CoStar Insights

Across the Boomer Generation, Renter Households – and Demand – Continues to Grow

by Shara Dahl | May 11, 2016


For nearly a decade, 8.3 million households have joined the US renter pool.  Of that increase, six million can be attributed to the decline in the homeownership rate – in other words, most of the increase in the renter pool is a result of homeowners suffering a foreclosure or because existing renters have not moved into homeownership.  At the same time, we have seen significant growth in the prime renting age cohort (those aged 20-34-years-old) as millennials have started to form their own households. However, there has been even greater growth – though far less press – around the Baby Boomers as renters. The growth in renter households for those over age 55 is more than 3.5 million, compared to 1.5 million for those under 35-years-old.

Clearly, the past decade has been marked by a long-term trend of Baby Boomers joining the renter population.  Overwhelmingly, these renters are empty-nesters, still active in the workforce, who no longer want to maintain large homes or spend their time in traffic.  A significant portion of this population are moving into city centers and seeking out luxury developments with great amenities that make life convenient and fun.  Unsurprisingly, the multifamily market has seen a spike in renters of luxury product across older cohorts. 

“Renters aged 55–64 are accounting for the largest increase in the absolute number of renter households, due not only to their sheer numbers, but to an overall shift towards renting,” explained Suzanne Mulvee, CoStar Portfolio Strategy Director of U.S Research. “The increase in older, often more affluent renters has been a boon for the renter-by-choice market.”

That said, Mulvee added that it’s unlikely that such a dramatic cutback in homeownership rates will be seen again soon, adding that realistically, the average annual renter demand will grow at a slower pace over the next five years, with the exception of the 65-plus cohort.  The market can likely expect that the biggest gains in the renter pool over the next five years will be from those under 35, who, at least initially, are more likely to opt for Class B than A units. The continued strength in older households, both renter and homeowner, should fuel demand for age-restricted housing.

The bottom line?  The rise of the renter continues, and various cohorts are expected to contribute to growth and demand in the future. 


Leave a comment
  1. blog commenting fiverr $5 | Sep 25, 2018
    it's on another level. Players are even weighing in, with Golden State's Draymond Green complaining (for some reason) about the level of competition the Cavs have faced commenting fiverr $5
  2. alex | Sep 25, 2018
    Thanks for writing this blog, I was some what well read with this topic. It’s always nice learning new things. Essay Writing UK
  3. da | Sep 24, 2018
    Good day, I just hopped over in your web site via StumbleUpon. Not something I would generally read, but I favored your emotions none the less. Thank you for making something value reading. cats best litter review
  4. ads | Sep 24, 2018
    Gaga’s albums have picked up most commonly very good reviews,with critics pointing out her exclusive place in pop music Best GPS Dog Tracker
  5. asd | Sep 24, 2018
    It’s the kind of film where if nothing is on, sure it would be a great way to kill time.
  6. sad | Sep 24, 2018
    well, i bought some digital pedometer on the local walmart and it is great for monitoring your performance when walking- Montre connectée
  7. sad | Sep 24, 2018
    skin care is easy, all you have to do is eat nutritious foods and do some daily cleaning routine of your skin’ eddm full service
  8. asd | Sep 24, 2018
    There’s some awesome information here. If more people were aware of this, the world would be a much better place! I can obviously see that you have put a lot of effort into this post. Please keep up the good work; the world deserves it! movie hd apk
  9. sda | Sep 24, 2018
    bed frames that are based on steel would give you a more durable bed and a bed that last longer,, guest blog posting service
  10. sda | Sep 24, 2018
    We still cannot quite believe that I really could often be some checking important points on your webblog. His dad and i also are sincerely thankful for generosity for giving me possibility pursue our chosen profession path. Basically material I managed to get out of your web-site. bigg boss 12 watch online
  11. ASHUTOSH MALAKAR | Sep 23, 2018
  12. das | Sep 23, 2018
    Everything you need to know about African Mangoo information to you. bandar agen
  13. sad | Sep 23, 2018
    I am very happy to read this. This is the kind of manual that needs to be given and not the random misinformation that is at the other blogs. Appreciate your sharing this greatest doc. judi online
  14. asd | Sep 23, 2018
    I do accept as true with all the ideas you’ve introduced on your post. They’re very convincing and can definitely work. Still, the posts are very quick for beginners. May you please lengthen them a little from subsequent time? Thank you for the post. Location voiture Marrakech Aéroport Agence pas cher Car Rental Ltd
  15. sohail khatri | Sep 23, 2018
    This precise is generally apparently stinky and along side excellent conclusive along at the back of for sure honest-minded and besides admittedly useful My influence is seeking to find in front supposed for this unique beneficial stuffs visit
  16. sohail khatri | Sep 22, 2018
    Very efficaciously written information. it will likely be useful to all of us who makes use of it, consisting of me. keep happening the sort take effect. For certain i will check out extra posts. This web page seems to earnings a fun amount of traffic. visit
  17. ad | Sep 22, 2018
    Many individuals were enthusiastic sportsmen or enjoyed music and dancing. You may recall that you were most joyful on the performing track. Nonetheless, with increasing obligations you might have found no time to have pleasure in any of an interests. Do you suffer from depression and would like to get free from its abysmal depths without lifelong antidepresants? You could attempt and help yourself to overcome depression by natural means. Rocks Beach Vacation Rentals with pool
  18. asd | Sep 22, 2018
    You made some respectable points there. I seemed on the internet for the problem and located most individuals will associate with together with your website. Location voiture Marrakech aéroport Agence pas cher Car Rental
  19. das | Sep 22, 2018
    I was just having a conversation over this I am glad I came across this it cleared some of the questions I had. Location voiture Marrakech Aéroport Agence pas cher Car Rental Ltd
  20. asd | Sep 22, 2018
    you are really a good webmaster. The site loading speed is incredible. It seems that you are doing any unique trick. Furthermore, The contents are masterwork. you have done a excellent job on this topic! trop de tension artérielle
  21. asd | Sep 22, 2018
    How can i extend the range of a Wireless N router? I have an Xtreme N handheld router (Dlink). I have to extend the reach in the wireless signal. I know how to do it for the G signal. I want to know how to do the idea for an N sign. Is it possible make use of regular N routers as repeaters. If so, how to configure them. Thanks for that information. Xem Anime Vietsub Online
  22. sohail khatri | Sep 22, 2018
    I really appreciate this wonderful post that you have provided for us. I assure this would be beneficial for most of the people. VIP FINANCING SOLUTIONS REVIEWS
  23. Eliza Weaver | Sep 20, 2018
    <a href=''>imessage on pc</a> application is allowed to utilise where you can go great calls and messages with its assistance. 
  24. seo | Sep 19, 2018
    I truly like you're composing style, awesome data, thankyou for posting.  cashfactoryusaloan site
  25. Mukesh | Sep 19, 2018
    Great spaces and best use of that space help a company to provide functionality for serving different purposes under the same cloud. You office interior puts a direct impact on your company image, thus, it has to be impressive. We at Beyond Vision being the most preferred Office Interior Designer In Delhi, understand the need of a Office space and able to serve the same. Visit our Website office interior designer in delhi
  26. sohail khatri | Sep 19, 2018
    You made such an captivating fragment to go browsing, giving all situation enlightenment for us to earnings expertise. thanks for sharing the such insinuation subsequent to us to gate this... Ninja Turtles
  27. Needy News | Sep 19, 2018
    The article is very nice and knowledgeable, thank you for sharing it!!!
  28. sohail khatri | Sep 19, 2018
    Pretty pleasurable state. I just stumbled a propos your blog and wanted to declare that I have really enjoyed reading your blog posts. Any quirk I'll be subscribing to your feed and I desire you pronounce subsequent to more soon. Big thanks for the useful info. e zigarette kaufen
  29. Arthur Fuentez | Sep 18, 2018
    Nice to see this post please also create the post about Buy Proxy
  30. alex | Sep 18, 2018
    Hi, you used to write magnificent articles about seattle plumbers, but the last several posts have been kinda lackluster… I miss your tremendous articles. Past several posts are just a little out of track! Seattle Plumbing I Need A Loan Reviews
  31. sda | Sep 18, 2018
    I just added your RSS Feed on my RSS reader, it is so nice to read your blog.`”,;; Freedom APK
  32. Tom Randal | Sep 18, 2018
    If most people are moving to rental houses as opposed to being house owners, I feels that's a really bad sign. What will happen to them once they get to an age when they cannot work to pay their rent? Or when they get terminally sick and can't raise rent
  33. Tom Randal | Sep 18, 2018
    If most people are moving to rental houses as opposed to being house owners, I feels that's a really bad sign. What will happen to them once they get to an age when they cannot work to pay their rent? Or when they get terminally sick and can't raise rent?  <a href=""></a>.
  34. asd | Sep 18, 2018
    I’ve learned new things out of your blog post. One other thing I have observed is that in many instances, FSBO sellers will reject people. Remember, they might prefer not to use your companies. But if anyone maintain a reliable, professional connection, offering help and being in contact for about four to five weeks, you will usually manage to win a conversation. From there, a listing follows. Thanks a lot Tanishq showroom
  35. sad | Sep 18, 2018
    Preferably, when you gain knowledge, are you able to mind updating your website with an increase of information? It is very ideal for me. Fine dining restaurants in south mumbai
  36. Radha Krishana images | Sep 18, 2018

    Radha Krishna is the supreme God and Goddess of Hinduism and they depict the feelings of love and bonding between Gods and Goddesses. It is said in the ...

    [url=] images of krishna and radha [/url]

  37. pinoy tv channel | Sep 17, 2018
    Ang Probinsyano Latest Pinoy TV 1 Serials Online in HD Quality.Asintado Pinoy ABS CBN Shows Dramas Online HD, Victor Magtanggol Pinoy Channel latest Episodes Halik 2018 in Ultra HD Quality. Watch Pinoy tambayan Dramas Online. Watch the Latest Episodes of Pinoy Network Serials Online Free. Watch Onanay Full Episodes of Pinoy Channel HD Video,
  38. pinoy channel | Sep 17, 2018
    Ang Probinsyano Latest Pinoy TV 1 Serials Online in HD Quality.Asintado Pinoy ABS CBN Shows Dramas Online HD, Victor Magtanggol Pinoy Channel latest Episodes Halik 2018 in Ultra HD Quality. Watch Pinoy tambayan Dramas Online. Watch the Latest Episodes of Pinoy Network Serials Online Free. Watch Onanay Full Episodes of Pinoy Channel HD Video,
  39. seo | Sep 17, 2018
    Awesome post, you have pointed out some incredible focuses , I in like manner think this s an exceptionally brilliant site.  Cash advance baton rouge louisiana
  40. asd | Sep 17, 2018
    i have seen a few mobile browsers and used some of them, they are still a bit slow; Freedom APK Uptodown
  41. seo | Sep 17, 2018
    Extremely pleasant article, I delighted in perusing your post, exceptionally decent share, I need to twit this to my devotees. Much obliged!.  packers and movers hinjewadi
  42. alex | Sep 17, 2018
    housewarming Harmi bring about Frinel paraclete dubin sjankata poncela seeds Pictures Of Halloween Backgrounds
  43. seo | Sep 16, 2018
    Much obliged to you for peopling get the data they require. Incredible stuff not surprisingly. Keep up the considerable work!!!  Adhum Carter
  44. asd | Sep 16, 2018
    Awesome post, will be a daily visitor from now on! seo service online.
  45. Bigg Boss 12 | Sep 15, 2018
    Bigg Boss 12 Colors Tv Watch All Episodes Bigg Boss Season 12.
  46. Nazar | Sep 15, 2018
    Nazar Ashok, Raman's former boss and the-then boyfriend of Shagun, orchestrates a plot to defame Ishita's cousin, Mihika, and make her his wife. Cast aside, Shagun seeks refuge for herself and her son, Aditya (Adi), at the Bhalla household, where she plots against Ishita to reclaim Raman. However, Ishita and Raman only grow closer and Shagun is thrown out of the house.
  47. sohail khatri | Sep 15, 2018
    i in no way understand the use of adobe shadow until i motto this nation. thank you for this! that is deeply sociable. guerra en Siria
  48. alex | Sep 15, 2018
    I am curious to find out what blog system you happen to be working with? I’m experiencing some minor security issues with my latest website and I would like to find something more safeguarded. Do you have any recommendations? bitcoins in Australia
  49. Mukesh | Sep 14, 2018
    Our design is created with meaning and with a mutuality that satisfies our clients’ aspirations and our vital need for human expression. Our success has been the byproduct of our endless curiosity, motivation, and hard work. Your money will be invested in good people that are chosen based on the merit of their ethics and sense of values, in addition to their knowledge and talent. Good people when given the opportunity can make positive and meaningful contributions to the world around us.Visit our site web design
  50. asd | Sep 13, 2018
    I  consider  something  truly  interesting about your  weblog  so I  saved to fav. Small Pdf Tools

    Leave a comment


    This post may include "forward-looking statements" including, without limitation, statements regarding CoStar's expectations or beliefs, which are based on our current beliefs and various assumptions concerning future events and circumstances that are subject to change.  Actual results and events may ultimately be materially different.  All forward-looking statements are based on information available on the date published, and we assume no obligation to update these statements.  You should not construe this post as investment, tax, accounting or legal advice.