Summary
Some retirement towns across the United States are seeing a big drop in their older population, according to a report by GOBankingRates. The town of Truth or Consequences in New Mexico had the largest decrease, losing 25% of its senior residents over the past five years. This trend could affect local economies and housing markets in these areas.
Key Facts
- The report focused on towns with at least 20% of their population aged 65 and over and a minimum total population of 5,000.
- Truth or Consequences, New Mexico, saw a 25% drop in its senior population from 2018 to 2023.
- North Hills, New York; Oak Brook, Illinois; Fort Myers Beach, Florida; and East Cleveland, Ohio, are also in the top five for senior population decline.
- California had the most towns in the top 50 for decreasing retiree numbers, with 14% of the towns on the list.
- Fort Myers Beach, Florida, despite facing issues like rising insurance costs, remains popular but still saw a decline.
- Experts say rising living costs and a need to be near family are reasons seniors are moving.
- Overall population changes in these towns were minimal, indicating a specific decline in the senior age group.
