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Buying vs. renting is a question on many seniors’ minds.
According to 2023 U.S. Census Bureau data compiled by the National Investment Center for Seniors Housing & Care, the number of renters aged 65 and older increased 30% during the past decade, making it the fastest-growing group of renters in the country.
But beneath those statistics lies a more complex reality: many seniors are also thriving as homeowners. Some are selling homes they lived in for decades to purchase something more manageable, while others are entering the market for the first time. Whether they choose to rent or buy, older adults face unique decisions that require specialized guidance.
Researchers divide seniors into two distinct groups: Boomers I and Boomers II (also known as Generation Jones), which includes anyone born before 1955.
“While many seniors explore rental options, even in the Tri-Valley we also witness countless stories of older adults who are thriving as homebuyers,” said Tracey Esling, 2025 president of the Bay East Association of Realtors. “A key difference is working with professionals who understand the unique considerations that come with real estate transactions later in life.”
For every senior who chooses to rent, there may be another who discovers homeownership is a better fit for their lifestyle. Realtors with the Seniors Real Estate Specialist designation are uniquely trained to assist clients aged 50 and older. They understand the financial, emotional and practical factors that shape housing decisions for older adults.
The factors driving some seniors toward renting like rising home values, desire to unlock equity, reduced maintenance responsibilities and flexibility to relocate are often the same factors that make strategic homeownership appealing to others.
Realtors who have earned the SRES designation understand how to evaluate housing options that work for aging in place, navigate the timing of sales and purchases to minimize stress, and coordinate with the various professionals that seniors might need during these transitions.
“Selling a long-time home and purchasing something new or buying a home for the first time in years, can be both exciting and overwhelming,” Esling added. “This is more than just a real estate transaction – it’s a life transition.”
Today’s real estate market offers seniors more choices than ever before. Rental communities designed for active adults are growing, while homeownership opportunities tailored to the needs of older buyers are expanding as well.
The key is having guidance from someone who understands that these decisions involve more than square footage and price. Considerations like future mobility, proximity to medical care and long-term maintenance are just as important.
“The real story isn’t about choosing between renting and buying, but about having the right guidance to make the choice that best fits each individual’s goals, finances and vision for their golden years,” Esling said.
Editor’s note: Devin Davis is a public affairs specialist for the Bay East Association of Realtors, based in Pleasanton.
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