Key Details:
- The latest Point2Homes report shows renters aged 65+ grew by 2.4 million between 2013 and 2023, a nearly 30% increase, making them the fastest-growing age group in the rental market.
- Seniors now make up over 21% of renters in top Florida metros and have increased their share of single-family rentals by 25% nationwide.
- Meanwhile, renters aged 24 and under declined by 9%, signaling a major generational shift in housing trends.
Older Americans are flipping the script on the traditional path to homeownership. According to a new report by Point2Homes, renters aged 65 and older are now the fastest-growing segment of the rental market, with numbers jumping by 2.4 million over the past decade.
That’s a nearly 30% increase between 2013 and 2023.
Meanwhile, younger and midlife Americans are renting less. The trends suggest a generational reshuffling of who rents, who owns, and what those decisions mean for lifestyle, finances, and mobility.
For real estate agents, this shift isn’t just a demographic blip. It’s a sign of changing priorities, and a clear opportunity for agents who understand what today’s senior renters actually want.
Here are five fast facts to help you make sense of the trend and tap into it.
1. Seniors Lead All Age Groups in Rentership Growth
Rentership grew across just two age brackets over the past 10 years. And seniors led by a mile.
- Renters aged 65+ increased by 2.4 million between 2013 and 2023
- That’s a 30% jump, the largest percentage and volume increase across all age groups
- Adults aged 55–64 also saw gains, adding nearly 500,000 renters
Every other age group saw a drop in rentership over the same period. Renters aged 24 and under declined by about 9%, and so did those aged 45–54.
Even 25–34-year-olds, who now make up 27% of all renters nationwide, saw a 1.1% decline.
2. Renting Single-Family Homes Is on the Rise for 65+
Today’s older renters aren’t just downsizing into small apartments. Many are choosing single-family homes for the space, privacy, and flexibility they offer, especially when living near kids or grandkids.
Nationwide, the number of seniors renting single-family homes rose by 25% between 2013 and 2023. In some cities, that growth has more than doubled:
- Omaha-Council Bluffs, NE-IA (+103.5%)
- Dallas, TX (+100.8%)
- Austin, TX (+100.5%)
In each of these metros, the number of seniors renting houses grew by more than 100%. Omaha’s affordability makes it attractive to retirees, while Dallas and Austin have seen sharp increases in property taxes and home prices, making renting a more accessible option for older residents.
3. The Sunbelt Is Still the Top Draw for Senior Renters
Seniors aren’t just renting more. They’re renting in the Sun Belt. Warm weather, accessible healthcare, and a more relaxed lifestyle continue to attract older Americans to southern metros.
The biggest rentership gains for the 65+ crowd include:
- Baton Rouge, LA (+88.7%)
- Jacksonville, FL (+83.7%)
- Austin-Round Rock, TX (+81.1%)
- New Orleans, LA (+69.7%)
- Dallas, TX (+66.5%)
Florida still leads the country in concentration. Seniors now make up:
- 21.3% of all renters in North Port–Sarasota–Bradenton
- 18.5% in Cape Coral–Fort Myers
- 15.0% in Miami
And while these smaller metros top the percentage charts, major markets saw massive net increases. The New York metro added 275,900 senior renters, while Los Angeles added more than 141,000.
4. Seniors Are Renting for More Than Just Retirement
The old narrative around retirement is changing. Seniors are living longer, working longer, and seeking more control over their living arrangements. For many, renting supports that flexibility.
According to TIME, about 19% of Americans aged 65 and older are still in the workforce, up from just 10% four decades ago. A Harris Poll also found that older adults today are more sensitive to mortgage interest rates, which has made homeownership less appealing.
Other motivators include:
- Downsizing from a family home
- Avoiding maintenance and repair costs
- Staying close to family
- Funding lifestyle goals with home equity or retirement savings
And for many, renting makes it easier to move seasonally, relocate for work, or live on their own terms.
5. Younger Renters Are Pulling Back
While seniors gain ground, younger Americans are retreating from the rental market.
- Renters aged 24 and under declined by 9%
- Renters aged 45–54 declined by a similar amount
- Even 25–34-year-olds saw a slight 1.1% dip in rentership
Why the pullback? For younger renters, the pandemic accelerated existing trends:
- Many stayed longer in family-owned homes
- Student housing and co-living options gained traction
- Remote work allowed midlife professionals to buy in cheaper markets
Even with these declines, the 25–34 age group still makes up the largest share of U.S. renters, but the gap is closing as older Americans step in.
Read the full report for more information, including charts and methodology.
What This Means for Real Estate Agents
Senior renters aren’t a fringe trend. They’re the future of a growing segment of the housing market. And they’re bringing different expectations with them.
They want flexibility without the stress of ownership. Many are still working and value proximity to jobs, family, and healthcare. Others are looking for seasonal rentals or communities where they can age in place comfortably.
If you’re an agent, that means rethinking how you market rentals, especially single-family homes. It means asking about lifestyle goals, not just bedroom counts. And it means recognizing that older renters aren’t giving up. They’re just choosing a different kind of freedom.
