How Older Renters Are Changing the Rental Market in 2025
Boomers are on the move and the U.S. rental market is shifting, quickly. While most people think of young professionals and students as the primary renters, older adults are now one of the fastest-growing segments of rental customers, projected to continue increasing through 2028. This change is reshaping tenant expectations, lease preferences, and even the way landlords manage their properties. Often, with years of experience in their own homes, older renters will have certain property maintenance expectations and communication preferences with their landlords. As a landlord, are you prepared to meet the changing needs of the rental market?
Why More Older Adults Are Renting
Financial flexibility Many retirees are downsizing or giving up homeownership to free up capital, reduce monthly costs, or avoid property taxes and maintenance. Property taxes and home repairs can become unpredictable costs. Utilities increasing year on year also makes larger home living unsustainable on a fixed income. With data centers spreading throughout the USA and putting pressure on the grid, these costs are only likely to increase.
Freedom from home repairs and upkeep Owning a home often brings routine upkeep, home repairs, and yard work. Many condo associations and elder living communities have a full time landscapers and maintenance rolled into their fees. Some even shovel out snow. Roof repairs, exterior painting and plumbing issues are often outsourced.
Life changes Empty nesters, widowed or single seniors, or those getting divorced are more likely to seek rental housing that fits their new circumstances.
Accessible Neighborhoods Walkable neighborhoods, proximity to medical care, social amenities, public transit, and safer communities become greater priorities as people age. The days of knowing everyone on Main Street are fading away, as housing communities grow, downsizing is a great way to regain that nostalgic connection with your neighbors. States like Florida are famous for its golf cart neighborhoods with gated entrances. Pool clubs, cocktail hours and community centers offer a great way to socialize and age amongst peers.
Demographics According to Point2Homes, between 2013 and 2023, the number of renters aged 65+ increased by about 2.4 million, this is the largest growth among any age group. Having this many retirees in family friendly sized lots isnt sustainable for many areas of the USA, furthering fostering the migration of retirees into rental properties. And seniors aren’t just sticking to apartments; single home rentals for those 65+ surged by 25% in the same period.
What Older Renters Tend to Prioritize
Older renters often bring different expectations than younger ones. Some common priorities include:
Accessible Features Ground-level units, fewer stairs, ramps, elevators, broader doorways, ramp entries, and grab bars may matter more than high-end finishes. Secure communities, good street lighting, prompt repairs, consistent maintenance, and tight knit neighborhoods give peace of mind.
Comfort focused interiors Simple layouts, fewer quirks, ease of use (e.g. lever handles), and less clutter often outperform “luxury touches.” Lower sinks and easier access to bathrubs is also a plus.
Community Proximity to social gathering places, wellness centers, parks, or opportunities to be among peers can be a selling point.
Longer leases Stability is appealing, many older renters prefer 12–24 month leases rather than short-term contracts. For landlords adapting to this shift, meeting these expectations can reduce turnover and vacancies.
What This Means for Landlords & Investors
The rise in older renters brings both challenges and opportunities:
Reduced tenant turnover Older tenants often stay longer, which can lower expenses associated with re-renting and vacancy periods. Lower vacancy rates can allow for more planning with your real estate investments.
More financial stability Many draw from social security, pensions, retirement plans, or steady income sources, which may lead to more reliable rent payments.
Maintenance Requirements Rather than chasing the next trendy remodel, investors may need to focus on ongoing upkeep, upgrades for accessibility, and preventative maintenance. Older renters tend to have less wear and tear damages, reducing the number of off-schedule maintanence visits. Keep in mind that having features friendly for older renters can also be a sell to younger audiences down the line, and worth investing in.
How to Attract and Retain Older Renters
Showcase accessibility As we age, things change and accessibilty can be a deal breaker for your home. Bars in the tub, zero step entry ways, wider doorways, access ramps and ranch style homes are traditional features found in retirement communities, and ones you can consider for your property.
Sell the peace of mind Emphasize safety, responsive maintenance, solid infrastructure, and longer-term leases. Community feel, the feeling of security and reliability will go a long way.
Offer flexible payment methods While many older renters are quite tech-savvy, some still prefer traditional payment modes, or are working within the confines of their banking instituions. Consider accepting both online and check or money order options. Social security is deposited automatically, but pensions and divident payments can come via check. Be open to a variety of payments and allow systems that are easier to navigate.
As 2026 approaches, and an increasing number of Boomers migrate into the rental space, follow us here for the latest tips and advice. Small changes to your property and marketing can open your pool to a larger number of tenants.
