Baby Boomers: The Untapped Market for Mid-Term Rentals

Baby Boomers: The Untapped Market for Mid-Term Rentals

 

As America keeps changing, so do the needs and preferences of its residents. 

One group that stands out in this respect is the baby boom generation. 

These folks were born between 1946 and 1964 and are now hitting retirement age

with around 10,000 individuals joining the ranks each day.

Pretty impressive, huh?

Hey, did you know that recent stats show that a big chunk, around 54%,

of baby boomer homeowners have fully paid off their homes?

Yep, no mortgage payments! It's definitely a sign of financial stability for this generation. 
But you know what? It also opens up some interesting opportunities in the housing market. 
As these baby boomers retire, they're exploring alternatives to traditional homeownership. 
One option they're considering is renting out their homes for shorter periods of time. 
This kind of mid-term rental offers them flexibility and convenience without being tied down for the long haul. Pretty smart move, don't you think? Investors may want to focus on mid-term rentals for baby boomers due to their specific needs and preferences. Unlike younger age groups, baby boomers tend to prioritize a combination of affordability and convenience when selecting a home. This can involve features like one-story layouts, showers,grab bars for individuals with disabilities,and wider doors to accommodate mobility aids. At Corporate Rentals USA by Hestia,we have personally witnessed the profound effect of catering to these particular needs. Our transformation of the Hestia Home for the Handicapped to meet the accessibility standards of the boomer population allowed us to secure a monthly rental price of $10,500.  This successful endeavor highlights the promising opportunities within this market segment. Additionally, investing in mid-term rentals targeting baby boomerscan serve as a strategic key for investors looking to explore assisted living strategies in the future. As this demographic continues to age, the demand for specialized housing optionssuch as assisted living facilities is expected to increase significantly.By establishing a presence in the mid-term rental market now,investors can capitalize on this growing trend for years to come. Investors seeking to explore future assisted living strategiescan strategically invest in mid-term rentals that cater to baby boomers. The aging demographic is anticipated to drive a substantial increase in demand for specialized housing options like assisted living facilities. By entering the mid-term rental market today,investors can leverage this upward trend for long-term gains.