Roughly 10.6% of Seattle-area renters were 65 or older in 2023, up from 9.4% a decade earlier, according to a report by rental listing site Point2Homes.
Why it matters: More older Americans are renting, trading ownership for flexibility.
By the numbers: Nationwide, the share of renters 65 or older rose to 13.4% in 2023 from 10.4% in 2013.
That age group saw the biggest jump of any group: 2.4 million more renters over the decade, researchers found.
The big picture: Many older adults are on fixed incomes and stay in their homes because they're mortgage-free or have a low interest rate.
But others are renting for less upkeep, to be closer to family, or for walkable neighborhoods.
Many are also putting off retirement and want the flexibility to move for a job.
What we're watching: "With record numbers turning 65, the shift not only echoes the broader aging of the nation, but also may signal a new approach to housing," Point2Homes researchers wrote.