Welcome To Boomer Town: Dallas Is No. 4 In The Nation For Baby Boomer Renters

So step aside Mr. Millennial, the boomers are moving in.

Dallas ranked fourth in the nation by increase in the number of baby boomer renters from 2009 to 2015.

A census data study by RentCafé shows that 2.5 million boomers nationwide joined the renter cohort, the largest net and percentage change (28%) of any generation. Baby boomers are eschewing their homes for rented digs in walkable communities where they can socialize, downsize and empty nest in bliss. The under-34 cohort rose by only 3% and the 35 to 54 cohort registered a 14% increase, just half the rate of boomers. The report cites the housing market crash, the need to downsize and change of lifestyle as the primary drivers of this massive increase in renting boomers.

“Lowering living expenses, looking for a different lifestyle, less house-related work and overall less responsibility can be achieved by downsizing, so a lot of retirees opt to rent,” Re/Max Masters broker Simona Solomie told RentCafé.

According to the report, Dallas saw a 46% overall increase in baby boomers renting housing over the duration of the study. The boomers are gravitating primarily to spots in the suburbs with 38% growth in empty nesters and 39% growth in boomers with families living with them. Urban areas saw an increase too, but not nearly as drastic, with empty nesters increasing 21% and non-empty-nesters increasing 15%. RentCafé said the change in suburban life, the rise of “suburban downtowns” and “transit-oriented” communities and the typically lower rents are all factors drawing the boomers in or more accurately, out.

Continue reading this story with a free account

Log in or register
Sign up for more articles like this
Subscribe to Bisnow's Dallas-Fort Worth Newsletters
Related Stories

MG Developer Faces 6 Lawsuits Alleging Millions In Overdue Debt

OZ Incentives Weren't Enough To Blunt Economic Headwinds For Philly Multifamily Projects

Mamdani Reveals Housing Court Fast Track Targeting Landlords, Not Evictions

Developer Sues JLL For $12M, Claiming It Fudged Numbers On D.C. Project

Kennedy Wilson In Pole Position For £750M Rented Resi Portfolio

'Aggressive' Antitrust Settlement Unwinds $100M Zillow, Redfin Deal

Pace Of NYC Housing Construction Plunges As Developers Play Small Ball

Alliance Building Houston-Area Complex Amid Declining Multifamily Construction

PMC Proposes 31-Story Apartment Building In Center City West

Developers To Bring 83K SF Industrial Project To Colleyville: The DFW Deal Sheet

Jemals Sell Georgetown Building To Developer Planning Conversion

Efficiency, Speed And Experience: What CRE Needs To Know About The New Texas Business Courts