Solo dwelling 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 massive enhance to the underside line. In line with KFF Health News, just below 30% of Individuals aged 65 and older now stay alone—a dramatic improve from 10% in 1950. Decrease marriage charges, greater divorce charges later in life, the choice to not have youngsters, and the post-COVID pandemic need to stay in isolation are a few of the components driving the rise in solo dwelling.
In line with Yardi’s RentCafe knowledge, summarized by NAI Global, the variety of renters dwelling solo elevated by about 1 million, or 6.7%, from 2016-2021. Solo renters are particularly prevalent in high-growth job markets similar to Salt Lake Metropolis and several other Texas metros, the place in-migration is robust.
In Salt Lake City, the solo-occupant inhabitants elevated by practically 25%—about 50,000 individuals—accounting for 15% of the 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, 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 less expensive than homeownership when mortgage funds, taxes, insurance coverage, and upkeep are factored in.
Nevertheless, that doesn’t imply renting is a breeze for solo dwellers, particularly for older renters on fastened incomes. AInvest’s latest 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 News studies. With the boomer inhabitants growing, comprising 64 million people, or nearly one-fifth of the population and rising, the housing trade isn’t maintaining. The truth is, the variety of senior housing services in some markets is shrinking.
This presents a chance for landlords if dealt with appropriately. RentCafe’s knowledge 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 trends 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 getting old adults can afford, with options that assist them, in areas the place they need to stay,” said Rodney Harrell, PhD, AARP vice chairman of household, residence, 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 buyers, amongst these interviewed within the AARP survey, 75% of adults aged 50-plus stated they nonetheless needed to stay in a single-family residence and weren’t eager on dwelling in a neighborhood for older individuals. One in 4 present householders aged 65+ has stated they’d contemplate shopping for or constructing an ADU.
Cohousing communities have been a approach for seniors to take care of independence whereas nonetheless feeling related to a neighborhood. In Silicon Valley’s Bay Space, a three-story constructing comprising 19 items opened in 2015, The Wall Street Journal reported, and there’s a 20-to 30-person ready checklist to maneuver in.
Making Common Leases Senior Compliant
Most seniors getting old in place will not be trying to lease two-story homes, however quite small, single-family items with accessible flooring plans, step-free entries, seize bars, good lighting, and walk-in showers, in line with The National Institute on Aging.
Lots of these options could be added regularly to current small leases to make them ADA-compliant. Nevertheless, there are different steps to take if you wish to take the method to the following degree and convert a single-family residence right into a residential assisted dwelling residence, as documented on this BiggerPockets Forums thread, which could be highly profitable however requires acquiring the fitting permits and licenses. There are firms 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 Urban Land Institute’s 2026 Emerging Trends In Real Estate 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 share of boomers and millennials searching for tech-based jobs.
The Midwest, particularly Akron, Toledo, and Dayton, Ohio, has a low value of dwelling and a better proportion of older residents. Equally, Pittsburgh is usually cheaper to stay in and has a mixture of older residents and youthful tech employees centered round massive tech firms similar to 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 dwelling 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 can pay 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 stay 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’ll settle into for the lengthy haul, prioritizing privateness, security, facilities, and versatile digital companies over sheer measurement.
How one can Entice Solo Renters
Design smaller, environment friendly, and extra inexpensive items.
In line with RentCafé’s 2024 review, “most cities are nonetheless experiencing a decline in sq. footage. For example, Seattle ranks first amongst cities with the smallest new flats, with items 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 prime priorities for tenants, particularly older residents, together with walkability, in line with RentCafe.
Provide robust, photo-rich, easy-to-navigate digital walkthrough excursions.
Nearly 50% of 5,000 surveyed tenants from RentCafe stated that clear pictures and movies of particular items have been useful, whereas 39% interviewed by iApartments have used self-guided excursions, and 26% have stated they like a tour with no consultant round.
Provide 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 residence.
Value leases with “solo premium” pricing.
RentCafe studies that solo residents want about $8,600 extra per 12 months in revenue than the typical renter. This means solo residents are inclined to skew towards high-income or older tenants with financial savings. Guarantee your condominium pricing matches inside a single renter’s price range.
Market to a solo renter demographic.
Millennials and baby boomers are your target market. Phrase your property descriptions accordingly.
Spotlight options that assist independence, privateness, and low-stress dwelling.
Folks usually stay 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 embody safe bundle supply, trendy kitchens, in-unit laundry, and spacious closets.
Closing Ideas
Buyers usually overlook one or two-bedroom homes, considering that three-bedroom properties and above will attraction to tenants with youngsters trying to stay in good faculty districts. Consequently, low-bedroom-count properties are sometimes underpriced and may sit in the marketplace longer—which means they might be the supply of nice offers and cash flow. Modify your shopping for standards accordingly, factoring in neighborhood security, walkability, and parking, and you can discover you’ve little competitors when searching for offers.
