Luxury 55+ Living

A Unique Solution: Active Adult Rental Communities

January 8, 2024

Luxury 55+ Living

A Unique Solution: Active Adult Rental Communities

As the housing landscape continues to evolve, one key trend is the rising popularity of active adult rental communities. Not only do these communities cater to the unique needs and preferences of 55 or better individuals, but they also play a crucial role in freeing up single-family housing inventory. Here are three insights that explore how the growth of active adult rental communities can open up new possibilities and contribute to a more dynamic and inclusive housing market–an important initiative for many cities and towns.

Flexibility in Living Arrangements

Active adult rental communities offer a flexible and attractive living arrangement for 55+ adults who may no longer wish to maintain a large family home. Downsizing is a natural step for many mid-lifers, and active adult rental communities provide an ideal solution that keeps this important demographic in your community. These communities offer downsizing (or rightsizing) without compromise, as they are often equipped with amenities, services, and social activities that enhance the overall quality of life. This flexibility allows them to explore new living options and makes way for younger families or individuals seeking larger homes.

Increases Density While Minimizing Strain on Public Services

Typically located in city centers or commercial districts, active adult rental communities increases density in already established areas helping cities and towns grow without sprawl. This is especially important for communities that are, or close to being, built out. Research shows that the 55+ age group is the wealthiest generation and holds up to 70% of the disposable income in the U.S. Consequently, active adult rental communities bring a critical mass of mid-life adults with disposable income to the area supporting local businesses and restaurants in the midst of already established infrastructure. Because of the density ratio to overall footprint, the impact on local public services, such as public works, police, and fire is minimal.

A Balanced Housing Ecosystem

A housing market that includes a variety of options is more likely to meet the diverse needs of its residents and offer accessible options for a broader range of individuals and families. Offering the 55+ homeowners desirable options for the next phase frees up single-family homes for families–helping to maintain a healthy available housing inventory and affordability. This diversity ensures that the available housing stock aligns with the needs and preferences of a changing population.

Active adult rental communities are not only revolutionizing the way 55+ adults approach living, but are also playing a transformative role in the broader housing market. By providing flexible, downsized options, cities and towns can provide important solutions to community housing shortages. As we embrace the evolving dynamics of the housing landscape, the rise of active adult rental communities opens up exciting possibilities for a more inclusive and adaptable housing market.

There is more to consider and HighGround’s experienced team is ready to explore opportunities for future shared success. Reach out to our team to talk more about the active adult housing option and if it could be the unique solution your community needs.