These are the cities that baby boomers move
The top position is that warmer climates continue to rule. Cities in Florida, as well as the Phoenix outside neighborhoods, remain the most important relocation destinations for the cohort, according to Jaclyn Dejohn, director of Smartasset for economic analysis and a certified financial planner written by the column.
Palm Coast, Florida, had the highest percentage of baby boomers in the course of 2023 by 3.69% of the total population. Likewise, the Phoenix outside districts of Scottsdale, Surprise and Goodyear had the third, fourth and fifth highest percentages respectively.
Interestingly, the suburb of San Jose of Sunnyvale, California, was generally ranked 36th in the transplant percentage of Baby Boomer. Although this figure may not seem remarkable, another detail – where they came from – could be.
Boomer transplants accounted for 2.12% of the population in Sunnyvale in 2023. And of these 3,168 new residents, more than half (1,613) came from outside the US
Baby boomers also form at least 25% of the population in 18 cities, many of which are in Boomer cars in California and Florida. But there is a biter in the form of Springfield, Illinois, where the composition of 25.49% of Baby Boomer inhabitants surpass Sunny Huntington Beach, California (25.3%).
Costs of living are a large part of the conversation for baby boomers. This is why other locations outside the usual suspects start to enter the conversation more fully, Dejohn wrote.
“From the top 20 cities where baby boomers flowed, Las Cruces, New Mexico has the lowest median monthly housing costs at $ 960,” is the column. It was followed by Lakeland, Florida, with median housing costs of $ 1,205 per month.
Among the 20 cities with the largest baby tree populations are the lowest housing costs in Topeka, Kansas ($ 924 per month) and Springfield, Illinois ($ 940 per month).
For baby boomers who are planning to move, the Reverse mortgage industry has trumpeted the Home Equity Conversion MortGage (HECM) program (H4P) program as a road for financing these types of movements.
Although there are fiery believers in H4P, it still has to get its step in the reverse mortgage industry. But some hope to change that in the coming years.
