Look out Millennials, you've got growing competition in the rental market.

Renters are looking a little older these days.

Rental applicants tend to conjure up images of recent college grads looking to start their life in the real world. But Millennials are facing increased competition from people who have already spent decades in adulthood, and may have better credit and higher income.

Source: Millennials have some competition in the rental market: older renters – Jan. 14, 2016