Older Renters Are Reshaping the Market
While Millennials and Gen Z still lead the rental market in volume, renters aged 55 and older now make up nearly 30% of all renters—a share that’s steadily growing. A recent Apartments.com survey sheds light on who these renters are, how they search, and what they want in their next home.
If you’re looking to attract this fast-growing demographic, here’s what you need to know.
Who Are Today’s 55+ Renters?
- 27% of renters planning to move are 55+
- 80% already rent; 20% are entering the rental market for the first time
- Many are downsizing from homeownership or seeking flexible housing in retirement
- More likely to live alone, be retired, and own pets (especially dogs and cats)
How They Search for Rentals
- 71% use listing sites like Apartments.com
- Many rely on government housing tools—more than twice as often as younger renters
- 97% say ratings and reviews are important
- 99% care about unit-specific info, especially:
- Price
- Availability
- Floor plan
- Unit features
- Floor level and accessibility (much more than younger renters)
They're less interested in 3D tours and far less likely to rent sight unseen.
What They Want in a Rental
Top priorities:
- Affordability (especially important to this age group)
- Safety and security
- Proximity to grocery stores and medical care
- Apartments over larger homes
- Not focused on more space—downsizing is common
Must-have amenities:
- Air conditioning
- Off-street parking or garage
- Balcony or private outdoor space
Less emphasis is placed on dishwashers, pet policies, or gyms.
Top Deal-Breakers for Older Renters
- Too expensive (81%)
- Safety concerns (73%)
- Poor maintenance or unit condition (68%)
- Unexpected fees (62%)
- Negative reviews (61%)
They’re more likely than younger renters to rule out a property due to these issues—but more forgiving when unit photos or online applications are missing.
How They Communicate
Older renters still prefer human interaction over fully digital processes:
- 66% prefer email
- 65% prefer phone
- 54% are open to in-person conversations
- 42% prefer booking tours by phone
- While 54% apply online, over a third still prefer in-person applications
What Property Managers Should Do
To attract 55+ renters:
- Ensure clear, accurate listings with detailed unit info
- Highlight affordability, safety, and accessibility
- Include photos, floor plans, and pricing transparency
- Offer multiple communication options—especially phone and email
- Maintain a reputation with positive reviews and well-kept properties
Conclusion: A Growing Opportunity
Older renters aren’t just a growing market—they’re a segment with specific needs, clear preferences, and strong buying power. By adapting listings, amenities, and communication strategies to meet those expectations, property owners can capture long-term, reliable renters in a shifting housing landscape