Numbers on who rent in the United States might surprise you.
Older Americans are the fastest growing segment of renters across the United States. According to a report by the Joint Center for Housing Studies of Harvard University, while roughly one-third of renters are under age 35, nearly as many are now age 50 and over, which has driven up the median age of a renter to 40!
Why is renting becoming more attractive to near and post retirees? As they calculate the cost of living during the next phase of their lives, many are realizing that having quick and easy access to the freed up equity from their previous home is more important than more space; a backyard to maintain; and all of the other headaches that homeownership demands.
And for those who are considering a move to a locale with a lower cost of living, you may want to rent to see how it goes, without making a big financial commitment. If you’re getting ready to sell, go to JillonMoney.com for more information.