NYC Residents Consider Retiring Outside of City, New Research from Broadview

More than half of older adults residing in NYC responding to a survey commissioned by Broadview Senior Living at Purchase College, are considering a move outside of the City to retire. A recent Forbes article underscores the exodus from NYC: “Tourists Are Not Coming and Residents Are Fleeing New York City.”

The Broadview survey, sent to age-qualified residents living in NYC and the surrounding area, was created to learn more about what older adults are seeking in a future home, lifestyle, value, health care and wellness.

Uncertainty about how the pandemic has affected various aspects of living in NYC, congestion, and convenience are factors that concern seniors looking to make a move. Respondents to the survey revealed that they are considering a move to a new home within the next five years.

While the housing market continues to heat up in the second half of 2020, the trends for living in smaller towns or suburbs are prevalent, according to the Realtors association.

“We found that a large portion of survey respondents plan to move for the stimulation, intergenerational activities and lifelong learning opportunities that would be available at a college campus community as well as moving for the fun and lifestyle,” said Ashley Wade, Broadview’s Director of Marketing.

“Many residents of senior living communities have indicated that they feel safe living in their retirement community and benefitting from the services that keep them protected, rather than having to venture out for basic necessities and being isolated the rest of the time,” Wade added.

65% of the NYC respondents stated that they plan to move only if they can be within easy commuting distance to the city and 85% of the non-NYC residents said they plan to remain in the Westchester County area during retirement.