Solo residing is now not a state enforced on a partner when their different half passes away, however more and more a life-style alternative many People favor or have discovered themselves in when their household lives elsewhere, and the concept of cohabitation doesn’t enchantment.
For landlords, catering to this rising demographic generally is a huge enhance to the underside line. In response to KFF Well being Information, slightly below 30% of People aged 65 and older now reside alone—a dramatic enhance from 10% in 1950. Decrease marriage charges, increased divorce charges later in life, the choice to not have kids, and the post-COVID pandemic want to reside in isolation are a few of the components driving the rise in solo residing.
In response to Yardi’s RentCafe information, summarized by NAI World, the variety of renters residing solo elevated by about 1 million, or 6.7%, from 2016-2021. Solo renters are particularly prevalent in high-growth job markets akin to Salt Lake Metropolis and a number of other Texas metros, the place in-migration is powerful.
In Salt Lake Metropolis, the solo-occupant inhabitants elevated by almost 25%—about 50,000 individuals—accounting for 15% of town’s renter inhabitants. Though child boomers are nonetheless the primary demographic of solo renters, making up 32.4% of them, per RentCafe information, 29.5% of millennials are flying solo. As well as, millennials’ common wage of $55,973 is greater than $22,000 greater than that of the typical renter, which means this technology has cash to spend.
The Affordability Concern
Affordability challenges within the for-sale housing market are one more reason for the rise in solo renters, as renting is now cheaper than homeownership when mortgage funds, taxes, insurance coverage, and upkeep are factored in.
Nonetheless, that doesn’t imply renting is a breeze for solo dwellers, particularly for older renters on fastened incomes. AInvest’s current evaluation reveals that the share of solo senior households spending over 50% of their revenue on housing was over 16% in 2020.
An Alternative for Buyers
This 12 months, the oldest boomers will flip 80, Senior Housing Information stories. With the boomer inhabitants rising, comprising 64 million individuals, or almost one-fifth of the inhabitants and rising, the housing business isn’t maintaining. In reality, the variety of senior housing amenities in some markets is shrinking.
This presents a chance for landlords if dealt with accurately. RentCafe’s information reveals that, on common, older tenants are prepared to pay a premium for privateness, however general face monetary burdens as a result of they can’t break up prices with roommates or companions.
Some seniors notice the necessity for companionship and cost-cutting and have moved in with roommates. A 2025 senior housing traits report from NIC MAP says the sector will want 560,000 extra models by 2030 to fulfill the per-capita availability goal.
“Lots of our communities don’t have the housing that many growing old adults can afford, with options that assist them, in areas the place they need to reside,” mentioned Rodney Harrell, PhD, AARP vice chairman of household, house, and group. “To fulfill this rising want, we should broaden the nation’s housing inventory and work to make our communities extra livable with an all-ages mindset.”
Curiously for traders, amongst these interviewed within the AARP survey, 75% of adults aged 50-plus mentioned they nonetheless wished to reside in a single-family house and weren’t eager on residing in a group for older individuals. One in 4 present householders aged 65+ has mentioned they might take into account shopping for or constructing an ADU.
Cohousing communities have been a approach for seniors to take care of independence whereas nonetheless feeling linked to a group. In Silicon Valley’s Bay Space, a three-story constructing comprising 19 models opened in 2015, The Wall Road Journal reported, and there’s a 20-to 30-person ready checklist to maneuver in.
Making Common Leases Senior Compliant
Most seniors growing old in place should not trying to lease two-story homes, however moderately small, single-family models with accessible flooring plans, step-free entries, seize bars, good lighting, and walk-in showers, in keeping with The Nationwide Institute on Ageing.
Lots of these options might be added regularly to present small leases to make them ADA-compliant. Nonetheless, there are different steps to take if you wish to take the method to the following degree and convert a single-family house right into a residential assisted residing house, as documented on this BiggerPockets Boards thread, which might be extremely worthwhile however requires acquiring the appropriate permits and licenses. There are corporations that may help within the course of.
Serving the Wants of Single-Tenant Renters: Midwest Cities The place Numbers of Solo Renters Are Hovering
PwC’s and the City Land Institute’s 2026 Rising Developments In Actual Property report reveals that senior housing, adopted by workforce housing—each heavy single-tenant-based sectors—are two of essentially the most in-demand housing sectors this 12 months. The cities the place solo renting is hovering have each a excessive proportion of boomers and millennials looking for tech-based jobs.
The Midwest, particularly Akron, Toledo, and Dayton, Ohio, has a low price of residing and a better proportion of older residents. Equally, Pittsburgh is mostly cheaper to reside in and has a mixture of older residents and youthful tech employees centered round huge tech corporations akin to Alphabet’s Google, Microsoft, Fb, Nvidia, and others.
Why Solo Renters Make Good Tenants
Much less harm
Fewer tenants in a rental means much less put on and tear.
Excessive demand
As talked about, between 2016 and 2021, the variety of renters residing alone elevated by about 1 million individuals to 16.7 million, a 6.7% soar that made solo renters the fastest-rising renter group within the nation.
Increased-income tenants pays a “solo premium.”
This doesn’t apply to all solo renters, in fact, however there are many who’ve important financial savings and belongings or are employed in higher-paying tech jobs who can pay premium rents to reside alone.
Less complicated property administration
Fewer tenants equals fewer property administration complications.
Longer-term rentership
This is especially true of older tenants. They’re not trying to transfer. They need to discover a place they will settle into for the lengthy haul, prioritizing privateness, security, facilities, and versatile digital providers over sheer measurement.
How one can Appeal to Solo Renters
Design smaller, environment friendly, and extra inexpensive models.
In response to RentCafé’s 2024 evaluate, “most cities are nonetheless experiencing a decline in sq. footage. As an illustration, Seattle ranks first amongst cities with the smallest new flats, with models accomplished between 2015 and 2024 averaging 649 sq. toes. That’s a 57-square-foot lower in comparison with older leases.”
With the nation mired in a housing affordability disaster, financial savings beat measurement each time.
Emphasize security and neighborhood really feel.
Security is without doubt one of the high priorities for tenants, particularly older residents, together with walkability, in keeping with RentCafe.
Supply robust, photo-rich, easy-to-navigate digital walkthrough excursions.
Nearly 50% of 5,000 surveyed tenants from RentCafe mentioned that clear images and movies of particular models had been useful, whereas 39% interviewed by iApartments have used self-guided excursions, and 26% have mentioned they like a tour with out a consultant round.
Supply layouts that accommodate work-from-home jobs.
Solo renters are sometimes distant employees. Guarantee your rental contains alcoves and areas that may accommodate a desk, making a work-from-home workplace.
Present storage, outside area, and parking.
These components have additionally ranked extremely in surveys for solo renters, particularly those that spend lengthy intervals at house.
Value leases with “solo premium” pricing.
RentCafe stories that solo residents want about $8,600 extra per 12 months in revenue than the typical renter. This means solo residents are likely to skew towards high-income or older tenants with financial savings. Guarantee your house pricing suits inside a single renter’s funds.
Market to a solo renter demographic.
Millennials and child boomers are your audience. Phrase your property descriptions accordingly.
Spotlight options that assist independence, privateness, and low-stress residing.
Folks typically reside alone for a motive: They worth independence and peace of thoughts. Stress a responsive upkeep request protocol and clear communication.
Use surveys and suggestions to know what solo renters need.
These can embrace safe package deal supply, fashionable kitchens, in-unit laundry, and spacious closets.
Ultimate Ideas
Buyers typically overlook one or two-bedroom homes, pondering that three-bedroom houses and above will enchantment to tenants with youngsters trying to reside in good college districts. Consequently, low-bedroom-count houses are sometimes underpriced and might sit in the marketplace longer—which means they might be the supply of nice offers and money stream. Modify your shopping for standards accordingly, factoring in neighborhood security, walkability, and parking, and you possibly can discover you may have little competitors when purchasing for offers.
