November 5, 2024 2:26 pm
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Baby boomers, like millennials, are flocking to rentals offering a ‘hands-free’ lifestyle

Arizona

ArizonaBaby boomers are the fastest-growing group of renters, Census figures show.

More than 5 million baby boomers are expected to rent their next home by 2020.

Many boomers want amenity-rich full-service buildings like millennials, brokers tell CNBC.

By Amy Zimmer | CNBC

Russ Chung once lived in a sizable Midwest home, but he recently downsized to a luxury one-bedroom rental in Midtown Manhattan just blocks from Central Park.

Now, rather than mowing a lawn, the 60-year-old higher education administrator spends his free time visiting museums and taking in New York’s other cultural offerings.

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