Baby Boomer Trends for Senior Living
By WATG
July 23, 2024
The baby boomer generation, the largest generation ever, brings a unique set of expectations and desires as they transition into their senior years. Unlike the silent generation, often characterized as thrifty, humble, and modest, Baby Boomers are known for their exacting, self-confident, and independent nature.
About 19 million people belong to the Silent Generation (born 1928-1945), they are the senior living customers of today. Compare that to the 70 million Baby Boomers (born 1946-1964) just starting to enter the pool of potential residents. That’s 21.35% Silent Generation compared with 78.65% Baby Boomers. (U.S. Census Bureau, 2020)
Baby Boomer numbers in senior living communities are expected to double from today’s levels to 44.2 million by 2039. This presents an unprecedented opportunity to redefine senior living, moving away from an outdated perception of senior communities. By understanding and catering to the attitudes and cultures of baby boomers, the industry can create vibrant, enticing lifestyles that offer a variety of options and innovative experiences, ensuring a healthy and meaningful life for many years to come.
This complimentary paper was compiled by Daun St. Amand and Natalie Ruiz, WATG’s Luxury Senior/Later Living experts. See more Senior/Later Living insights here.
Download the full article here:
Daun St. Amand
Managing Principal, Luxury Multifamily Residential and Senior Living
Daun St. Amand
Managing Principal, Luxury Multifamily Residential and Senior Living
Natalie Ruiz
Associate Principal, Luxury Multifamily Residential and Senior/Later Living
Natalie Ruiz
Associate Principal, Luxury Multifamily Residential and Senior/Later Living
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