“You miss 100 percent of the shots you never take, and if you think it’s expensive to hire a professional to do the job, wait until you hire an amateur “ . ARE YOU READY TO SELL OR PURCHASE YOUR LAND OR COMMERCIAL BUILDING IN PHOENIX, SCOTTSDALE, MARICOPA COUNTY AND PINAL COUNTY, ARIZONA, CLICK HERE AND PLEASE CALL ME. 520-975-5207 or email me walterunger@ccim.net
Submitted by The Editors on Tue, 10/24/2017
Cities with largest increase in Baby Boomer renters / PHOENIX # 3
In all 20 largest U.S. metros in the study, without exception, the rate of increase in senior renters greatly surpasses that of younger renters.
The two largest gains were in the Los Angeles metro and New York metro. The Los Angeles metro gained 134,000 new senior renter-occupied households and lost 26,000 renter households under 34 years of age.
New York City gained an additional 124,000 renter households over 55 during this time period and about 54,000 under 34.
While Los Angeles and New York had the biggest numbers, the fastest growing areas Phoenix, Riverside and Tampa showed the biggest increases in Baby Boomer renters.
Here are the top 10:
Riverside, CA – 63%
Tampa, FL – 61%
Phoenix, AZ – 59%
Dallas – 46%
Seattle – 45%
Atlanta – 44%
Washington -44%
Denver – 43%
Minneapolis – 38%
San Diego – 33%
This Baby Boomer renter is interested to live in a place that offers a convenient, quality lifestyle, a comfortable living space, a place to exercise, and a place to socialize all-in-one.
“Whether driven by a change in lifestyle, a consequence of the housing crash, or an inability to downsize due to lack of affordable homes, senior households are embracing renting in droves,” according to RentCafe.com.
Some highlights of the Baby Boomer renters report:
- Between 2009 and 2015, the percentage of the renting population over 55 years old increased by a whopping 28% (vs. 3% increase in renters 34 or younger).
- By education, the biggest changes came from renters holding a bachelor degree or higher: up by 23% (vs. 17% increase in college graduates).
Renter households with no children saw the most significant percentage increase when looking at family type: up by 21% (vs. 14% increase in families with children).
Nationwide, the number of senior renter households saw a 2.5 million gain between 2009 and 2015, the largest net increase by age group, according to the study.
Baby Boomer renters choosing suburban lifestyle
Since 2009, 39% more Baby Boomer renters over 55 have chosen the suburban lifestyle for their rental housing.
Among the 20 largest metros in the US, Riverside boasts the highest percentage increase in terms of senior renter-occupied households (63%), while Los Angeles posts the biggest gain (approx. 134,000).
Comprised mostly of Baby Boomers, this generation has lived a big part of its life in the suburbs, essentially being responsible for the launch and prosperity of the consumer suburb. Owning a home and raising a family in a suburban community truly defined this age group. Now it finds itself in a big empty house, with too much space to keep up and high property taxes to pay. They are not moving into the city in an urban environment.
“Lowering living expenses, looking for a different lifestyle, less house-related work and overall less responsibility can be achieved by downsizing, so a lot of retirees opt to rent,” Simona Solomie, a real estate broker with Remax Masters of Morton Grove, Illinois, who works with home sellers, buyers, and renters in the western and northwestern suburbs of Chicago, told RentCafe in the study.
Baby boomers also account for the highest increase in renters in urban areas, but the spike in numbers is much higher in the suburbs (21% vs 39%). The second highest increase comes from renters aged 35-54, 27% in the suburbs and 8% in the city.
ARE YOU READY TO SELL OR PURCHASE YOUR LAND OR COMMERCIAL BUILDING IN PHOENIX, SCOTTSDALE, MARICOPA COUNTY AND PINAL COUNTY, ARIZONA, CLICK HERE AND PLEASE CALL ME. 520-975-5207 or email me walterunger@ccim.net
FROM ME:
Phoenix Commercial Real Estate and Investment Real Estate: Investors and Owner / Users need to really know the market today before making a move in owner user Commercial Properties, Investment Properties and land in Phoenix / Maricopa County, Pinal County / Arizona, as the market has a lot of moving parts today. What is going on socio-economically, what is going on demographically, what is going on with location, with competing businesses, with public policy in general — all of these things affect the quality of selling or purchasing your Commercial Properties, Commercial Investment Properties and Commercial and large tracts of Residential Land Therefore, you need a broker, a CCIM (Certified Commercial Investment Member) who is a recognized expert in the commercial and investment real estate industry and who understands Commercial Properties and Investment Properties. I am marketing my listings on Costar, Loop-net CCIM, Kasten Long Commercial Group. I also sold hundreds millions of dollars’ worth of Investment Properties / Owner User Properties in Retail, Office Industrial, Multi-family and Land in Arizona and therefore I am working with brokers, Investors and Developers. I am also a CCIM and through this origination ( www.ccim.com ) I have access to marketing not only in the United States, but also internationalClick here to find out what is a CCIM: https://en.wikipedia.org/wiki/CCIM
PLEASE CALL ME 520-975-5207 OR E-MAIL ME walterunger@ccim.net
ARE YOU READY TO SELL OR PURCHASE YOUR LAND OR COMMERCIAL BUILDING IN PHOENIX, SCOTTSDALE, MARICOPA COUNTY AND PINAL COUNTY, ARIZONA, CLICK HERE AND PLEASE CALL ME. 520-975-5207 or email me walterunger@ccim.net
WEEKLY APARTMENT CLOSING UPDATE THROUGH October 20, 2017 / Phoenix Arizona Metro.
Timeline of Arizona from 900 BC – 2017
WHY PHOENIX? AMAZING!!! POPULATION IN 1950 – 350 K PEOPLE; “NOW 5 MIL”. – “5TH. BIGGEST CITY IN USA”
DOT – LOOP 202 / SOUTH MOUNTAIN FREEWAY / PHOENIX AZ – UNDER CONSTRUCTION
ARIZONA FACTS – YEAR 1848 TO 2013
- DEMOGRAPHIC FACTS ABOUT MARICOPA COUNTY:
- The average age of the population is 34 years old.
- The health cost index score in this area is 102.1. (100 = national average)
- Here are some of the distributions of commute times for the area: <15 min (22.7%), 15-29 min (36.8%), 30-44 min (25.1%), 45-59 min (8.6%), >60 min (6.8%).
PHOENIX PROJECTED AS NUMBER ONE US HOUSING MARKET FOR 2017
LIST OF ECONOMIC DEVELOPMENT PROJECTS IN PINAL COUNTY, REVISED 2-14-17
Reasons to Consider me for Commercial Referrals – I have the Knowledge and Experience
Click here to View My Listings and Profile
Click here to find out what is a CCIM:
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Walter Unger CCIM – walterunger@ccim.net – 1-520-975-5207 – http://walter-unger.com
2016 Official Arizona Visitors Guide
Timeline of Phoenix, Arizona history
Facts of Arizona – year 1848 to 2013
Feel free to contact Walter regarding any of these stories, the current market, distressed commercial real estate opportunities and needs, your property or your Investment Needs for Comercial Properties in Phoenix, Tucson, Arizona.
1-520-975-5207
Check out my professional profile and connect with me on LinkedIn.
Kasten Long Commercial Group tracks all advertised apartment communities, including those advertised by other brokerages. The interactive map shows the location of each community (10+ units) and each location is color coded by the size (number of total units).
Walter Unger CCIM, CCSS, CCLS
I am a successful Commercial / Investment Real Estate Broker in Arizona now for 20 years. If you have any questions about Commercial / Investment Properties in Phoenix or Commercial / Investment Properties in Arizona, I will gladly sit down with you and share my expertise and my professional opinion with you. I am also in this to make money therefore it will be a win-win situation for all of us.
Please reply by e-mail walterunger@ccim.net or call me on my cell 520-975-5207
Walter Unger CCIM
Senior Associate Broker
Kasten Long Commercial Group
5110 N 40th Street, Suite 110
Phoenix , AZ 85018
Direct: 520-975-5207
Fax: 602-865-7461
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