Steve Ladurantaye
sladurantaye@zondahome.com
Zonda’s proprietary Baby Chaser Index shows 25% of Baby Boomer households plan to retire near their children and grandchildren – a trend that underscores a demographic shift where the younger generation’s migration patterns directly influence those of their parents.
“As Millennials seek to establish roots and grow their families, they are gravitating toward markets that offer a blend of affordability, job opportunities and lifestyle amenities,” says Ali Wolf, Zonda’s chief economist. “Meanwhile Baby Boomersare beginning to make moves that reflect their changing needs.”
More Baby Boomers are moving to Austin to be closer to their children and grandchildren than to any other city in the United States. It’s the fourth out of five years that the Texas hotspot nabbed the No. 1 spot in Zonda’s Baby Chaser Index – a proprietary data set that tracks Baby Boomers movements in relation to their Millennial offspring. Three of this year’s Top 10 cities are in Texas.
Among the report’s findings:
- Austin retained its top spot, despite challenges like rising living costs and a softening tech sector. The state capital continues to draw millennials and has a growing Boomer population, attracted by its labor market and Texas Hill Country lifestyle.
- Charleston climbed to No. 2 in the rankings and saw the second-highest year-over-year growth in its Millennial population (2.6%).
- Jacksonville secured the No. 3 spot, driven by a year-over-year increase in millennials and strong long-term migration patterns.
- Dallas and Raleigh round out the Top 5.
Read the full article, including data tables and commentary, as published by BUILDER.