{"id":184403,"date":"2025-08-22T12:46:39","date_gmt":"2025-08-22T18:46:39","guid":{"rendered":"https:\/\/www.biggerpockets.com\/blog\/?p=184403"},"modified":"2025-08-22T12:47:15","modified_gmt":"2025-08-22T18:47:15","slug":"55-and-over-is-americas-fastest-growing-renter-demographic","status":"publish","type":"post","link":"https:\/\/www.biggerpockets.com\/blog\/55-and-over-is-americas-fastest-growing-renter-demographic","title":{"rendered":"America’s Fastest Growing Renter Demographic: 55+ Retirees and Empty-Nesters"},"content":{"rendered":"\n

Millennials and now Gen Z have been the target audience for many rental communities over the last few years. Even for mom-and-pop landlords, making a single-family home or small <\/span>multifamily<\/span><\/a> unit resemble a well-equipped Airbnb to attract high-earning, younger tenants has been a popular strategy. <\/span><\/p>\n\n\n\n

Recent data suggests, however, that this approach may be overlooking an ever-growing section of the rental community: the 55-plus age group.<\/span><\/p>\n\n\n\n

A Generational Shift in Housing<\/span><\/h2>\n\n\n\n

Unlike younger tenants, many of whom are digital nomads flitting between cities or young couples saving to buy their own home, older tenants are often former homeowners who are tired of the rigors of property ownership\u2014such as increasing <\/span>taxes<\/span><\/a>, maintenance, not being able to leave for weeks at a time\u2014and looking for something stable and long-term. In other words, ideal tenants.<\/span><\/p>\n\n\n\n

According to research from the National Investment Center for Senior Housing & Care, based on U.S. Census Bureau data and detailed in The<\/span> Wall Street Journal<\/span><\/a><\/em>, the fastest-growing age group of renters in the U.S. is the 55-and-older age group. <\/span><\/p>\n\n\n\n

And a report from<\/span> Point2Homes<\/span><\/a> based on U.S. Census data reveals that 2.4 million more Americans aged 65+ were renting in 2023 than in 2013\u2014an almost 30% increase, the largest of any demographic. The 55-64 segment also experienced growth, although not as pronounced. It\u2019s a trend that is shaping the national rental landscape.<\/span><\/p>\n\n\n\n

Why the Number of Older Renters Is on the Rise<\/span><\/h2>\n\n\n\n

According to <\/span>The Journal<\/span><\/em>, several converging reasons are fueling the middle-aged rental boom.<\/span><\/p>\n\n\n\n

Lifestyle flexibility<\/span><\/h3>\n\n\n\n

Owning a single-family home is no longer practical for divorcees and empty nesters. Renting allows for the ability to move to warmer weather, be near grandchildren, and reduce taxes and other expenses.<\/span><\/p>\n\n\n\n

Avoid property maintenance<\/span><\/h3>\n\n\n\n

The hassle of property maintenance is one of the most compelling reasons to ditch a single-family home, especially an older one. The convenience of calling a landlord to fix any issues can be highly appealing.<\/span><\/p>\n\n\n\n

Financial flexibility<\/span><\/h3>\n\n\n\n

Selling a long-term home releases capital, offering liquidity and with it, the opportunity to travel, pay for healthcare, invest, or engage in other leisure activities. <\/span><\/p>\n\n\n\n

Community and amenities<\/span><\/h3>\n\n\n\n

Large-scale developers have become increasingly cognizant of the growing 55+ rental age group and, as such, have been offering \u201cactive adult\u201d rental communities, with gyms, gardens, and social spaces. Connection and engagement are a big draw for older tenants, especially those who have dedicated their lives to raising families or are single.<\/span><\/p>\n\n\n\n

Regional Differences: Where the Older Rental Demographic Is Growing Fastest<\/span><\/h2>\n\n\n\n

Although the growing 55+ rental trend is national, some areas are experiencing sharper increases than others. For example:<\/span><\/p>\n\n\n\n