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Atlanta Ranked Top Market for Senior Housing in 2016

by Peter Thomas Ricci

Older consumers will play a big role in Atlanta’s housing market in 2016

retirees-real-estate-housing-market-homebuying-baby-boomers-2016

Metro Atlanta will see more housing activity from retirees in 2016 than most metropolitan regions, according to a new study by realtor.com.

In its study, realtor.com looked at two factors – the population share of retirees in a given area and the rate of home price increases, and judged how active those retirees will then be in the market next year. People aged 65 to 74 will likely comprise the third largest homebuying segment in 2016, after the Millennials and Gen Xers; in 2014, they accounted for 14 percent of all home purchases.

Here is realtor.com’s full top 10 list, which includes the median household income for 65- to 74-year-old head of households in 2015, along with the maximum affordable home price that those households heads could cover in 2016:

1. Boston
Median household income: $56,066
Maximum affordable home price: $235,952

2. Sacramento
Median household income: $54,929
Maximum affordable home price: $252,359

3. San Diego
Median household income: $58,535
Maximum affordable home price: $265,073

4. Sarasota, FL
Median household income: $52,792
Maximum affordable home price: $228,825

5. Fort Myers, FL
Median household income: $53,255
Maximum affordable home price: $233,047

6. St. Louis
Median household income: $47,647
Maximum affordable home price: $207,189

7. Virginia Beach
Median household income: $56,760
Maximum affordable home price: $259,780

8. Tucson
Median household income: $49,718
Maximum affordable home price: $230,802

9. Atlanta
Median household income: $49,178
Maximum affordable home price: $222,902

10. Knoxville, TN
Median household income: $42,512
Maximum affordable home price: $202,387

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