A retirement home – sometimes called an old people's home or old age home, although this term can also refer to a nursing home –  is a multi-residence housing facility intended for senior citizens. Typically, each person or couple in the home has an apartment-style room or suite of rooms. Additional facilities are provided within the building. This can include facilities for meals, gatherings, recreation activities, and some form of health or hospice care. A place in a retirement home can be paid for on a rental basis, like an apartment, or can be bought in perpetuity on the same basis as a condominium.
The number of retirement homes has been increasing in the United States, from almost 11,000 in 2003 to 12,000 in 2010. The market size for retirement homes has had a much greater growth rate, from $13.5 billion in 2005 to $17 billion in 2010, with California being the American state with the largest market size.
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- Media related to Retirement homes at Wikimedia Commons