While Florida has always been a haven for seniors to retire to, one metropolitan market in the Sunshine State is rapidly climbing for a place for increasing renting for that age bracket.
Jacksonville is now ranked second in the nation for growth among retirees who want to rent instead of buying properties. Realtor.com just published a report that shows the fastest growth in that age group since 2013 is being seen in Baton Rouge, Louisiana. But that is closely followed by Jacksonville while Austin, Texas was third. Those three markets combined have seen an 80% increase in seniors who rent instead of owning a home.
Overall, some 2.4 million seniors started renting homes instead of purchasing in the past decade. That is more than any other generation, according to the Realtor.com analysis. That’s a 30% jump in that age group who now rent. Conversely, among Generation Z, renters declined by 9%.
“Many seniors are on fixed incomes, making them especially sensitive to housing costs,” said Reatlor.com economist Jiayi Xu. “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 — have made renting a more budget-friendly and manageable option.”
Florida continues to be a favorite destination for seniors to retire. But beyond Jacksonville, the shift toward renting instead of owning for retirees is particularly noted in other areas such as the North Port and Sarasota market where senior renters now makeup 21.3% of that market and Cape Coral and Fort Myers now has 18.5% of seniors who are renters.
“I work with many seniors who decide to rent,” says Karen Holt, global adviser at Premier Sotheby’s International Realty. “They’ve done the big house and yard. Now, they want a low-maintenance kind of lifestyle.”
While Florida will likely remain popular among retiring seniors for the foreseeable future, other areas of the country are becoming more attractive for those entering their Golden Years.
“Compared to Florida, which has long been a popular but increasingly expensive retirement destination, many parts of Louisiana, Texas, and the Carolinas offer more affordable housing and cost of living, which is especially important for seniors living on fixed incomes,” adds Xu.
“In today’s high-rate, high-price homebuying environment, purchasing a new home can feel financially risky,” Xu said. “Renting, by contrast, often offers a more predictable and manageable alternative—especially in markets where there are rising senior-friendly rental options.”
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