More than 20% of the US population now lives in common interest communities

December 08, 2017 03:47AM

Some 69 million Americans, or 20 percent of the population, are now living in common interest communities like condominiums or cooperatives, as opposed to single-family homes, according to a report by Forbes. Community living tends to be more popular among baby boomers and millennials, the two largest age groups in the U.S. Retired baby boomers are looking for homes with fewer maintenance issues, and millennials tend to prefer managed properties that offer amenities and entertainment. [Bisnow]