U.S. Active Adult (55+) Community Market Projected To Raise At USD 805.0 Billion By 2030

 San Francisco, 19 June 2024: The Report U.S. Active Adult (55+) Community Market Size, Share & Trends Analysis Report By Gender (Women, Men), And Segment Forecasts, 2023 - 2030

The U.S. active adult (55+) community market size is estimated to reach USD 805.0 billion by 2030, expanding at a CAGR of 4.02% from 2023 to 2030, according to a new report by Grand View Research, Inc. The growing interest of older adults below 65 years of age in a maintenance-free lifestyle, structured activities, socialization, and a sense of community are the major factors driving the market. In addition, retirement not being in the eligibility criteria, and the variety of optional care and support services available at these facilities are the factors boosting the market growth.

An increasing population aged between 55 to 64 years is categorized as active adults seeking a social and friendly environment. According to the U.S. Census Bureau, baby boomers aged between 55 and 73 have brought both challenges and opportunities to the economy, infrastructure, and institutions. Active adult communities are quite similar to any other residential community, apart from their age restrictions, most of them are designed for a low maintenance lifestyle. These communities are mostly built near shopping malls, parks, restaurants, and other places for socializing, as the residents want to live a healthy lifestyle during their final years of retirement. The communities do not provide on-site dining facilities or healthcare services to the residents. The Homeowners Association (HOA) dues of these communities pay for assured communal amenities.

The COVID-19 pandemic resulted in senior living facilities becoming a hub for COVID-19 infections. This resulted in a fall in occupancy in adult community homes. The immediate impact was the drop in revenue of the adult community market, resulting in losses. According to the National Investment Center for Seniors Housing & Care’s MAP Data, the occupancy at retirement centers hit a 16-year low in 2020 due to the pandemic. The pandemic has also resulted in a staffing crisis for the active adult living communities due to restrictions on the workforce and the non-availability of a quality workforce for the amenities, resulting in a challenge in providing the best services for restaurants, clubs, housekeeping, and others. In addition, many elder staff members retired due to the pandemic.

Access Research Report of U.S. Active Adult (55+) Community Market @ https://www.grandviewresearch.com/industry-analysis/us-active-adult-community-market

U.S. Active Adult (55+) Community Market Report Highlights

• People in the U.S. buying homes at active adult retirement communities look forward to various amenities like sports, restaurants, clubs, & recreational activities among others. Common areas are the most important amenity in demand by seniors because they all have different hobbies and want to spend each day engaged & content
• By gender, women held the maximum share in 2021 attributed to a greater life expectancy for women. The men segment is expected to witness a high CAGR during the forecast period attributed to the postponement of disability to older ages
• Strategic initiatives undertaken by various market players are expected to keep growth prospects upbeat in the following years. For instance, in December 2019, The Villages announced a partnership with the University of Florida, aimed at facilitating advanced healthcare & wellness services for the village community
• There are different types of active adult communities based on the population, including luxury communities, college town & university communities, retirement parks, golf and resort communities, religion-specific communities, active senior communities, single-only communities, and gated communities. The college town and university communities are more preferred among older people who want to continue working
• The increasing number of retirements since the COVID-19 pandemic, growing life expectancy, and rising focus of investors on senior living are factors driving the entry of new players

U.S. Active Adult (55+) Community Market Report Scope

Report Attribute	Details
Market size value in 2023	USD 611.1 billion
Revenue forecast in 2030	USD 805.0 billion
Growth Rate	CAGR of 4.02% from 2023 to 2030
Base year for estimation	2022
Historical data	2017 - 2021
Forecast period	2023 - 2030

List of Key Players of the U.S. Active Adult (55+) Community Market

• The Villages
• Pultegroup, Inc.
• Latitude Margaritaville
• Hot Springs Village
• Rossmoor Walnut Creek
• Robson Ranch
• Sun Lakes
• Green Valley

Access Press Release of U.S. Active Adult (55+) Community Market @ https://www.grandviewresearch.com/press-release/us-active-adult-community-market-analysis

 About Grand View Research

Grand View Research is an India & U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services.

For More Information: https://www.grandviewresearch.com/horizon