The “where to retire” question is on the minds of lots of baby boomers, perhaps even more often than the “when to retire” question. We may think about waterfront property, country homes, college towns, or more exotic retirement destinations. We may even read magazines dedicated to finding that perfect place to retire for our lifestyle.
Where Future Retirees are Moving
< To figure out where the best places are to retire, it sometimes helps to find out where future baby boomer retirees are moving to now. Fortunately, that data is available, courtesy of the Brookings Institution.
Here is a listing of U.S. metropolitan areas that experienced the greatest positive population change (by percentage) in the 55-64 age group. (That’s us.) The data is for the period from 2000 through 2007.
- Raleigh-Cary, NC – 31.6%
- Austin-Round Rock, TX – 30.1%
- Atlanta-Sandy Springs-Marietta, GA – 29.8%
- Boise City-Nampa, ID – 28.7%
- Las Vegas-Paradise, NV – 27.8%
- Orlando-Kissimmee, FL – 27.2%
- Houston-Sugarland-Baytown, TX – 23.7%
- Dallas-Fort Worth-Arlington, TX – 22.7%
- Colorado Springs, CO – 22.6%
- McAllen-Edinburg-Mission, TX – 21.5%
- Phoenix-Mesa-Scottsdale, AZ – 21.0%
- Charleston-North Charleston, SC – 20.8%
- Albuquerque, NM – 19.5%
- Tucson, AZ – 19.2%
- Washington-Arlington-Alexandria, DC-VA-MD-WV – 19.1%
- Salt Lake City, UT – 19.0%
- Charlotte-Gastonia-Concord, NC-SC – 18.2%
- Denver-Aurora, CO – 18.1%
- Nashville-Davidson-Murfreesboro-Franklin, TN – 18.1%
- Ogden-Clearfield, UT – 18.0%
Interesting list, don’t you think?
Thoughts on Boomer Retirement Relocation Trends
A few things caught my eye on this list of likely boomer retirement destinations. First, none of them are in the Northeast, Midwest, or Northwest. Second, only one area is in Florida. Third, none are in California. Fourth, the metro areas are heavily concentrated in the inter-mountain and Sunbelt regions.
I suppose that two things that most of these locations have in common are jobs and mild winters. The former is attractive to almost every adult. The latter is important to many retirees.
Based on economic trends in 2008-2009 (particularly in the housing markets), I suspect that the rates of boomer population growth in Arizona, Nevada, and Florida will decline. Too many people have been burned on real estate deals in those areas. From what I have been reading lately, there is now a net decrease in population growth in Florida.
Finally, I find in interesting that for the most part, the areas on the boomer retirement city list are not lake front or other resort-style regions. I would love to find population trend data for those areas as well. I will keep looking.
What are your thoughts on this list of cities as good places to retire?
Image credit: Ecstaticist