Forget the white picket fence and 30-year mortgage — Arizona’s retirees are doing things differently these days. More and more seniors across Phoenix, Tucson, and beyond are ditching homeownership and choosing to rent instead. And now we’ve got the numbers to prove it.
A new study by Point2Homes reveals that renters aged 65 and over grew by 2.4 million nationwide over the past decade — the largest jump of any age group. And here in Arizona? We’re right in the middle of it.
📈 Senior Renters Are Booming in Arizona
According to U.S. Census data analyzed by Point2Homes:
Phoenix-Mesa-Scottsdale:
- Renters aged 65+ increased by 28.7% from 2013 to 2023 — that’s 28,121 new senior tenants.
- It’s the largest net gain of any age group.
- The only other group to grow: renters aged 25–34, up 7.5%.
- Every other age group declined — especially 35–44 (-16.3%) and 55–64 (-12.6%).
- Single-family rentals among seniors grew 15.6%, while they dropped for all other groups.
Tucson:
- Seniors 65+ saw a 31% increase in renters — 8,675 more seniors renting.
- All other age groups declined sharply — including 55–64-year-olds (-23.4%) and 45–54 (-17.6%).
- Single-family rentals among seniors jumped 29.2% over the decade.
🧓 Why Are Seniors Choosing to Rent?
For many Arizona retirees, renting just makes sense:
- They’re cashing out: Selling a longtime home means instant equity and financial freedom — no need to reinvest at 7%+ mortgage rates.
- They’re done with maintenance: Forget fixing water heaters or mowing lawns in 115° heat. Renters call the landlord — and relax.
- They want lifestyle flexibility: Renting means they can move closer to family, travel seasonally, or test out a new neighborhood with no long-term ties.
- They’re downsizing: No more empty bedrooms or staircases to climb. Many want a single-level condo, patio home, or apartment — not more square footage to stress about.
- They’re retiring smarter: Renting reduces stress and commitments, which is starting to feel like the new American Dream.
💰 Investors: This Is a Stable, Growing Renter Pool — But You Need the Right Setup
Senior renters aren’t looking for fixer-uppers or weekend projects. If you’re investing in rental properties with this demographic in mind, here’s where to focus:
- Low-maintenance living is a must — condos, townhomes, or single-level homes with no stairs are ideal.
- Easy-care yards or none at all — go with desert landscaping or include landscaping services in the rent.
- If the property has a pool, manage it yourself — seniors love amenities but don’t want the upkeep.
- Quiet, safe neighborhoods close to healthcare, grocery stores, and walkable areas win big.
- Consider furnished or semi-furnished options and flexible lease terms for seasonal renters or snowbirds.
If you’re willing to offer convenience, comfort, and full-service upkeep, you’ll find this demographic rewards you with reliable, long-term tenants who value peace of mind over flash.
🏁 Final Thought
The idea that homeownership is the finish line is fading — especially in retirement. For a growing number of Arizona seniors, the new plan is simple: sell the house, sign a lease, and live life with fewer strings attached.
If you’re in real estate, don’t overlook this quiet but powerful trend. It’s not just about where people live — it’s about how they want to live.
featured Photo by Keith Tanner on Unsplash
AriZona Real Estate insider! 
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