Texas Active Adults (55+) Community Industry Overview
The Texas active adults (55+) community market size was valued at USD 29.6 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 4.42% from 2021 to 2028.
The sense of community that exists among the inhabitants of a senior living facility differs significantly from that of a normal stand-alone residential neighborhood. One of the major advantages of living in a 55+ community is that this emotion may have a tremendous impact on a person's well-being and quality of life. This is boosting its demand in Texas. Seniors move to active adults communities to involve themselves in different physical and recreational activities, which is a key factor driving the market. By emphasizing lifestyle over health care, senior living facilities are an appealing choice for providing an independent, wellness-centered environment. The majority of the inhabitants are baby boomers, who range in age from 56 to 76 years and have a very different perspective on retirement than earlier generations.
Gather more insights about the market drivers, restrains and growth of the Texas Active Adults (55+) Community Market
In the last several years, the senior living facilities or retirement homes have earned a significant demand and investment attractiveness in the senior housing industry. This is due to an increase in the desire for independent and maintenance-free living among those aged 55 to 64. Active adults housing is a type of multifamily rental housing designed specifically for younger elders. Moving to such a community generally involves downsizing, which means less room to maintain and keep clean, and a lower chance of falls and other health issues. Many seniors choose a one or two-bedroom apartment with no steps and everything they need close at hand. Living in a 55+ planned area is often comparable to buying a house or apartment in any planned residential society. Many seniors consider a property in a 55+ community to be an investment, or they may utilize the proceeds from the sale of their previous home as a down payment.
Many active adults (55+) communities provide optional care services to the residents based on their requirements. Factors such as the growing income of the senior population, increased life expectancy, and the desire to live in an independent living facility for a maintenance-free lifestyle are expected to fuel the market growth in Texas.
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- U.S. Active Adult (55+) Community Market - The U.S. active adult (55+) community market size was valued at USD 565.3 billion in 2021 and is anticipated to expand at a compound annual growth rate (CAGR) of 4.01% from 2022 to 2030. Increasing demand from baby boomers, reduction in the stigma of retiring, and growing interest of investors in senior living facilities are driving the market.
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Texas Active Adults (55+) Community Market Segmentation
Grand View Research has segmented the Texas active adults (55+) community market on the basis of the city:
Texas Active Adults (55+) Community City Outlook (Revenue, USD Million, 2016 - 2028)
- Dallas
- Houston
- San Antonio
- Austin
- Others
Market Share Insights
- September 2021: Cadence McShane Construction Co. has been chosen by the City of Beaumont Housing Authority, in collaboration with Brinshore Development, to construct Century Heights, an active adults community in Beaumont, Texas.
- June 2021: A subsidiary of Livingston Street Capital, a boutique private equity firm concentrating on commercial real estate investments across the U.S., purchased a 180-unit active adult community in the Lewisville submarket of Dallas-Fort Worth.
Key Companies profiled:
Some prominent players in the Texas active adults (55+) community market include
- PulteGroup, Inc. (Del Webb)
- Robson Resort Communities
- CountryPlace
- Heritage Ranch Golf & Country Club
- Sunshine Country Club Estates (SCCE) Retirement Community
- Shea Homes Design Studio
- Avatar Holdings
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