The fastest-growing renter segment in the U.S.? Also the largest living adult generation, Americans aged 60 years and up currently account for 22 percent of the current population.
Renter households headed by adults aged 60 years and up increased 43 percent from 2007 to 2017, outpacing owner household growth and other age cohorts, according to RentCafé's data. Renter households aged 35 to 49 years grew by 17 percent in that time, and renter households under age 35 grew by 7 percent. The current median age for renter households is 42. Owner households aged 60 years or more grew by 31 percent over the course of the decade studied.
Our top 30 oldest cities all have a median age over 39.6 and are mostly retirement cities in Florida, California, or Arizona. In fact, Florida is home to 12 of the oldest cities, with Cape Coral, first in our top, boasting a median age of 47.9, followed by Hialeah, with 46.5. Sunny Scottsdale, AZ is third in our top, with a median age of 46, proving once more its high popularity among retirees in search of warm days and entertainment.
The population’s median age increase is also reflected in the median household age that saw a steady increase over the 10-year period, reaching 52 in 2017.
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