Baby boomers flock to Arizona for retirement
More baby boomers are moving to Arizona as they retire.
A 2023 study that examined retiree migration found that Arizona is one of the top destinations for seniors. Florida and South Carolina were also popular choices.
California, New York and Illinois lost the most migrating adults born between 1946 and 1964.
Researchers found that affordability is one of the primary drivers behind the trend. The fear of a recession and an increase in living costs has forced many to explore new and more affordable retirement options, especially for those on a fixed income.
The National Association of Realtors says baby boomers are the market’s largest home-buying group. The generation accounted for about 39% of all transactions between July 2021 and June 2022.