According to an analysis of U.S. Census data by Axiometrics, baby-boomers and older Generation Xers now account for the largest share of renters. There are many empty-nesters that are choosing to downsize by selling their homes and moving into apartments. This article discusses how the demographics of renters has changed over the last few decades. There are many benefits that come with renting that can include a reduction of the responsibilities of living in a house as well as the positive aspects of urban-core living. This article compares the rental statistics of 2004 with the 2014 figures. The housing and rental market is going to continue to change as older demographics make changes to their living arrangements in the future.
See Sophie Zatterstrom Gore, Boom: Older Renters Comprise Largest Share Of Market, Forbes, December 17, 2015.
Special thanks to Brian Cohan (Attorney at Law, Law Offices of Brian J. Cohan, P.C.) for bringing this article to my attention.
