From 2013 to 2023, senior renters aged 65 and over increased by 2.4 million, representing a 30% growth, the highest among any age group. Many seniors are on fixed incomes, making them sensitive to housing costs. Rising prices and interest rates make home buying riskier for seniors. Senior-focused rental communities offer a manageable option. While Florida remains popular, the fastest growth in senior renters is seen in Baton Rouge, LA, followed by Jacksonville, FL, and Austin-Round Rock, TX. Seniors are opting to rent for easier living, selling larger homes to reduce costs and maintenance.
Many seniors are on fixed incomes, making them especially sensitive to housing costs. In today's high-price, high-interest-rate environment, buying a home can feel riskier and more financially burdensome than it was a decade ago. At the same time, the rise of senior-focused rental communities-offering accessible design, social amenities, and supportive services-has made renting a more budget-friendly and manageable option.
As a real estate agent in Louisiana, I'm seeing more seniors renting in Baton Rouge and New Orleans because it just makes life easier. A lot of them are selling bigger homes to avoid rising insurance costs and the hassle of upkeep. Things like yard work are just getting too much in this heat.
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