Older Americans are increasingly selling their large homes and moving into recreational vehicles (RVs), cutting monthly housing and utility costs roughly in half. According to The New York Times, a 98-year-old New York woman sold her apartment and bought an RV for $5,000, reducing monthly expenses from $11,000 to $5,000. A Texas couple saved more than $115,000 over five years.
The RV Industry Association (RVIA) reports that 55% of new RV buyers are retirees, with 17% never having owned an RV before. About 170,000 Americans over 55 now lead a nomadic RV lifestyle. The trend is especially popular among Generation X (born 1965–1980), who actively choose RVs for travel and savings. Only 16% of Gen X consider their retirement savings sufficient.