Renting is not just for the young anymore | Take Me Home | Bend | The Source Weekly - Bend, Oregon
The Source Weekly’s reporting is made possible by the power of your support. Be a part of it!
Search
Settings
Pin It
Favorite

Renting is not just for the young anymore 

H

istorically, rental housing has been depicted as starter housing for younger people, mainly in their 20s whose goal was to eventually own a home. Apartments were basically just temporary or transitional shelters and therefore had few amenities. The recent housing crash changed that as many, both young and old, turned to the rental market and now appear to be settling there.

According to the U.S. Census Bureau statistics recently analyzed in RENTCafé (an online rental listing service), between 2009 and 2015, the rental rate of seniors aged 55 and over increased by 28 percent, and the age group 34 years or younger increased by 3 percent. Further analysis of the numbers shows that the highest increases were in renters with at least a bachelor degree (23 percent) and families without children in the household (21 percent). So, basically, higher educated empty-nesters seem to account for most of the increase in the rental market.

The report does not analyze the reasoning behind the increase in senior renters, but the recent housing crash likely had a big influence, along with the difficulty of finding an affordable home for downsizing. Apartments and rental housing also have an appeal with less maintenance and more amenities that seniors may find desirable by not having to maintain yards and homes. This was a bit of a surprise, as normally one would expect more of an increase in younger renters than baby boomers.



About The Author

Nick Nayne, Principal Broker

Principal Broker at The Broker Network Realty in Bend, OR. Over 12 years experience in Real Estate working with buyers, sellers and investment properties.
Pin It
Favorite

Speaking of Rental Trends In Bend Oregon, bend Oregon Rental Rates

Comments

Subscribe to this thread:

Add a comment

Readers also liked…

Today | Sat | Sun | Mon | Tue | Wed | Thu
Submitting an event is free and easy.

Newsletter Signup

Get Central Oregon daily news
directly in your inbox

Get Social


Latest in Take Me Home

More by Nick Nayne, Principal Broker

Want to advertise with us?

For info on print and digital advertising, >> Click Here

© 2020 LAY IT OUT INC | 704 NW GEORGIA AVE, BEND, OREGON 97703  |   Privacy Policy

Website powered by Foundation