Senior Living Cooperatives Explained
A senior living cooperative—or co-op—is a housing option that offers adults age 55 and over independence and social interaction without the maintenance, chores, and expenses of single-home ownership. Residents purchase a share of the community and also have a say in how the community operates.
The concept of senior co-ops originated in the Midwest in the late 1970s, and the majority of these communities are currently located in Minnesota and Iowa. However, as the Baby Boomer generation continues to retire, co-ops may become more plentiful nationwide.