Point2Homes reports a notable rise in senior renters, especially those aged 65 and above, with a 30% increase over the past decade. This surge is attributed to downsizing retirees and grandparents, referred to as 'baby chasers', who relocate to be closer to their grandchildren. The highest concentrations of senior renters can be found in Florida, with significant growth also observed in cities like Baton Rouge, Jacksonville, and Austin. The trend shows no signs of decline, illustrating a shift in the rental landscape influenced by an aging population seeking housing closer to family.
The senior renter boom indicates a migration trend of downsizing retirees and grandparents relocating to be near their grandchildren, with a 30% increase among renters aged 65 plus.
Seniors have become a significant portion of the rental market, with the 65-and-older demographic adding 2.4 million renters over the past decade, representing the highest growth.
While Florida remains a popular destination for seniors, rapid growth in senior rentership has also been observed in cities like Baton Rouge, Jacksonville, and Austin, exceeding 80%.
The study reveals that the growth of seniors renting single-family homes has significantly increased, particularly in regions like Omaha, Dallas, and Austin where numbers have more than doubled.
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