A majority of retirees in the United States continue to remain in their pre-retirement homes, according to a recent survey, with many citing access to healthcare, transportation, and community ties as key factors influencing their decision to age in place.
The 2024 survey conducted by the Transamerica Center for Retirement Studies found that 62% of retirees stayed in the same residence after retiring. Among those who chose to move, motivations included proximity to family and friends (36%), downsizing to smaller homes (approximately one-third), and relocating to areas with a lower cost of living (around 25%). These trends echo anecdotal accounts from retirees who have relocated or remained in their communities for similar reasons.
In Northern Virginia, just outside Washington, D.C., one retired couple has opted to remain in their longtime neighborhood. Their decision was influenced by the close proximity—less than two miles—to a major hospital and numerous medical specialists, a convenience not found in many rural areas where appointments can require lengthy travel. Access to robust public transportation is another advantage; the couple’s home lies within walking distance of a Metro rail station and bus stops, with ride-sharing services also readily available. By contrast, some rural hometowns lack public transit entirely, making mobility challenging as residents age.
However, aging in place is not without its challenges. The couple notes the relatively high cost of living in Northern Virginia, compounded by property tax increases linked to rising home values. Although Virginia does not tax Social Security benefits, other forms of retirement income face rates up to 5.75%, with certain deductions available to eligible retirees.
Despite these obstacles, the couple views retirement as an opportunity for local engagement and personal enrichment. They are exploring regional parks, museums, and adult education courses, and cultivating stronger neighborhood connections. Community involvement also includes mutual assistance with seniors, fostering a supportive environment that they hope will benefit them in turn in the future.
Other retirees have made different choices, relocating across states to be nearer to family or to communities offering more affordable living. Some have moved into 55-plus residences to downsize and integrate into age-specific communities where volunteering and social support play significant roles.
The patterns revealed by the survey and personal experiences illustrate that while the allure of retiring overseas or in more distant locales exists, the practical considerations of healthcare access, transportation, social networks, and financial resources continue to drive many retirees to stay close to home. Nonetheless, flexibility remains important, as retirees assess changing circumstances and consider adjustments to their living situations over time.