New Report Shows Rent Prices Are Falling as a New Generation of Retirees Look for Homes Where They Can Age in Place
When it comes time to retire, many people opt to leave their homes and move elsewhere. Sometimes it's because they want to downsize; other times, it's more about affordability. And while there may be all different types of motivations for making a move, seniors often look for homes that will allow them to age in place.
Thanks to a new report from Realtor.com, it sounds like those retirees and those about to retire may be able to find a fresh new wave of options in an unlikely place: Rental properties. That's because this new report says that rental prices continue to drop in most major metros. Keep reading to learn more.
A New Report Shows Rental Prices Continue to Decline
According to a report from Realtor.com, April 2026 marks the 33rd month in a row that 0- to 2-bedroom rental properties have seen a price drop. The median average fell $29, according to the report, which is 1.7 percent less than last year.
That's not all the good news, either. The 50 largest metros report a median rent of $1,673, which is $92 less than the 2022 summer peak. Rental prices are still higher than pre-pandemic levels by about $254 a month, but the numbers are trending down.
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More Rental Inventory May Help Retirees
According to Realtor.com's findings, there's been a bit of a commercial real estate boom, and multifamily housing is seeing a huge spike in construction. That's especially good news for seniors who want to live somewhere with a built-in community of neighbors, especially if they are hoping to age in place.
Many of these multifamily dwellings are managed by management companies that handle routine maintenance, allowing retirees to toss out their snow shovels and lawnmowers as soon as they settle in.
However, they aren't being built at the same rate nationwide. "The story isn't the same in every region, and that matters for where renters will feel relief next," Jiayi Xu, economist at Realtor.com, said in an email to Parade. "The Northeast is already seeing new multi-family units come online and rents respond in some large markets. The West is telling a very different story."
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These Metros Are Seeing the Biggest Drop in Price
Retirees who are keen on ditching the responsibility and cost of homeownership may want to consider the following metros where Realtor.com says the biggest drop in rental prices is happening:
- Atlanta-Sandy Springs-Roswell, Georgia, with a median asking price of $1,549 a month
- Austin-Round Rock-San Marcos, Texas, with a median asking price of $1,362
- Baltimore-Columbia-Towson, Maryland, with a median asking price of $1,806
- Birmingham, Alabama, with a median asking price of $1,181
- Columbus, Ohio, with a median asking price of $1,174
You can view the full list by reading the complete report.
Now, while choosing the place you want to spend your golden years can be challenging, settling on a place with affordable housing is always a good idea. If you're unsure what you want to do, consider talking to a retirement professional about your retirement goals and what's important to you. They should be able to help you determine where to head and what you can actually afford to spend each month.
Disclaimer: This article is for informational purposes only and does not constitute financial advice.
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This story was originally published May 14, 2026 at 12:00 PM.