Q:

Is the demand for senior community apartments growing?

A:

Quick Answer

The demand for senior community apartments is growing. According to the Los Angeles County Community and Senior Services and the City of Los Angeles Department of Aging, the number of residents within the county over age 60 will double over the next 20 years. The demand for senior housing is high, and vacant units fill quickly. This has created a growing demand for affordable senior housing.

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Full Answer

In a Bloomberg article dated May 15th, 2014, real estate developers are betting big on U.S. housing for the elderly and are preparing for a surge in demand as the population of senior citizens almost doubles in the next 35 years. The baby boomer generation is beginning to retire and with that comes a demand for senior housing. Houston, Texas, for example, is seeing an increase in the population and is a relatively easy market for development. As this growth continues, so does the demand for and the construction of senior facilities.

One positive thing about senior living apartments is the mix of services that are provided. Typically, there are independent and assisted-living facilities with transportation services, meals, walking paths, housekeeping and exercise rooms. These amenities give seniors comfortable places to call home and help to provide a better quality of life.

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