Florida Is Building for Its Growing Senior Population

As the size of the senior population grows in Florida, developers are stepping up to meet demand for both for-sale and rental housing, National Mortgage News reports.

Florida is a national leader in drawing senior citizens from other states as permanent residents. According to a recent survey by MagnifyMoney, a site owned by Lending Tree, baby boomers and older people who have surpassed retirement age are fueling a rapid growth in the upper age groups of warm weather states such as Florida and Arizona. And they are bringing lots of financial power with them.

The survey found that Florida leads all 50 states in combined adjusted gross income of people who move in at $17.7 billion.

But that doesn't mean that with all of that financial strength, there is a enough suitable housing to go around for longtime incumbent residents who have graduated into the twilight years, as well as the newcomers from out of state.

Read more