Are Baby Boomers the New Millennials?

New data suggests that by 2035, one out of three U.S. households will be headed by individuals over 65 years of age. Roughly 79 million Americans will be considering retirement and potentially entering the luxury, urban rental market.

According to the Joint Center for Housing Studies of Harvard's 2016 report, Projections and Implications for Housing a Growing Population: Older Households 2015-2035, the number of Americans 80 years old and up will double over the next 20 years. RENTCafe's latest analysis of U.S. Census Bureau data suggests seniors are the fastest-growing segment of the country’s rental population, otherwise referred to as "The Silver Tsunami", with many eyeing amenity-rich urban apartment complexes, Curbed reports.

Opening in Boston’s Brighton neighborhood in January, Waterstone, which is being billed as an urban independent living community, represents a watershed in American demographics, senior life, and real estate development. Gordon’s firm Epoch Senior Living has made a big bet ... with rent starting at $7,000 a month ... that baby boomers’ golden years will be a golden opportunity ... As Americans live longer with more healthy, active lifestyles, senior housing is being rethought, redesigned, and, in this case, rebranded.

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