Point2Homes analyzed the 75 largest U.S. metro areas and found that renting is now more common among older adults than it was for the same age group 10 years ago.
Over the past decade, a growing number of older adults have chosen to forgo the responsibilities of homeownership — like property taxes and maintenance — in favor of more flexible living options. Many are tapping into home equity or retirement savings to support these transitions.
Point2Homes said that the senior renter boom points to a broader migration trend that consists of downsizing retirees and so-called “baby chasers,” or grandparents who are moving to be closer to their grandchildren…