Across the Twin Cities, a quiet shift is reshaping the rental market: more and more seniors are trading their single-family homes for apartments.
According to a recent Axios report, seniors (65+) now make up more than 15% of all renters in the metro area, up from about 12% just a few years ago. The surge is fueling demand for new multifamily construction and raising big questions about how cities, developers, and policymakers adapt.
Why Seniors Are Downsizing
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Less maintenance, more freedom. Many “empty nesters” want to shed the yardwork, snow shoveling, and upkeep that come with a house.
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Lifestyle & amenities. New buildings often include community spaces, game rooms, and even kid-friendly areas designed with visiting grandkids in mind.
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Affordability & availability. While younger renters dominate the market (ages 25–34 make up about 30%), older renters are growing fastest — partly because apartments are easier to find than condos for purchase.
A Community Impact
This trend has ripple effects across Minnesota:
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Opening up houses for younger families. As seniors move into apartments, single-family homes hit the market, easing supply for buyers.
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Making multiunit housing more acceptable. Some suburbs resist large apartment developments, but “senior housing” is often viewed more favorably.
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Shaping development patterns. Projects like The Reserve at Arbor Lakes in Maple Grove highlight how design can cater specifically to older adults while still welcoming family visits.
What’s Holding Back Senior Homeownership?
Many seniors say they would prefer condos over rentals, but two major hurdles stand in the way:
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High construction costs
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Minnesota’s liability laws, which make condo projects riskier for developers
Until those barriers are addressed, renting remains the most accessible downsizing option.
The Road Ahead
The senior rental boom highlights a broader shift: apartments are no longer just for young professionals. With aging boomers driving demand, cities, developers, and policymakers must plan for an older rental population by rethinking design, zoning, and housing policy.
For now, the Twin Cities’ answer to “who’s moving into all these new apartments?” is clear: a growing number of seniors ready to embrace a new way of living.
