Bradenton/Sarasota tops for retirement
All good things must come to an end, otherwise, they wouldn't be good things. This quotation has been burned in my brain after a friend shared his mother's favorite expression with me. So what good things are there in our lives that we're happy to see end? How about our jobs?
For most of us retirement is a double edged sword. We're happy to leave the day-to-day grind of work, but sorry to give up the energy and accomplishments of our workplace. With three million Americans turning 65 this year, there are going to be a lot of people experiencing the good end of an important phase of their lives, and according to Portifolio.com, the place they should be starting the next phase of their lives is the Bradenton/Sarasota region of Florida.
Portofolio.com analyzed 157 cities to determine where seniors would like to retire, and even though only 4 percent of retirees expect to relocate, that's still 1.4 million people who will be looking for a lifestyle change. The criteria they used were based on several indicators that people over 65 are presumably looking for in a retirement area, with the highest scores going to areas where the population of seniors is already substantial and is growing rapidly.
Bradenton/Sarasota ranked first in the pack by a considerable margin based on the following: Nearly 27 percent of its residents are 65 or older, the fourth highest concentration of seniors in any market. That's more than double the national average of 12.9 percent. Bradenton/Sarasota has a median age of 45.1, which is the midpoint, with half of all residents being older and half being younger. The national median age is 36.8. Fully 95 percent of the seniors in Bradenton/Sarasota moved to Florida from another state, while only 63 percent of the elderly residents of a typical U.S. market were born out of state.
Naturally, cities with warm climates like Prescott, Ariz., Lake Havasu City, Ariz., Cape Coral/Fort Myers, Fla. and Naples, Fla. were all in the top five. In fact, out of the top 10, 7 of the cities were in Florida. Also, according to the study, seniors favor relocating to places that are user friendly to seniors with strong cultural ties and an abundance of health care.
This latest bit of information comes at the perfect time for our winter season real estate market, which is setting up to be a winner. Prices are at their lowest point, and although inventory is slowly being sold, there is still a lot to choose from. In addition, with interest rates having bottomed out, buyers who were on the fence are going to start getting serious.
There's a lot of money sitting on the sidelines waiting for this economy to get going, but retiring baby boomers may not be able to wait any longer. The 1.4 million who are getting ready to relocate are seeing this moment as the opportune time to make their move.
If you haven't already done it, e-mail and/or snail mail portfolio.com's analysis to everyone you know. Pass the word that we live in the best area of the country to retire, which also happens to have some of the best priced premium real estate in the country. Retirement can definitely be one of those good things that must come to an end in order for us to enjoy the next batch of good things – starting with life on Anna Maria.