Q. Is the active adult apartment product successfully attracting and serving a younger and more active segment of the senior population?
A. Active adult apartments are attracting an age profile that is 10 years younger than traditional independent living but still 20 years older than the qualifying age requirement.
Several active adult housing products exist across the country, but the freestanding active adult apartment building is the product that currently is emerging in many markets. Although these apartments are restricted or targeted to the age 55+ or age 62+ population, the average age profile of the current residents at those communities is 72 to 74 years old. This is a decade younger than the average age profile of the traditional independent living resident but almost 20 years older than the qualifying age requirement for active adult housing.
Baby boomers make up the next generation of younger seniors, and they currently range in age from 57 to 76 years. The younger boomers appear to be exhibiting the “I’m not ready yet” syndrome — they are resistant to moving into and paying for a service-enriched living environment, and they may not have a clear understanding of the active adult lifestyle. They want to live independently until a move is needed — whatever that means to them — and there are no signs this is changing soon.
Having a clear understanding of the needs and motivations of the different age profiles of this target market will be necessary in developing and communicating a specific definition and market positioning for the active adult apartment lifestyle.
Lynne Moore is president of MDS Research Company Inc., a national senior living and healthcare consulting firm based in Fort Worth, TX, that has been serving clients for 48 years. MDS is a two generation company — she is following in Jim Moore’s footsteps. Ms. Moore is responsible for all MDS market research-related projects involving all aspects of senior housing and health care. Lynne Moore can be reached at (817) 731-4266 or [email protected].
This column appeared in the June 2022 print issue of McKnight’s Senior Living as “You’ve Got Questions . . . We’ve Got Answers.”
The opinions expressed in each McKnight’s Senior Living guest column are those of the author and are not necessarily those of McKnight’s Senior Living.
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