10/22/2025
Interesting statistic for many of the "Boomers" -- Please reach out to me if you are considering downsizing and selling your home!!
THE FACE OF U.S. RENTERSHIP IS GETTING OLDER.
Between 2013 and 2023, the number of renters aged 65+ grew by 2.4 million, representing a nearly 30% jump and the largest increase of any age group. Today, more than 10.4 million older adults rent their homes, making up 13.4% of the renter population. This shift reflects both the nation's aging population and changing housing priorities.
Seniors today are more willing to embrace renting as an alternative to homeownership, often citing downsizing, cost predictability, and proximity to family or healthcare as motivators. According to housing analysts at Point2Homes, renting enables senior adults to bypass the burdens of upkeep and property taxes, while offering them greater flexibility at a season in life when their personal needs can shift in a moment without warning.
While natural aging accounts for part of the increase, financial factors loom large. Seniors are especially sensitive to high mortgage rates and housing costs, according to recent surveys, making renting a practical choice. Many are also staying in the workforce longer (nearly 1 in 5 adults age 65 or older is still working), adding to the appeal of flexible housing.
Source: Mortgage Point
Send a message to learn more