Rental Housing Options for Boomers in Evanston, IL
Consider it the American Dream Part 2. Baby boomers – the generation born between 1946 and 1964 – are trading the house in the suburbs for a rental community in downtown Evanston that offers more opportunities and less hassle.
After raising their kids; paying a mortgage and real estate taxes; and dealing with home maintenance, upkeep and improvements, they’re saying goodbye to homeownership and choosing the ease and convenience of a rental lifestyle.
According to a RentCafé analysis of the U.S. Census Bureau American Community Survey, between 2007 and 2017, the number of renters ages 60 and older increased 43%, to almost 9.4 million people, outpacing owner households and growing faster than other age groups. Experts say that number will continue to climb.
The good news? Baby boomers in Evanston, IL, have more rental housing choices than ever, including conventional apartments, senior apartments, active adult retirement communities and independent living communities. They only need to choose the one that best suits their needs and expectations. According to Maryl Petrie, Director of Sales and Marketing at Ten Twenty Grove, a rental senior apartment community in Evanston, IL, baby boomers have choices that can meet their needs today and in the future. “For active seniors looking for a rental community without any long-term commitment, Ten Twenty Grove offers the freedom and vibrancy of a rental community. She adds, “But as part of a continuing care retirement community, Ten Twenty Grove provides residents peace of mind knowing they have priority access to the healthcare services offered at our sister community, Westminster Place, if the need arises.”
Conventional rental apartments are plentiful in Evanston. Perfect for those who are retired as well as those who are still working, these apartments offer the choice of location and the ease of maintenance-free living. Seniors may want to move closer to the office and cut down commute time or choose a walkable location near shops, restaurants, recreational areas, gyms, culture venues and more. Because these apartment buildings are not age restricted, residents can expect to live amid younger people, families and peers. Apartment complexes vary: Some may have pools, exercise rooms and other amenities, while others simply offer your apartment and maintenance services.
For baby boomers who want independence plus a vibrant setting, an active lifestyle, and an opportunity to meet others with common interests, a senior apartment is the way to go. Senior apartments are age restricted, meaning they are exempt from renting to families with children under age 18 and are usually reserved for those 55+ or even 62+. That means a community filled with peers. The hallmark of senior apartments is the lifestyle. Residents enjoy maintenance-free living plus opportunities to learn, socialize, travel, exercise and more. According to Maryl, meeting new neighbors is easy. “We have a calendar of social activities and interesting events. Residents find it easy to connect with others who share their interests.”
Active Adult Retirement Communities
Active adult retirement communities come in a variety of shapes and sizes, from small free-standing homes to townhomes and apartments. Like senior apartments, they are age restricted. Residents enjoy maintenance-free residences and active lifestyles. These types of communities are adding amenities that reflect the expectations of today’s seniors. In addition to a variety of resort-style amenities, including pools and fitness centers, they’re adding more upscale features, such as dog parks, outdoor kitchens and pickleball courts.
Independent and Assisted Living Communities
Available in rental or buy-in options, independent living and assisted living communities are designed for the senior adult who may need a bit of support to remain living alone. These types of senior living communities typically offer dining services, 24-hour staff, housekeeping, laundry and linen services, social activities, and transportation to local shops and medical appointments. For residents who require supportive services, healthcare personnel are on site to provide medical care and personal assistance with activities such as bathing and dressing.
Which Rental Option Is Right for You?
Consider the following points when making your decision:
- Cost: Which option fits within your budget? Consider your current income and your retirement income. Also take into consideration any cost savings offered by the community you choose, such as maintenance-free living, on-site fitness center and amenities, and any utilities included in monthly rent.
- Location: Do you want to stay in the same town, move close to family members, or move to a new town? Is your community close to a hospital and doctors’ offices? Is it close to shopping, restaurants or cultural venues? Is transportation available?
- Changing Needs: How will a community meet your needs as they change over time? What happens if you need support services or long-term medical care? For example, as part of a Life Plan Community, Ten Twenty Grove residents have priority access to healthcare, including rehabilitation services, skilled nursing care and memory care at Westminster Place.
Discover Rental Senior Apartments in Evanston, IL
If you or a loved one is considering rental retirement living and would like to learn more about the rental apartments, services and amenities offered at Ten Twenty Grove, contact us today!