Boomers Create a Booming Luxury RV Market

The number of RV-owning households in the U.S. is expected to rise to nearly 8.5 million by 2010, which is 250 percent higher than the projected overall growth of U.S. households during that time, according to a 2005 University of Michigan study.

And as RVs become more popular, they are getting more expensive. Sales of luxury RVs, or "rolling mansions" costing $1 million or more, are increasing as well. The Seattle Times has an interesting report on the luxury RV lifestyle, focusing on the residents of Pelican Lake RV Resort near Naples, Florida, where vacant waterfront RV lots are selling for up to $599,000.

What’s driving the popularity of RVs? Baby boomers, according to the Recreational Vehicle Industry Association (RVIA). RV ownership now spans a 40-year range, from ages 35 to 75, with baby boomers between 55 and 64 having the highest ownership rates, according to the U of M study commissioned by RVIA.

Why is RV travel becoming so popular, especially with baby boomers? See Why is RV Travel So Popular with Baby Boomers?.