Young People Are Leaving This Major City in Droves-but Does That Mean It's Good for Retirees?
Whenever I hear about a city or region where younger adults are struggling to succeed, I can't help but wonder whether the opposite is true: retirees are actually thriving. Take, for example, a new report from a major New England city that found that nearly half of the 20- to 30-year-olds surveyed plan to leave the city within the next five years.
But, their reasons leave me wondering if retirees in the region are doing well, since the complaints listed in the survey aren't something that seniors really have to worry about. Does that make this place a hidden gem for retirees? Keep reading to find out.
@nbc10boston The Greater Boston Chamber of Commerce is warning that a "distressing number" of young people are planning to leave the Greater Boston area, citing a new survey conducted for the business interest group. #nbc10boston#boston#news#video#fyp
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Young Adults Say They Plan to Leave Boston
According to a 2026 Young Residents Survey, 26 percent of people in their 20s and 30s says they plan to leave the city of Boston in the next five years. The survey was commissioned by the Greater Boston Chamber of Commerce and echoes the findings of a 2023 survey.
According to the new report, the people surveyed said that the most important factors influencing the mass exodus include:
- 79 percent cited job availability
- 78 percent cited the cost of rent
- 79 percent cited safety
- 72 percent cited the ability to buy a home
Considering that the MIT Living Wage Calculator says that a single adult needs to make a minimum of $32.46 an hour to afford to live in Boston and the surrounding area, and Zip Recruiter says that the average hourly rate is just $23.08, it seems clear why younger people are finding it hard to build a life in Bean Town.
Is Boston a Good Place for Retirees
So, while a lot of that is obviously negative for those just starting out, it seems like the opposite must be true. And according to 55 Places, Boston does have a lot going for it when it comes to senior living.
For example, the city offers plenty of activities every day, so retirees with a bit more time on their hands will never get bored. That includes a collection of some of the world's best universities, which would be great for retirees looking to further their education or simply learn something new.
Additionally, many neighborhoods in Boston are walkable, allowing those who want to ditch their cars to still get around with ease. Not only that, but the city has a pretty robust mass transit system that will make it easier to head outside of your neighborhood as well.
And some of those biggest pain points for younger people, like jobs and the ability to buy a home, aren't exactly priorities for retirees since many of them likely already own a home and are no longer part of the job market. With some of the best healthcare access you can find, Boston seems like the perfect place for retirees who don't mind the cold.
That said, 55 Places notes that the city is expensive, and the cost of living is high for those still looking for a home or renting, which means you'll need to weigh the pros and cons carefully before deciding to make a move.
Disclaimer: This article is for informational purposes only and does not constitute financial advice.
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This story was originally published April 24, 2026 at 2:05 PM.