For years, conversations about renting have centered on younger generations—millennials priced out of homeownership or Gen Z entering the housing market for the first time. But the real disruptors in the rental industry today? Older adults. Learn more about attracting – and keeping – long-term 55+ renters.
A Growing Demographic Shift
According to data compiled by the National Investment Center for Seniors Housing & Care, renters aged 65 and older have increased by 30% in the past decade. In fact, adults 55 and older are now the fastest-growing renter demographic in the United States. This trend isn’t a short-term blip—many older renters plan to stay in the rental market long-term.
- Silent Generation (born before 1946): Nearly 80% plan to rent for at least 3 years, and almost 60% intend to rent for 5+ years.
- Baby Boomers (born 1946–1964): 73% expect to rent 3–5+ years, with over half committed to 5+ years.
Renting by Choice, Not Necessity
Unlike younger groups who often rent due to affordability, older adults are choosing to rent, according to the 2025 SatisFacts Online Renter Study.
- 79% of Silent Generation renters and 65.5% of Baby Boomers say renting is a conscious choice.
- Even 51.6% of Gen Xers report renting by choice.
Their reasons? Flexibility, convenience, and community.
Transparency Enhances Retention
When searching for housing, transparency is critical. The Silent Generation wants to see verified renter reviews, and they expect at least a 4.33-star rating before feeling confident about signing a lease.
But here’s the challenge:
- 60.4% of older renters admit they struggle to spot fake reviews, compared to just 29.5% of Gen Z.
- They are more likely to believe inflated positive reviews, which can lead to disappointment and moves earlier than planned.
For communities, this underscores the importance of creating an authentic, transparent reputation that builds long-term trust to keep them as a long-term renter. Providing honest, clear, and verified information will not only attract older renters, but keep them long-term.
Community Over Technology
Older renters are driven less by shiny tech features and more by human connection and trust. They report the highest preference for in-person communication (34.9%), compared to 22–25% among younger groups. They also prioritize a strong sense of community—something far more important to them than smart locks or AI-powered chatbots.
Technology still plays a role, but it’s practical, not flashy. The top features older renters want are those that simplify everyday life:
- Online rent payment (56.3%)
- Online maintenance requests (53.8%)
- Online lease renewal (52.1%)
Meanwhile, “nice-to-have” tech perks rank lowest:
- AI-powered 24/7 chat support (9.2%)
- Virtual concierge services (11.8%)
- Online amenity reservations (18.1%)
What This Means for Property Managers
Older renters are loyal, stable, and long-term—but only if communities meet their expectations. To attract and retain this growing demographic, property managers should:
- Prioritize transparency: Showcase verified, detailed resident reviews.
- Foster community: Invest in resident events and opportunities for in-person interaction.
- Focus on practical convenience: Streamline essential processes like rent payment and maintenance requests.
- Be authentic: Avoid overhyping amenities or leaning too heavily on tech gimmicks.
As the rental market evolves, older generations are rewriting the rules. For communities willing to adapt, the rewards are clear: attracting – and retaining – long-term 55+ renters who value trust, convenience, and a true sense of belonging.
Interested in learning more about the preferences and expectations of the increasing long-term 55+ renter population? Check out the 2025 SatisFacts Online Renter Study.
