How Baby Boomers In Kansas Are Shaping the Real Estate Market

In the quiet neighborhoods and sprawling countryside of Kansas, a generational shift is reshaping the housing market. From Wichita’s suburban developments to Kansas City’s metropolitan neighborhoods, from small college towns to farming communities, boomers’ housing choices are influencing availability, affordability, and community dynamics. Their collective decisions about where and how to live in their retirement years are reshaping housing patterns that will impact generations to come.

Boomers Dominate the Housing Market (2018-2023)

Baby boomers have become a dominant force in the Kansas housing market. Nationally, Americans over 55 held 54% of owner-occupied homes in 2023, up from 44% in 2008. Kansas reflects this aging-homeowner trend, with about 36.4% of Kansas homeowner households headed by baby boomers.

Boomers recently surpassed millennials as the largest share of home buyers nationwide, accounting for 39% of buyers between 2021-2022. This generational shift is evident in Kansas cities like Wichita and Kansas City, where seasoned homeowners with built-up equity have been actively purchasing homes while younger buyers struggle.

Several factors gave boomers an upper hand in 2018-2023:

• Many are repeat buyers leveraging decades of home equity and savings, allowing them to pay competitive prices or cash for properties
• Those who bought homes years ago saw substantial appreciation and could afford to right-size or upgrade
• Some have used this advantage to relocate into homes better suited for retirement—whether single-story houses with modern amenities or locations closer to family

At the same time, boomers comprised the majority of home sellers (53% nationally in 2021-22), often selling large longtime residences at a premium and either downsizing or moving to another community. In short, Kansas’s housing market activity in 2018-2023 was heavily driven by boomers on both the buying and selling sides, more so than a decade prior.

Where Kansas Boomers Are Moving: Urban, Suburban, or Rural?

The Aging in Place Phenomenon

One notable trend is that many Kansas boomers are not moving at all—they’re staying put as they enter retirement. Aging in place is by far the most popular plan among older Americans: over three-quarters (78%) of boomers in a 2024 national survey said they intend to remain in their current home as they grow older.

This pattern holds true in Kansas, where a large share of the over-60 population is “aging in place” in the homes and communities they know. That said, a minority of boomers are relocating, and their choices of urban vs. rural living vary based on lifestyle preferences and needs.

Rural Relocation Patterns

Nationwide, boomers have shown a propensity to settle in smaller communities or rural areas upon retirement. Younger boomers (late 50s to mid-60s) are the most likely of any age cohort to purchase homes in small towns or rural areas. Kansas’s low-cost rural counties are part of this trend.

Many rural Kansas counties have high median ages (in some cases 45-50+) because younger people have moved away while older residents remain. In a few spots, rural Kansas is actually attracting inbound retirees:

• Northwest Kansas has seen interest from “new” retirees and empty-nesters moving in
• These newcomers are drawn by the relaxed pace and affordable living
• There’s increasing demand for more downsizing-friendly housing options in that region

Areas with recreation opportunities or family ties can be especially appealing. A retiree who grew up in Kansas might return to a quiet hometown or a lakeside community for their golden years. These movers tend to prefer the subdued rural lifestyle, lower taxes, and familiarity that small-town Kansas offers.

Urban and Suburban Appeal

Urban and suburban areas still hold strong appeal, particularly for amenities and healthcare access. Kansas’s major population centers—the Wichita metro and the Kansas City metro (on the Kansas side)—have top-rated hospitals, specialists, and services that become increasingly important with age.

Some older adults in outlying rural areas relocate closer to cities to be near medical care or public services. As one report described, aging in a rural area can be “fraught with challenges” once health declines—hospitals are far, transportation is limited, and isolation can increase.

For these reasons, a boomer living on a remote farm may eventually downsize and move into the nearest town or into Wichita or Kansas City to be closer to doctors and family. Proximity to children and grandchildren is a major motivation in relocation decisions.

One study found this became a major theme in late 2010s—numerous boomers relocated specifically to be near adult children or to retire back in their home state near relatives. In Kansas, that could mean a retiree in another state moving to the Kansas City area to be near kids, or someone from western Kansas moving to Wichita where a son or daughter lives.

Lifestyle Considerations

Lifestyle preferences also play a role in where boomers move:

• Some seek the vibrancy and convenience of walkable urban districts—for example, a retiree from a Kansas farm might downsize to a condo in downtown Wichita or Kansas City to enjoy cultural attractions, restaurants, and reduced driving needs
• Others may do the opposite, trading city life for a quieter rural setting or smaller city

Nationally, popular retirement destinations for boomers tend to have warm weather or leisure amenities, which is why Florida, Arizona and the Phoenix suburbs top the list for boomer in-migration. Kansas obviously isn’t a Sunbelt climate, so it isn’t a magnet for out-of-state retirees on the scale of those states.

Instead, Kansas’s boomer migration is largely an intra-state affair: those who move often choose communities that balance comfort, cost, and closeness to what matters to them (family, friends, healthcare, or familiar surroundings).

Popular Boomer Communities

A few urban-adjacent communities in Kansas are noted as boomer-friendly:

• Overland Park (a suburb of Kansas City) frequently ranks as a great place to retire in Kansas due to its high quality of life, low crime, and abundance of services, parks, and shops in close reach
• Topeka, the state capital, has a relatively older population and very affordable housing costs (median around $924/month, one of the lowest among cities with large boomer populations), making it attractive for retirees on fixed incomes

In short, boomers who do move within Kansas often favor suburbs and mid-sized cities that offer a slower pace than big metros but still provide access to healthcare and amenities—places like Lawrence, Manhattan, or smaller cities in eastern Kansas can fit this bill.

Meanwhile, truly remote rural areas continue to see more boomers aging in place rather than new retirees moving in, with a few exceptions where recreation or nostalgia draw them.

Housing Choices: Downsizing, “Aging in Place,” or Upsizing?

As boomers enter retirement, a key question is whether they downsize to smaller homes or stay in their longtime houses. The overwhelming trend has been aging in place.

Surveys throughout the 2010s and 2020s show most boomers want to remain in their current homes for as long as possible. An AARP survey found 87% of boomers planned to age in place in retirement, and a recent Redfin survey confirmed nearly 78% of boomer homeowners intend to “stay put” rather than move.

In Kansas, where many boomers have paid-off mortgages and deep roots in their communities, this tendency is clearly visible. It’s common to find empty-nest couples in Wichita or Kansas City still living in the 4-bedroom family home long after the kids have left—sometimes because they simply love the home and neighborhood, and other times because moving wouldn’t significantly save money.

Often their current housing costs—old mortgage or property tax basis—are quite low, so buying a newer smaller house might actually raise expenses. Aging in place often means these boomers are not freeing up those larger houses for younger families, which contributes to the tight housing inventory.

Why Boomers Stay Put

Why are so many boomers staying put? Financial incentives are a big reason:

• After years of rising home values, property taxes in Kansas are relatively moderate
• Many boomers carry little or no mortgage debt, meaning their monthly housing costs are manageable
• If they sold and bought a newer condo or townhouse, they’d face today’s high prices and, if financing, much higher interest rates

The recent spike in mortgage rates has discouraged would-be downsizers: homeowners who locked in ultra-low interest rates (often under 3%) during 2020-21 are reluctant to sell and take on a new mortgage at 6-7%. Redfin notes that many of those staying put with low rates “are baby boomers.” This rate lock-in effect became very pronounced by 2022-2023.

Additionally, Kansas has programs that freeze or reduce property taxes for seniors in some cases, further reducing the incentive to move. Beyond finances, there are emotional and practical motivations:

• Boomers have strong attachments to their homes and communities
• After 30+ years in the same house, moving can be daunting
• Many have remodeled their houses to suit their tastes and needs over time

Unless health or mobility issues force a change, they often prefer to “age in place” where they have support systems. As one housing expert poignantly asked, “Is it aging in place, or is it stuck in place?”—acknowledging that some older owners might move if suitable, affordable retirement housing were available, but in many communities it isn’t.

Downsizing Trends

That said, a portion of Kansas boomers do downsize or relocate in retirement. Nationally, about 1 in 5 boomers anticipated wanting a smaller home for retirement (to reduce upkeep and cash out equity) according to surveys in the mid-2010s.

During 2018-2023, those boomers who chose to move were indeed likely to downsize or “right-size.” The National Association of REALTORS® found that among older sellers (ages 69-77), the most common move was into a smaller home—these empty-nesters shed extra space that was no longer needed.

In Kansas, downsizing boomers often seek homes with:

• Fewer stairs
• Less yard maintenance
• Accessible design

Many opt for single-story ranch houses, patio homes, or condos that are easier to manage. For example, in the Wichita area, real estate professionals report strong demand for smaller footprint, lower-maintenance homes from retiring boomers. The same trend is seen in Topeka, where there is unmet demand for townhomes or cottages that allow seniors to downsize without leaving their community.

Senior Communities

Some retirees are moving into dedicated 55+ communities or senior living complexes, though those represent a minority (only ~20% of boomers nationally say they’d consider a 55+ community).

Kansas has a handful of 55+ active adult communities—mostly in suburbs of Kansas City and Wichita—and these have attracted boomers looking for a ready-made social network and amenities like lawn care or a clubhouse. However, availability is limited, and often these can be as expensive as regular housing.

Affordable senior apartments or assisted living facilities are also in short supply in Kansas relative to the growing need, which means some boomers have to stay in their single-family homes longer because there aren’t a lot of alternative housing options in their area.

Market Impact of Aging in Place

In sum, “aging in place” is by far the prevailing boomer housing strategy in Kansas, which has kept many larger family homes off the market. Those who do move are usually taking advantage of healthy housing equity to downsize into easier-to-maintain homes, often in the same region.

Both of these behaviors—staying or downsizing locally—result in low geographic mobility among boomers. U.S. Census data showed homeowner tenure (years in the same home) hit record highs partly because over half of boomers have lived in their home 10+ years and aren’t budging.

This has contributed to the constrained supply of homes for sale. In fact, the U.S. is experiencing historically low housing inventory, and demographers point to boomers aging in place as a significant factor.

Kansas exemplifies this trend: from 2020-2022, Kansas had less than one month’s supply of homes on the market on average (one of the lowest inventory levels in the nation). Stubbornly low inventory, in turn, drives up prices and makes it harder for would-be buyers to find homes—creating a feedback loop that further discourages some boomers from selling (since there’s nowhere obvious to go).

Key Motivations: Why Boomers Make Their Housing Choices

Understanding why baby boomers make the housing choices they do (whether to move or stay, and where) requires looking at their core motivations:

Financial Considerations

Money is a powerful motivator. Many boomers have seen their home equity soar over the past decade amid rising prices. This wealth gives them options:

• Some cash out and reward themselves with a dream home for retirement (e.g., a lakefront property or a house with space for hobbies)
• Others stay put to avoid new costs
• Boomers who do relocate often choose areas with a lower cost of living or favorable taxes

For example, a retiree moving from a high-tax state or large city to affordable Kansas can significantly cut expenses. Within Kansas, a boomer in Johnson County might sell their pricey suburban home and move to a cheaper small town, freeing up equity for retirement.

On the flip side, plenty of Kansas boomers have modest incomes and are concerned about outliving their savings—for them, keeping the house they’ve already paid off is the most economical choice. Surveys indicate that many boomers don’t feel pressure to move because their current housing costs are comfortable; 78% of Gen X/Boomer homeowners nearing retirement said they see no reason to move, having invested so much into their home and enjoying low expenses there.

In short, unless moving presents a clear financial gain (or necessity), most will stay.

Proximity to Healthcare

As people age, being near quality healthcare becomes crucial. Kansas boomers weigh this heavily. Those in rural areas often face hospital closures or long drives for specialized care.

It’s not uncommon for a Kansas farm couple to retire into town (perhaps to the nearest regional center like Hays or Topeka) to have a hospital nearby. Likewise, being in a city like Wichita with multiple hospitals and doctors can be a relief compared to a remote county with limited services.

Accessibility needs also drive housing choices—many boomers begin to seek homes with accessible features (no-step entries, first-floor master suites, etc.) to age safely. Some will renovate their current homes to add grab bars and ramps; others might move to a newer ranch home that already has an open, single-level layout.

In Kansas, where a lot of the housing stock is older, there is a shortage of homes with universal design. This has led some seniors to move into newly built homes or condos that cater to senior accessibility. In essence, health considerations push boomers either to retrofit their homes or relocate to more suitable housing, often closer to medical hubs.

Family and Social Connections

Family ties are one of the strongest pulls influencing boomer moves. Many Kansas boomers have adult children who have moved to cities (Kansas City, Denver, Dallas, etc.). Upon retirement, some boomers choose to move closer to their kids and, especially, their grandkids.

Having family support nearby not only enriches daily life but can be a safety net as they age. We see examples of this in Kansas:

• A retiree in western Kansas might move to the Kansas City metro to be near children who settled there
• Adult kids return to Kansas because grandparents stayed

In other cases, boomers stay in the same town because their family is local—they may not love the winter cold or the big house, but they aren’t leaving the grandkids’ hometown.

Beyond immediate family, boomers consider their social network. Close friendships and community involvement (church, clubs, volunteering) can root someone in place. According to the Kansas Statewide Housing Assessment, many older Kansans expressed interest in housing options that keep them near friends—for instance, a shared-maintenance patio home neighborhood in their same community.

Only a small fraction (about 8% in the Redfin survey) consider moving in with adult children, but multigenerational living is chosen by some, and 18% of older boomer home buyers recently purchased a multigenerational home to accommodate aging parents or returning children. Culturally, the desire to remain close to loved ones is a top priority and often overrides other factors when boomers plot their retirement housing.

Lifestyle Preferences

After decades of work, boomers often see retirement as the time to align their housing with their ideal lifestyle. For some, that means downsizing to simplicity—a smaller, easy-to-clean home that frees them to travel, pursue hobbies, or spend winters in a warmer climate.

Others actually upsized or made lateral moves to get their “forever home” in retirement: if financially able, a boomer might buy a house with a big workshop, a sprawling garden, or on a golf course to enjoy a passion.

In Kansas, a modest example might be moving from an older home to a new construction home with a custom kitchen, or from a suburban lot to a few acres in the country for privacy. According to NAR research, boomers are more likely than younger buyers to say they’re buying their forever home—they won’t be moving again.

They also prefer newer homes on average (the typical home purchased by a boomer in 2022 was built in 1996, much newer than what millennials bought) because they want to avoid the hassle of renovations and old-house problems. This indicates a lifestyle preference for comfort and low-maintenance living.

Some boomers seek communities with recreation and culture—for instance, college towns like Lawrence can be attractive for retirees who want access to classes, sports, and arts (this is sometimes called “aging in place… in a college place”). Others prioritize walkability and transit, especially if they anticipate driving less.

A retiree might choose a location near a grocery store, park, or their church so they don’t have to rely on cars as much. Finally, climate does factor into lifestyle: while a few hearty Kansans plan to stay through snowy winters, others become “snowbirds,” spending winters in Arizona or Texas.

These seasonal movers typically keep their Kansas home (or a smaller condo) as a summer base and go south in winter, thereby still aging in place part-time. Overall, boomers’ housing decisions are guided by the life they want to lead post-career—whether that’s active and community-oriented, or peaceful and private—and they will choose the home and location that best facilitate that vision.

Comparing 2018-2023 to 2008-2017: Shifts in Boomer Preferences

The housing choices of baby boomers in Kansas from 2018 to 2023 have in many ways continued trends from the prior decade, but there are some notable shifts in preferences and circumstances compared to 2008 to 2017.

Post-Recession Recovery

The late 2000s through mid-2010s were heavily shaped by the housing market crash and Great Recession, which temporarily altered boomer behavior. In the aftermath of the 2008 downturn, many boomers delayed downsizing or selling because home values had plummeted and they didn’t want to sell at a loss.

Instead, they “hunkered down” and waited for the market to recover. This contributed to an increase in homeownership retention rates among seniors during that period—fewer older homeowners moved than historically expected.

By the mid-2010s, as prices recovered, boomers’ confidence grew and some who had put off retirement moves started to act. We began to see more downsizing around 2015-2017 once boomers could again sell at a profit. However, even in 2008-2017, the majority of boomers were still staying put. Their stated desire to age in place has been consistent.

The difference is that in the late 2010s, a larger cohort of boomers finally reached typical retirement age (65+), bringing these issues to the forefront.

Market Dominance

One clear change in the 2018-2023 period is the dominance of boomers in the housing market, whereas the previous decade’s narrative often focused on millennials.

From roughly 2010 to 2017, millennials were coming of home-buying age in large numbers and, despite challenges, by the mid-2010s they became the largest share of home buyers. In Kansas and nationally, millennials were the driving force in home sales from around 2014 up until 2022.

Boomers, meanwhile, were more often sellers or simply staying put during those years. But as we entered the 2020s, this flipped: boomers edged out millennials as the top buying cohort.

Between July 2021 and June 2022, boomers made 39% of U.S. home purchases, up from 29% the year before. This reversal is partially due to demographics (more boomers are in late 50s to 70s now, prime time for retirement moves or second-home purchases) and partially economics—boomers were better insulated from the crazy price run-ups and interest rate spikes of the early 2020s.

Many had substantial equity and could buy despite high prices, whereas younger buyers struggled with affordability. So, compared to 2008-2017, the late 2010s/early 2020s saw boomers taking a more active role as buyers, not just sellers.

In Kansas, where housing remained relatively affordable through the 2010s, a number of boomers seized the opportunity of low interest rates in 2018-2020 to purchase retirement homes or investment properties (some bought homes for their kids or a vacation cottage at a lake). When rates rose in 2022, boomers were in a better position to weather it—often buying with cash or large down payments—whereas a decade earlier in 2009, it was boomers who were more cautious and millennials who benefitted from low rates.

This generational shift in market power is a key difference between the two periods.

Changing Motivations

Another shift is in motivations and mindset. In the late 2000s, many boomers were in their 50s and early 60s, perhaps still with children at home or in college, or still focused on their careers. Their housing decisions were often about staying near jobs or holding onto a house for a few more years until retirement.

By 2018-2023, boomers were largely past those life stages—the youngest boomers were nearing 60 and the oldest were late 70s. Retirement became a reality for the bulk of the generation, bringing their housing preferences more in line with traditional retirement needs.

For example, demand for single-story homes, smaller yards, and senior-friendly features likely increased in the 2018-2023 period compared to 2008-2017, simply because more boomers hit age 70+ when such features become important. The Kansas housing assessment found growing interest in “smaller and lower maintenance options” among older households, particularly in the last few years—a theme that might not have been as pronounced in 2008 when boomers were younger.

Likewise, proximity to family gained importance. In earlier years, boomers might have been more tied to where their jobs were. After 2018, we see more choosing location based on family or quality of life (e.g., moving to be near grandchildren, even if that means leaving a long-time hometown).

The “dream home” mentality also emerged more in the late 2010s. During 2008-2012, people were in survival/recovery mode regarding housing. But by the housing boom of 2020-2021, many boomers felt financially secure enough to pursue their ideal home for retirement. Some built custom homes or relocated to their version of paradise (within or outside Kansas).

In short, the economic upswing of the late 2010s gave boomers options that didn’t exist in the post-crash years, and many took advantage of that to shape their retirement lifestyle.

Market Conditions

It’s also worth noting how housing market conditions differed and influenced boomer behavior. In 2008-2017, mortgage rates were generally falling or low (especially by mid-2010s), and housing inventory was more ample (aside from the immediate bust when new construction halted).

Boomers who wanted to move could find smaller homes fairly easily and finance them cheaply. However, a lot of boomers still didn’t move en masse during that time—they hadn’t all retired yet, and those who did often found that downsizing wasn’t sufficiently beneficial.

Fast forward to 2018-2023: initially, conditions were great for move-up or downsizing buyers (very low interest rates through 2020, and a strong sellers’ market to cash out into). But the pandemic-era boom created rapid price inflation, which paradoxically made downsizing less attractive—selling a large home high, but then paying high for a smaller home, sometimes with little net savings.

Then the 2022 rate spike made many boomers essentially freeze in place. Housing turnover slowed to a trickle because nobody wanted to trade a 3% mortgage for a 7% one. This unique scenario has amplified the aging-in-place trend beyond what we saw in the early 2010s.

Inventory data show that by 2023, the supply of homes on the market was near record lows nationwide. A decade prior, in 2013, there was still more churn in the market. Thus, one could argue that boomers became even more entrenched in their homes in 2018-2023 compared to 2008-2017, partially due to market forces that rewarded staying put.

The Coming “Silver Tsunami”

Finally, we see the early signs of the so-called “silver tsunami” in the recent period. The term refers to the looming wave of homes that will eventually hit the market as boomers age into their 80s and 90s and begin to downsize drastically or pass away.

Between 2008 and 2017, this seemed a distant phenomenon—boomers were only in their 50s and 60s. But by 2018-2023, the oldest boomers reached their mid-70s. Some began moving into assisted living or passed on, which incrementally increased housing turnover. This is expected to accelerate in the coming decade.

Boomers collectively hold an estimated $17 trillion in home equity, roughly half of all U.S. home wealth, that will transfer in the next 20 years. In Kansas, a state with many aging rural homeowners, the effects of this transition will be significant: we may start seeing more estate sales and inherited houses in the 2020s and 2030s.

During 2008-2017, the focus was on boomers not selling; in the next phase, the focus will shift to how to handle the volume of homes when they eventually do exit homeownership. Communities will need to ensure housing stock transitions smoothly to younger families and that there are suitable senior housing alternatives.

The period of 2018-2023 is somewhat the calm before that storm—a time when boomer housing preferences solidified (largely staying put), setting the stage for big changes in the coming decade.

References

1. Baby Boomers Edge Out Millennials as Top Buying Force – National Association of REALTORS® Magazine (2023)
2. More Than Three-Quarters of Baby Boomers Plan to Stay In Their Home As They Grow Older – Redfin (Dana Anderson, Apr. 2, 2024)
3. Kansas Statewide Housing Assessment – Kansas Housing Resources Corporation (2021)
4. Baby Boomer-Dominant Housing Markets [2024] – Construction Coverage
5. U.S. Cities With the Least Home Inventory – Inspection Support Network
6. Baby Boomer Home-Buying Trends in Arkansas in the Last 5 Years – HomeStratosphere (2023)
7. Baby-Boomer Homeowners Got Rich From Skyrocketing House Prices. Now They Can’t Find Retirement Housing – National Association of Senior & Specialty Move Managers blog (Eliza Relman, Nov. 29, 2024)
8. Where baby boomers are moving – WPXI (February 24, 2025)
9. In Rural Settings, Communities Step up to Help Aging Adults – Flatland KC (Cami Koons, Sept. 28, 2023)
10. ‘Silver Tsunami’ of Aging Boomers With $17 Trillion in Home Equity – Realtor.com
11. Boomers Predicted To Leave $17 Trillion ‘Silver Tsunami’ to Kids – Newsweek
12. BofA Survey: 70% of Gen X and Baby Boomers Retiring in the Home – Bank of America Newsroom
13. 78% of Gen X and Baby Boomer Homeowners See No Reason to Move – Builder Online
14. Younger Buyers Want Baby Boomers to Update Their Homes – NAR Magazine
15. Best places to live in Kansas for retirees – BoomersHub Blog
16. Boomers Downsizing Could Redefine Housing Market – Globest
17. Is there a housing inventory ‘silver tsunami?’ Not where it’s needed – Housing Wire
18. 5 Notable Trends in the Kansas City Housing Market – PropStream
19. Kansas Housing Resources Corporation Home-ARP Allocation Plan