The U.S. active adult (55+) Community market size is estimated to reach USD 732.1 billion by 2027, expanding at a CAGR of 4.3%, according to a new report by Grand View Research, Inc. The growing interest of older adults below 65 years of age towards 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 are 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.
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U.S. Active Adult (55+) Community Market Report Highlights
• By gender, women held the maximum share in 2019 attributed to a greater life expectancy of women. The men segment is expected to witness a high CAGR during the forecast period attributed to postponement of disability to older ages
• Strategic initiatives undertaken by various market players are expected to keep growth prospects upbeat in the following years
• 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
• Strict regulations and licensing are expected to pose barriers to new entrants.
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U.S. Active Adult (55+) Community Market Segmentation
Grand View Research has segmented the U.S. active adult (55+) community market on the basis of gender:
U.S. Active Adult (55+) Community Gender Outlook (Revenue, USD Million, 2016 – 2027)
List of Key Companies of U.S. Active Adult (55+) Community Market
• The Villages
• The Pulte Homes Corporation
• Laguna Woods Village (LWV)
• Green Valley Recreation
• Holiday City – Berkeley
• On Top of the World
• Century Village
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About Grand View Research
Grand View Research is a market research and consulting company that offers market research reports, syndicated and customized reports. The company is headquartered in San Francisco, California. It offers client engagement for business consulting and market intelligence from various domains. The clientele is based across various countries with queries coming from more than 50 industries worldwide.
Grand View Research helps its clients to make informed decisions by helping them understand current trends and scenarios. Every year Grand View Research accomplishes more than 300 multi-country market studies to optimize consulting for clients.
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