Why Baby Boomers Are Choosing to Rent
Roughly 10,000 people reach retirement age every day in the US, and that steady wave is putting new pressure on senior housing. For many, renting rather than owning has become the right fit, whether it’s a smaller footprint after the kids move out, needing to be close to people who can check in, or simply wanting to conserve resources while living off savings.
For many boomers, communities geared toward seniors offer exactly the lifestyle they’re looking for. Here’s what tends to matter most to this resident base:
- Affordability: many boomers are living on fixed incomes, pensions, or savings, so rent needs to fit a predictable budget
- Accessibility: single-story layouts, grab bars, wider doorways, and elevator access matter more as residents age
- Proximity to healthcare: easy access to medical care and providers influences where boomers choose to live
- Community and social engagement: active adult communities, recreational activities, and shared gathering spaces are a big draw, especially for residents living alone
- Downsizing: empty nesters often want a smaller, more manageable unit, with energy efficiency as a nice bonus
- Safety and security: gated communities and updated security systems bring real peace of mind
- Pet-friendly living: many boomers are pet owners who see their pets as companionship
- Transportation options: reliable transit or proximity to essential services matters for residents who no longer drive
- Low-maintenance living: services like landscaping, snow removal, and repairs reduce the physical demands of homeownership
Amenities That Win Them Over
Many boomers are accustomed to a certain level of comfort, and the amenities that attract them look different from what draws in younger renters: think pickleball courts and community rooms rather than pools and tennis courts. An on-site hair salon or physical therapy space can be a meaningful draw, and shared gathering spaces matter more than ever, since more boomers than at any point before are single and looking for companionship or connection.
It’s worth noting that Pennsylvania has the 5th highest number of residents age 65 and over, which tracks with the state being the 5th most populous overall. Many boomers here may prefer a unit they can lock and leave while they spend part of the year snowbirding south.
If you’re looking to tailor your property to this rapidly growing renter base, contact us to discuss strategy.
