Solo residing is now not a state enforced on a partner when their different half passes away, however more and more a way of life alternative many Individuals choose or have discovered themselves in when their household lives elsewhere, and the thought of cohabitation doesn’t attraction.
For landlords, catering to this rising demographic generally is a huge increase to the underside line. In keeping with KFF Well being Information, slightly below 30% of Individuals aged 65 and older now reside alone—a dramatic improve 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 elements driving the rise in solo residing.
In keeping with Yardi’s RentCafe knowledge, summarized by NAI International, 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 reminiscent of Salt Lake Metropolis and a number of other Texas metros, the place in-migration is robust.
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 principle demographic of solo renters, making up 32.4% of them, per RentCafe knowledge, 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, that means this technology has cash to spend.
The Affordability Subject
Affordability challenges within the for-sale housing market are one more reason for the rise in solo renters, as renting is now inexpensive 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 mounted incomes. AInvest’s latest evaluation exhibits that the share of solo senior households spending over 50% of their earnings on housing was over 16% in 2020.
An Alternative for Buyers
This yr, the oldest boomers will flip 80, Senior Housing Information reviews. With the boomer inhabitants rising, comprising 64 million individuals, or almost one-fifth of the inhabitants and rising, the housing business isn’t maintaining. The truth is, the variety of senior housing services in some markets is shrinking.
This presents a possibility for landlords if dealt with appropriately. RentCafe’s knowledge exhibits that, on common, older tenants are keen to pay a premium for privateness, however total 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 tendencies report from NIC MAP says the sector will want 560,000 further items by 2030 to satisfy the per-capita availability goal.
“Lots of our communities don’t have the housing that many ageing adults can afford, with options that help them, in places the place they wish to reside,” mentioned Rodney Harrell, PhD, AARP vice chairman of household, dwelling, and neighborhood. “To satisfy this rising want, we should increase 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 dwelling and weren’t eager on residing in a neighborhood for older individuals. One in 4 present householders aged 65+ has mentioned they might contemplate shopping for or constructing an ADU.
Cohousing communities have been a manner for seniors to keep up independence whereas nonetheless feeling linked to a neighborhood. In Silicon Valley’s Bay Space, a three-story constructing comprising 19 items 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 ageing in place aren’t seeking to hire two-story homes, however fairly small, single-family items with accessible flooring plans, step-free entries, seize bars, good lighting, and walk-in showers, based on The Nationwide Institute on Growing old.
Lots of these options might be added progressively 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 dwelling right into a residential assisted residing dwelling, as documented on this BiggerPockets Boards thread, which might be extremely worthwhile however requires acquiring the proper 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 Tendencies In Actual Property report exhibits that senior housing, adopted by workforce housing—each heavy single-tenant-based sectors—are two of probably the most in-demand housing sectors this yr. The cities the place solo renting is hovering have each a excessive proportion of boomers and millennials searching for tech-based jobs.
The Midwest, particularly Akron, Toledo, and Dayton, Ohio, has a low value of residing and the next proportion of older residents. Equally, Pittsburgh is usually cheaper to reside in and has a mixture of older residents and youthful tech employees centered round huge tech corporations reminiscent of Alphabet’s Google, Microsoft, Fb, Nvidia, and others.
Why Solo Renters Make Good Tenants
Much less injury
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.
Greater-income tenants pays a “solo premium.”
This doesn’t apply to all solo renters, after all, however there are many who’ve important financial savings and property 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 seeking to transfer. They wish to discover a place they will settle into for the lengthy haul, prioritizing privateness, security, facilities, and versatile digital providers over sheer dimension.
Learn how to Appeal to Solo Renters
Design smaller, environment friendly, and extra inexpensive items.
In keeping with RentCafé’s 2024 evaluate, “most cities are nonetheless experiencing a decline in sq. footage. As an example, Seattle ranks first amongst cities with the smallest new flats, with items accomplished between 2015 and 2024 averaging 649 sq. ft. That’s a 57-square-foot lower in comparison with older leases.”
With the nation mired in a housing affordability disaster, financial savings beat dimension each time.
Emphasize security and neighborhood really feel.
Security is likely one of the high priorities for tenants, particularly older residents, together with walkability, based on RentCafe.
Supply robust, photo-rich, easy-to-navigate digital walkthrough excursions.
Virtually 50% of 5,000 surveyed tenants from RentCafe mentioned that clear images and movies of particular items have been useful, whereas 39% interviewed by iApartments have used self-guided excursions, and 26% have mentioned they like a tour with no consultant round.
Supply layouts that accommodate work-from-home jobs.
Solo renters are sometimes distant employees. Guarantee your rental consists of alcoves and areas that may accommodate a desk, making a work-from-home workplace.
Present storage, outside house, and parking.
These elements have additionally ranked extremely in surveys for solo renters, particularly those that spend lengthy durations at dwelling.
Worth leases with “solo premium” pricing.
RentCafe reviews that solo residents want about $8,600 extra per yr in earnings than the typical renter. This means solo residents are likely to skew towards high-income or older tenants with financial savings. Guarantee your condominium pricing suits inside a single renter’s price range.
Market to a solo renter demographic.
Millennials and child boomers are your audience. Phrase your property descriptions accordingly.
Spotlight options that help independence, privateness, and low-stress residing.
Folks typically reside alone for a cause: They worth independence and peace of thoughts. Stress a responsive upkeep request protocol and clear communication.
Use surveys and suggestions to grasp what solo renters need.
These can embody safe package deal supply, trendy kitchens, in-unit laundry, and spacious closets.
Ultimate Ideas
Buyers typically overlook one or two-bedroom homes, pondering that three-bedroom properties and above will attraction to tenants with youngsters seeking to reside in good college districts. Consequently, low-bedroom-count properties are sometimes underpriced and may sit in the marketplace longer—that means they could possibly be the supply of nice offers and money circulation. Modify your shopping for standards accordingly, factoring in neighborhood security, walkability, and parking, and you might discover you’ve got little competitors when looking for offers.
