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December 13th, 2016 9:27 AM

Barbara’s Blog:

Baby Boomers plan to move to rental units in the next few years, according to Freddie Mac’s latest 55+ Survey of housing plans and perceptions of those born before 1961.

An estimated 6 million homeowners and nearly as many renters prefer to move again and rent at some point.  More than 5 million say they are likely to rent by 2020.  When a population this large expects to move into less expensive rental housing, it will create significant new pressure on both the supply and cost of existing affordable rental housing. 

The top factors future renters say are very important in influencing their next move are:  affordability, amenities needed for retirement, living in a community where they are no longer responsible for caring for the property, and being in a walkable community.   Many don’t want to move far from their current location.  Nearly 60 percent of the 55-plus renters surveyed said they prefer to either move closer to their families or in with them. 

With Davenport being the “vacation home” capital of the Four Corners areas, the availability of long term rental housing is already lacking.  As local Florida residents in senior communities make decisions in the future to sell and rent, some may be forced out of the area to find the affordable housing that meets their needs.  Perhaps some builders should take note of this desperate need of alternate housing plans and create some additional rental communities.  Future demographics of Davenport may depend on it.

Written by Barbara Doeringer



Posted in:Real Estate
Posted by Allen Doeringer on December 13th, 2016 9:27 AMPost a Comment

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