What’s the image that comes to mind when you think of renters? Is it bright-eyed Millennials, often dubbed the driving force of the rental market? Well, think again—they are not actually the biggest game changers when it comes to renting, according to our newest study on the US renter profile.

We tapped into CENSUS data from 2009-2015 and here’s what we found out:

It’s not so much about Millennials, as it is about their grandparents: Empty-nest Baby Boomers account for the biggest change in the renting population—almost 2.5 million senior households joined the renter cohort nationwide during the 6-year period.

Percentage-wise, the number of seniors aged 55 or over increased by 28%, as opposed to only a 3% uptick in renters 34 or younger. When it comes to education, renters holding a bachelor degree or higher take the lead by 23% and when talking about family type, families with no minor children saw the biggest growth rate (21%).

Where do these news renters live? Predominantly in the suburbs, across all age groups and nowhere is the increase more visible than in the segment of senior renters—39% more Baby Boomers live in the suburbs compared to 2009 and 21% more in the cities.

When looking at the metro level, Atlanta boasts the 6th biggest increase in Baby Boomer renters in the country: 44% vs. 18% increase in Millennial renters, both rates well above the national ones.

The national trend is also confirmed when it comes to the level of education. The largest gains of new renters were people holding a bachelor degree or higher—37% in Atlanta Metro, the 4th highest rate in the nation.

Suburban ATL is most sought-after by families with no children (44% growth), followed closely by the families with children (41%). The increases are much lower in the urban areas: 25% and 11%, respectively.

You can find out many more interesting facts from our full report and eye-catching visuals here:

https://www.rentcafe.com/blog/rental-market/real-estate-news/todayrenterprofile-older-highly-educated-suburban/