Retirees Buy NYC Homes for Top Doctors

Affluent retirees are finding that while relocating for sunshine and lower taxes is easy, maintaining access to trusted medical care is far more challenging. Consequently, a notable number of former New Yorkers are purchasing compact second residences in the city, often termed 'med-à-terres.' These properties allow them to continue seeing the physicians and specialists they have relied on for years.

Melissa Talarico, a 72-year-old retiree who spends much of her year in Miami, exemplifies this trend. Despite moving south after a 40-year career in the city, she and her husband maintained ties to Manhattan for healthcare. They continued returning to New York for appointments at prominent institutions, but the commute from Long Island became a burden.

To alleviate this, the couple recently purchased a 900-square-foot loft in Jersey City, a short train ride from their doctors. This move underscores a broader issue: the growing difficulty of finding new medical providers, compounded by a projected U.S. physician shortage of up to 86,000 by 2036. This phenomenon is not isolated, as other real estate brokers report similar client situations driven by the need for consistent, high-quality healthcare access.