Gen X is following Baby Boomers to Retirement Friendly Locations
The US population is experiencing a very unusual shift. Gen X, defined as those ages 45- 54 years old, have been steadily relocating to more “retirement friendly” locations. This trend began in 2022 and has increased consistently for the past 2 years.
Experts have identified that these professionals are leaving the big cities like New York, Los Angeles and Chicago in droves. The interesting twist to this is that these people are often still working. They have taken advantage of the financial relief that areas like Florida and Texas can offer in the way of a lower overall cost of living. The data reveals that many are still working remotely.
As of 2023, Horry County, SC hit the list of top 25 counties that have experienced this most significant migration. What’s noteworthy about this trend is that Gen X residents have accumulated some wealth and are willing to spend it. This should be a catalyst for a strong local economy.