In recognition of the growing population of senior citizens in Montgomery County with specific housing needs, the Montgomery Planning Department is soliciting this senior housing study to assess the market for this product type in the County and update previous studies done in 2001 and 2006.

The aging Baby Boomers, defined as people born between 1946 and 1964, are driving growth in the County's 65-plus population from about 120,000 residents, or 12 percent of the population, in 2010 to 221,000 residents, 19 percent in 2030 — a 58 percent increase over 20 years. By 2040 the number of seniors are expected to double compared to 2010. Not only will 1 out of 5 residents be 65 or older in 2040, the diminishing cohort of boomers will be frail elderly, ages 76 to 94 years old.

The swelling of the senior ranks by boomers with high home ownership rates (79 percent) and comprising almost half of all homeowner households in 2010 has the potential to transform the housing market in the County. Depending on the boomer's housing decisions and timing, the potential exists for a significant number of houses to enter the resale market as boomers choose to downsize, relocate in retirement, or eventually die. The market is showing signs of responding to senior demand. For example, new townhouse projects have included elevators, senior housing is being included as a component of larger mixed use developments, and older senior facilities are undergoing major renovations and redevelopment.

Alternatively, the baby boomer household may choose to age in place after postponing retirement, either by choice or financial necessity. If a significant number of seniors decide to age in place or delay moving out, these actions may depress housing turnover in the neighborhood, stalling the traditional "housing ladder" opportunity for young families to move into and revitalize the area.

Nationally, and locally, trends indicate that people desire to age in place. The local trend of aging in place was documented in an open access, non-scientific "Age Friendly Community Survey" of Montgomery County's 55+ population sponsored by the Commission on Aging in 2015. When asked whether they were planning to continue to reside in Montgomery County for the long-term, two-thirds of the respondents replied "probably" or "definitely" planning to stay in the County.

Coinciding with the potential for aging-in-place, senior villages — local, volunteer-led support network for community members choosing to age-in-place — are gaining popularity. There are 21 active senior villages and 9 villages in development. At the same time, the growth in the frail elderly population will necessitate an increase in assisted living for those who cannot live at home.