We are hearing about lots of demographical and geographical shifts afoot during the pandemic but before considering that, just what was the trend during 2019. Just where were retirees moving to and from, before Covid-19 struck?
A recent report by AdvisorSmith, a business resource group, analyzed the top cities in the nation that are attracting retirees and broke those down into categories based on size.
Pre-pandemic, the large city with the highest number of seniors moving in was New York City, with 18,334 new residents.
The Big Apple is known to offer countless pedestrian-friendly amenities, such as theaters, parks, restaurants, and museums, and as things begin to return, as the virus spread recedes, the city is hoping to bounce back in the eyes of retirees again as the pandemic edges closer to an optimistically hopeful conclusion.
The two other big American cities in the top three are Los Angeles and Houston, with 5,889 and 5,739 seniors moving in, respectively.
For midsize U.S. cities, it is no surprise that Florida is home to seven of the top ten, as the state continues to be one of the preferred destinations for retirees.
The city in this category with the most retirees flowing in was, none other than The Villages, with 3,316 new seniors. Seniors represent 82% of the residents in this area of The Sunshine State.
Port St. Lucie, Florida and Scottsdale, Arizona round out the top three in the mid-sized cities category.
Among America’s so-called small cities, Arizona dominates with seven of the top 10 places for retirees to move to.
There, Sun City, Arizona had the highest number of new seniors moving in with 1,512. Fortuna Foothills and Green Valley, Arizona, are second and third, respectively.
The study classified small cities as having 10,000-50,000 residents, midsize cities were 50,000-250,000 residents, and large-scale cities are those that exceed 250,000 residents.
To calculate this data, the study examined the 2019 U.S. Census, specifically taking note of the number of new residents who moved in that year categorized by age demographic. Residents over the age of 65 were the main focus.
The report studied 84 large American cities and found that an average of 2,100 retirees moved into those cities within 2019.
The study suggests that for many retirees, specific factors are the reason for their decision. Family and proximity to loved ones were widely common. Other factors included health care costs, taxes, and crime/safety.