Understanding the Over-55 Market  |  Statistics  |  Selling to Seniors  |  Useful Websites  |  Books, eBooks & Other Resources

Fastest Senior Growth Metro Areas

Understanding the Over-55 Market

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).

Me, you and grandpa, too, (Texas A&M, Jan. 2007).

Build them and they will come, (Builder, Jan. 2007).

Baby boomers take center stage in housing picture, (Sacramento Bee, Feb. 2006).

Aging at home: for a lucky few, a wish come true, (New York Times, Feb. 2006).

Baby boomers drive urban condo market, (Philadelphia Inquirer, Jan. 2006).

Home alone, (The Economist, June 2005). Q

Homes for a booming market, (AARP, July/Aug. 2004).

For over-55's, bigger homes, smaller developments, (New York Times, May 2004).

Condo prices soar in hot markets, (MSN Money, Mar. 2004)

A quiet crisis in America, (Journal of the American Planning Association, Winter 2003). Q

You must be 55 to apply, (Kiplinger's Personal Finance, July 2003). Q

Statistics

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).

New housing for older adults spans a wide range of prices, (Chicago Tribune, Aug. 2004).

Washington D.C.- area empty nesters opt for life in the city, (RIS Media, July 2004).

Housing options for the Elderly, (Estate Planning, July 2004). Q

Empty-nesters flock to cities, (CBS News, July 2004).

The older population in the United States, (U.S. Census Bureau, Apr. 2003).

Boomers & seniors in the suburbs: aging patterns in census 2000, (Brookings Institution, Jan. 2003).

Selling to Seniors

Selling: seniors, (REALTOR® Magazine Online Apr. 2006).

Baby-boomer wave will alter adult-living housing market, (Engineering News Record, Feb. 2006). Q

Net savvy seniors defy assumptions, (REALTOR® Magazine Online Feb. 2004).

Retirees: consider downsizing, (Chicago Tribune, Aug. 2003).

Seniors can be your biggest market, (Realty Times, Dec. 2002).

The 10 commandments for selling to seniors, (SuddenlySenior.com, 2002).

Retirees want small towns, bookshops, (REALTOR® Magazine Online, Dec. 2002). 

Useful 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.

Seniors and service, (Real Estate Professional, Sept./Oct. 2003, p. 58).

Developing a seniors specialty, (CRS Residential Specialist, Nov./Dec. 2002, p. 34-39).

Co-housing offers seniors alternative living in mixed-age communities, (Housing the Elderly Report, Oct. 2002, p. 5).

Legal do's and don'ts for age-restricted communities, (Wharton Real Estate Review, Fall 2002, p. 47-55).

Marketing to the Mindset of Boomers and Their Elders, (Chicago, IL: Attitude Base, 2002). HD 7293 M82

Analyzing Seniors' Housing Markets, (Washington D.C.: Urban Land Institute, 2002). HD 7287.9 B74

Boomers on the Horizon: Housing Preferences of the 55+ Market, (Washington, DC: National Association of Home Builders, 2002). HD 7293 W97b

Targeting the Over-55 Client, (Chicago, IL: Real Estate Education Co., 1999). HD 7287.9 T79 Ed. 2

HDR Affordable Seniors Housing Handbook, (New York, NY: West Group, 1998). HD 7287.9 H75h

Field Guides & More

These Field Guides and other resources in the Virtual Library may also be of interest:

Field Guide to Fair Housing

Field Guide to Complying with the ADA

Field Guide to Diversity for REALTORS®

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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.