The Future of Renting Among Older Adults

Since 2005, the number of US renter households aged 50+ has increased dramatically, jumping from 10 to nearly 15 million, and accounting for more than half of all renter growth over the past decade. The baby boom cohort, now aged 50-69, is responsible for most of the increase in older renters. This cohort will continue to drive up the number of renters in their 70s and beyond. The sheer growth in older households and the falloff in owning compared to previous generations at the same age indicates strong growth in older renter households going forward. The question is whether the nation’s supply of rental units is suited to the needs and preferences of older renters.