Drew Dixon
While Florida has always been a haven for seniors to retire, one metropolitan market in the Sunshine State is rapidly emerging as a top destination for renting among the aging population.
Jacksonville is now ranked second in the nation for growth among retirees who prefer renting over buying properties. Realtor.com has just published a report showing that the fastest growth in that age group since 2013 is in Baton Rouge, Louisiana. However, that is closely followed by Jacksonville, while Austin, Texas, was third. Those three markets combined have seen an 80% increase in seniors who rent rather than own a home.
Overall, approximately 2.4 million seniors have started renting homes instead of purchasing them 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, the number of renters declined by 9%.
“Many seniors are on fixed incomes, making them especially sensitive to housing costs,” said Realtor.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 — has made renting a more budget-friendly and manageable option.”
Florida remains a popular destination for seniors to retire. But beyond Jacksonville, the shift toward renting instead of owning for retirees is particularly notable in other areas, such as the North Port and Sarasota market, where senior renters now make up 21.3% of that market, and Cape Coral and Fort Myers now have 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 increasingly 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.”
