Raghuraj Panchabhai

dailygram The U.S. active adult (55+) community market size is estimated to reach USD 805.0 billion by 2030, expanding at a CAGR of 4.02% from 2023 to 2030, according to a new report by Grand View Research, Inc. The growing interest of older adults below 65 years of age in a maintenance-free lifestyle, structured activities, socialization, and a sense of community are the major factors driving the market. In addition, retirement not being in the eligibility criteria, and the variety of optional care and support services available at these facilities are the factors boosting the market growth. An increasing population aged between 55 to 64 years is categorized as active adults seeking a social and friendly environment. According to the U.S. Census Bureau, baby boomers aged between 55 and 73 have brought both challenges and opportunities to the economy, infrastructure, and institutions. Active adult communities are quite similar to any other residential community, apart from their age restrictions, most of them are designed for a low maintenance lifestyle. These communities are mostly built near shopping malls, parks, restaurants, and other places for socializing, as the residents want to live a healthy lifestyle during their final years of retirement. The communities do not provide on-site dining facilities or healthcare services to the residents. The Homeowners Association (HOA) dues of these communities pay for assured communal amenities. The COVID-19 pandemic resulted in senior living facilities becoming a hub for COVID-19 infections. This resulted in a fall in occupancy in adult community homes. The immediate impact was the drop in revenue of the adult community market, resulting in losses. According to the National Investment Center for Seniors Housing & Care’s MAP Data, the occupancy at retirement centers hit a 16-year low in 2020 due to the pandemic. The pandemic has also resulted in a staffing crisis for the active adult living communities due to restrictions on the workforce and the non-availability of a quality workforce for the amenities, resulting in a challenge in providing the best services for restaurants, clubs, housekeeping, and others. In addition, many elder staff members retired due to the pandemic. U.S. Active Adult (55+) Community Market Segmentation Grand View Research has segmented the U.S. active adult (55+) community market based on gender. Based on the Gender Insights, the market is segmented into Women, and Men. The women segment dominated the U.S. active adult (55+) community market and accounted for the largest revenue share of 53.87% in 2022. The men’s segment is expected to emerge as the fastest-growing segment with a CAGR of 4.79% during the forecast period. The increasing life expectancy of men, postponement of disability to older ages, and an increased percentage of remaining life spent active are some of the major factors behind the fast growth of the men segment in the market for the active adult community. According to the U.S. Census data, 14.4 men in the U.S. aged 65 and above account for 5% of the U.S. population. The rapidly aging population, increase in life expectancy in men, and improved financial planning for retirement among men compared to women in the U.S. are factors driving the men segment. According to The U.S. Census Bureau, 8 % of retired men faced poverty in 2020 compared to 10% of women.    Key Companies & Market Share Insights The key players in the market are focused on providing the best homes along with top amenities & activities for residents. Providing access to healthcare services is the latest trend among active adult living communities. Latitude Margaritaville and The Villages provide healthcare services within the community. The communities are also focused on outdoor activities for residents for a better social environment for a healthy community. Expansion of facilities and partnerships are the preferred strategies adopted by top players, for instance, in December 2021, The Villages announced the expansion of its community by over 241 acres which were to include a new hospital. Some of the key players in the U.S. active adult (55+) community market include. The Villages Pultegroup, Inc. Latitude Margaritaville Hot Springs Village Rossmoor Walnut Creek Robson Ranch Sun Lakes Green Valley Order a free sample PDF of the U.S. Active Adult (55+) Community Market Intelligence Study, published by Grand View Research.   About Grand View Research Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.   Contact: Sherry James Corporate Sales Specialist, USA Grand View Research, Inc. Phone: 1-415-349-0058 Toll Free: 1-888-202-9519 Email: sales@grandviewresearch.com Web: https://www.grandviewresearch.com Follow Us: LinkedIn | Twitter