The purpose of this study is to comparatively analyze how the baby-boomers and the elderly’s housing values for old age differ according to the characteristics of residential area(cities & rural area). For this research, a 1:1 interview survey was conducted to 113 urban baby boomers, 85 urban elderly, 59 rural baby-boomers, and 62 rural elderly from January till March, 2014. The findings of this study are as follows: 1) The rural elderly has great intention to live with their sons and daughters or live in a short-distant area, and want to live aging in place but show strong negative recognition on the houses for the elderly. 2) The baby-boomers shows positive recognition on the houses for the elderly and low intention to live aging in place. They appreciates the value of rural residence highly. Therefore, it will be needed to develop alternatives for the residence of later years for the baby boomers differentiated from that for the previous elderly generation and consider not only the characteristics of each generation but regional characteristics of cities and rural area.