What I’ve learned from the Baby Boomer demographic in the Lakes Region

Over the years, I’ve had an interest in following the Baby Boomer generation because they have been referred to as “The single greatest demographic event in U.S history.” The Boomers represent 76 million Americans born between 1945 and 1964.

Unlike younger generations like Gen X’ers, the Millennials, or Gen Z’ers, Boomers have largely been able to walk a straightforward path toward prosperity and security. They were born in an era of good economic growth and stability. Back in those days, college was affordable, the job market was expanding, and real estate prices were much more affordable. Yes, the Vietnam era and other periods were difficult, but we managed to plow forward.

For many years in real estate, I have watched the Boomers expand their home-buying needs from primary homes south of the Lakes Region to second home purchases in the Lakes Region. I’ve watched them cluster in scenic places where they have often vacationed. They want to return to happy places where they experienced fond memories as children, like birds migrating to places of familiar origin, and they want their kids and grandchildren to share the same experience.

As a result, I’ve witnessed over the last 49 years the Lakes Region's expansion in housing, especially vacation homes, condominiums, and semi-retirement homes, with this migration trend. Many parts of New England have been affected. Pre-retirement areas such as the Lakes Region, Maine, New Hampshire coastal towns, Cape Cod, and regions of Vermont are like magnets, attracting Boomers who seek a quieter, relaxed lifestyle with recreation, cultural opportunities, and quality of life.

What’s interesting is that the Millennial generation (ages 26-44, born between 1980 and 1998) stepped in and gained the top spot as the number of homebuyers for a number of years. However, the trend has changed again with a significant shift.

This past year, Boomers have become the largest demographic of homebuyers in the U.S. They have accounted for 42% of the sales activity, according to the National Association of Realtors. 

This has been driven by factors such as their increased home equity, a desire for lifestyle changes, to be with family, or downsizing of their home. The Boomers, who are now aged 60-79, are also the most active sellers making up 53% of those listing properties. 

Many Boomers are purchasing homes with cash because of their substantial home equity and stock investments.

The higher median home prices and higher interest rates today make it difficult for younger buyers. Millennials (age 26-44) now represent 29% of current homebuyers. Gen X’ers (ages 45-59) represent 24% of buyers, the third largest demographic. The fourth largest group is the Silent Generation, made up of people 79 years and up, at only 4%, while the fifth largest group is Gen Z’ers (ages 18-25), at 3%.

What’s amazing, Boomers own 37% of the homes in the U.S. while making up a little more than 20% of the population, and they also have the keys to 57% of the vacation homes in the U.S. and 58% of investment income-generating rental properties per the National Association of Realtors. The Boomers and the Silent Generation hold 64% of the nation’s $190 trillion of wealth and are expected to leave behind $84 trillion to their descendants in the coming two decades. 

So, on a positive note, Millennials and Gen X’ers are set to become the richest generation on record, thanks to the $84 trillion great wealth transfer from the Baby Boomer parents and grandparents. (Medical costs, long-term health care, taxes, Social Security, and inflation will affect this, in my opinion.)

Why are Boomers

attracted to the Lakes Region?

Semi-retirees look for states that are more tax-friendly to retirees. New Hampshire has one of the lowest tax burdens in the nation, with no state income tax, sales tax, capital gains tax, or interest & dividends tax.

These same individuals look for states that are safe to live and retire in. New Hampshire has the lowest crime rate in the country, according to FBI statistics.

Many Boomers will continue working into their early retirement years, at least on a part-time basis. New Hampshire’s unemployment rate is one of the lowest in the country and presents a favorable environment for semi-retirees.

Boomers are seeking areas of natural beauty. There is an abundance of lakes, scenic mountains, ski areas, golf courses, hiking trails, and quick access to ocean beaches along the New Hampshire and Maine coast. The Lakes Region provides all of the above with 273 lakes, ponds, rivers to enjoy, and cultural amenities.

New Hampshire was named the “most livable state in the nation” and “best quality of life.”

New Hampshire was named the best state to retire to in 2025 by Bankrate, a financial services company. This ranking indicates a significant shift as traditional retirement destinations like Florida, Arizona, and Nevada scored poorly in the 2025 analysis.

Boomers look for communities with excellent health care facilities. WalletHub ranked New Hampshire No. 1 in the country for overall health care, with top scores for costs and outcomes. This national ranking evaluates states based on 44 key indicators. 

Will more Boomers come?

Most definitely, and other demographics as well. All Lakes Region Realtors have seen a surge of interest from southern New Hampshire, Massachusetts, Connecticut, Rhode Island, New York, New Jersey, Pennsylvania, Florida, and some Western states. With 76 million Americans in the Boomer category, the demographic migration to the Lakes Region will be substantial because it’s within a seven-hour drive of more than 56 million people.

We’re in a good place right now, and the Lakes Region has been expanding its housing opportunities to accommodate its growth.

Our local planning boards, however, have to be careful to oversee that growth is maintained responsibly without excessive density and loss of our rural character. Architectural designs, land planning, height restrictions, and overall density needs to be controlled in order to keep the Lakes Region as picturesque and desirable as possible. We offer four seasons of recreation, and we are at the foothills of 760,000 acres of national forests and the beautiful White Mountains. Our lake, pond, and river choices are numerous. Our scenic lakeside villages are quaint and second to none. There’s something for everyone.

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This article was written by Frank Roche, president of Roche Realty Group with offices in Meredith and Laconia, and can be reached at 603-279-7046. Visit rocherealty.com to learn more about the Lakes Region and its real estate market.