Believe it or not, not all old people like knitting and bingo — like the rest of us, they have differing hobbies and interests beyond the stereotypical.
And with baby boomers entering their golden years, that means 70m+ Americans now have plenty of time to pursue their passions. It also means many either are or will soon be looking for senior living accommodations.
That’s why a swelling number of niche retirement communities are popping up to cater to them and other like-minded retirees, per The New York Times.
From Jimmy Buffett fans to pottery enthusiasts….
… there’s something for everyone.
- Beach bums: Latitude Margaritaville provides a resort-like lifestyle complete with tiki huts, poolside bars, beach access, and social events like foam parties. Latitude’s first location, launched in Florida in 2018, hosts 7k Parrotheads and is fully sold out. It now has three locations, with plans to expand.
- Creative types: Burbank Senior Artists Colony, a retirement community located near Hollywood, offers a performing arts theater, writing workshops, and art studios for the creatively inclined.
- Lifelong learners: Mirabella at Arizona State University, launched in 2020, houses seniors (the geriatric kind) in a 20-story apartment building on campus, and lets them take classes, participate in mentorship programs, and access the school’s facilities and events.
It’s one of ~100 university-based retirement communities, which have emerged as struggling institutions grapple with low student enrollment and tight budgets.
Others include ones specific to religion, sexual orientation, and politics, as well as retired postal workers, horse lovers, Disney adults, yogis, and more.
Old is gold
These niche communities, which represent a small but growing portion of the ~50k senior living facilities in the US, don’t come cheap.
- Rates for Latitude Margaritaville’s Daytona Beach location begin at $300k, while Mirabella’s entry fees range from $470k to $2.5m+ on top of monthly fees of ~$5k-$8.3k.
- Whereas, the median monthly cost of assisted living is ~$6k in the US.
But this generation of old-timers is America’s largest and richest-ever, sitting on a collective $82T fortune and holding half of the country’s wealth.
So it makes sense that their unique needs and desires are being answered with curated options — even if waking up to “Cheeseburger in Paradise” every day sounds like a nightmare to us.
Aging