NerdWallet Ranks Fastest Growing Cities for Seniors
The age 65 and older population is growing and they’re attracted to areas with good weather, tax benefits and proximity to services and supports like senior living communities, according to a recent analysis from NerdWallet.
Using data from the U.S. Census Bureau, NerdWallet analyzed the 75 largest metros in the country, taking into account the age 65+ population as a percentage of total population from 2007 to 2012.
Arizona and Michigan were among the states with the fastest growing 65+ population, as each had two metro areas within the NerdWallet top-10 rankings.
The Tucson and Phoenix-Mesa-Glendale metro areas boast attractive weather, a surplus of golf courses as well as nearby retirement communities and continuing education opportunities for retirees.
On the Michigan front, the metro areas of Detroit-Warren-Livonia and Grand Rapids-Wyoming reported increases in their senior population, despite overall population growth hitting a decline.
Both areas also play home to senior living communities such as Woodhaven, a full-service continuing care retirement community, and Clark Retirement Community, a nonprofit organization that offers residential options and services for retirees.
Other top retirement destinations include Nevada’s Las Vegas-Paradise metro, where no income tax or inheritance tax might be appealing for some retirees, and where the area’s senior population grew 1.9% from 2007-2012—the third-highest rate of all places in the NerdWallet analysis.
The rest of the top-10 retirement places varied regionally, with other states like Florida, Georgia, Virginia, Washington and Oregon making the cut.
NerdWallet even goes beyond the top-10 places to include an expanded list of the top-20 fastest growing retirement destination.
Written by Jason Oliva