How to Advertise Your Apartments to Baby Boomers

Looking to expand your reach to prospective renters? Don’t forget about baby boomers. Now the second-largest generation after millennials, this group is an increasingly important segment of the U.S. renter population.

Baby boomers, born between 1946 and 1964, are shifting away from homeownership and towards renting as they age. Over a quarter of all renter households are headed by a person 55 or older, according to a 2019 study by the Joint Center for Housing Studies at Harvard University, with more seniors expected to enter the rental market.

And this generation has money to spend — nearly nine times the wealth of millennials, according to the U.S. Census Bureau. It’s no wonder, then, that this age group puts a premium on quality of life and high-end amenities, so owners and operators of four- and five-star properties in particular should take note.

How can you best position your community to target this demographic? Here’s a quick guide to what baby boomers want and how you can adjust your advertising strategy to meet their needs.

1. Emphasize your safety and security features

Safety is an increasingly important consideration for renters as they age. Half of renters ages 65 and up considered safety and security one of their top three most important factors when selecting a new residence, according to a recent renter survey by Apartments.com.

Compared to other age groups, renters ages 65 and up are also the most likely to say they consider smart locks an essential feature. One in five seniors in the survey selected this amenity as essential.

When advertising your community, make sure to highlight your safety features. Depending on your community, this could include smart locks, gated entrances, or security cameras. And if your neighborhood ranks low on crime stats, make sure to include this information in your marketing materials and apartment tours.

2. Offer the amenities baby boomers are seeking

Which amenities resonate most with older adults? Comfort and convenience are at the top of the list. In the recent survey, these features ranked significantly higher for seniors than other age groups:

• Smart home appliances. Renters 65 and up are more likely than other age groups to prioritize the convenience of smart appliances, like smart fridges, thermostats, and lighting.
• Air conditioning. While A/C is a top priority for renters across the board, it’s especially important for renters ages 65 and up. Almost 77 percent chose this amenity as essential, a larger percentage than for any other age group in the survey.
• Private outdoor spaces. While only 40 percent of renters ages 18 to 24 prioritized access to a private outdoor space such as a balcony, patio or garden, a whopping 60 percent of those 65 and up considered this amenity to be vital. Make it clear which of your apartments feature access to a private outdoor space, and include attractive photos of these spaces — and any views — in your listings.
• Work-from-home resources. Of all employed renters, those ages 65 and up are the most likely to work from home, with a quarter reporting they work fully remotely.  This is a great opportunity to showcase your amenities like high-speed internet, co-working spaces, and soundproof walls.

Keep in mind that older renters tend to have higher expectations about their apartments — and are willing to pay for these conveniences, so make sure to feature them prominently in your ads.

On the flip side, senior renters are typically less flexible about their requirements. While nearly a third of the youngest renters in the survey said they would adjust their criteria if they couldn’t find an apartment that met their needs, only around one in 10 older renters said they would be willing to change their criteria.

3. Promote an active, social lifestyle

Did you know that older renters are the most likely to live alone? While only one in five 18- to 24-year-old renters lives alone, over half of those ages 65 and up live without a partner, children, or roommates. This is the perfect opportunity to showcase the social features of your community.

If you host frequent community events, from movie nights to yoga classes, make sure prospective renters know about all you offer.

Renters 65 and up also care the most about living close to their friends and family. One in five consider this a priority when selecting a home, so they’re less likely to be flexible when it comes to location. That said, you can highlight your proximity to neighborhood events and resources, whether theatres, walking trails, or transit hubs.

4. Offer multiple tour options

Make sure your community offers more than just the traditional in-person tour with an agent. Renters ages 65 and up are interested in a variety of touring options, including in-person, self-guided, and virtual tours.

And while they appreciate gathering information online about your community, don’t think you can convert a lead with only a virtual tour.

At 40 percent, this group is the most likely to say they’re “extremely unlikely” to rent sight unseen, compared to only 22 percent of the youngest age group in the survey. Older renters have experience renting and have set their expectations higher. They want to know exactly what they’re getting into before they sign a lease.

It’s no wonder, then, renters grow increasingly less likely to want to change their living situation as they grow older. Half of renters in the 65+ age group said they weren’t planning to change their current living situation, compared to only a third of renters 18 to 24. So when renters in this age group choose your community, they’re more likely to stay for the long haul.

5. Keep your listings detailed

As renters grow older, the location of their apartment unit grows increasingly important. A whopping 96 percent of renters 65 and up described unit location within the building as important. Does the apartment face a busy road? Is the unit on the ground floor or top story? Take advantage of unit-level details in your listings to showcase these essential facts upfront.

6. Consider senior-specific networks

With Apartments.com, you have access to a network of up to 10 listing sites. If your community offers senior-specific housing, you can advertise on After55.com, which specializes in age-restricted housing for older adults. This includes independent living communities for active adults, as well as assisted living and continuing care retirement communities.

And if your community isn’t for seniors only, you can still get broad exposure across the standard six leading rental sites on the Apartments.com Network — positioning your community for all generations.