{"id":186768,"date":"2026-02-06T12:43:23","date_gmt":"2026-02-06T19:43:23","guid":{"rendered":"https:\/\/www.biggerpockets.com\/blog\/?p=186768"},"modified":"2026-02-06T12:43:26","modified_gmt":"2026-02-06T19:43:26","slug":"solo-tenants-are-one-of-the-fastest-growing-demographics-in-the-us","status":"publish","type":"post","link":"https:\/\/www.biggerpockets.com\/blog\/solo-tenants-are-one-of-the-fastest-growing-demographics-in-the-us","title":{"rendered":"A Fast-Growing Renter Demographic is Creating Better Cash Flow Opportunities For Investors"},"content":{"rendered":"\n

Solo living is no longer a state enforced on a spouse when their other half passes away, but increasingly a lifestyle choice many Americans prefer or have found themselves in when their family lives elsewhere, and the idea of cohabitation doesn\u2019t appeal. <\/span><\/p>\n\n\n\n

For landlords, catering to this growing demographic can be a big boost to the bottom line. According to<\/span> KFF Health News<\/span><\/a>, just under 30% of Americans aged 65 and older now live alone\u2014a dramatic increase from 10% in 1950. <\/span>Lower marriage rates, higher divorce rates later in life, the decision not to have children, and the post-COVID <\/span>pandemic<\/span> desire to live in isolation are <\/span>some of<\/span> the factors driving the increase in solo living.<\/span><\/p>\n\n\n\n

According to Yardi\u2019s RentCafe data, summarized by<\/span> NAI Global<\/span><\/a>, the number of renters living solo increased by about 1 million, or 6.7%, from 2016-2021. Solo renters are especially prevalent in high-growth job markets such as Salt Lake City and several Texas metros, where in-migration is strong.<\/span><\/p>\n\n\n\n

In <\/span>Salt Lake City<\/span><\/a>, the solo-occupant population increased by nearly 25%\u2014about 50,000 people\u2014accounting for 15% of the city\u2019s renter population. Although baby boomers are still the main demographic of solo renters, making up 32.4% of them, per RentCafe data, 29.5% of millennials are flying solo. <\/span>In addition, millennials\u2019 average salary of $55,973 is more than $22,000 <\/span>more than that of<\/span> the average renter, <\/span>meaning<\/span> this generation has money to spend.<\/span> <\/span><\/p>\n\n\n\n

The Affordability Issue<\/span><\/h2>\n\n\n\n

Affordability challenges in the for-sale housing market are another reason for the increase in solo renters, as renting <\/span>is now less expensive than homeownership<\/span><\/a> when mortgage payments, taxes, insurance, and maintenance <\/span>are factored in<\/span>. <\/span><\/p>\n\n\n\n

However, that does not mean renting is a breeze for solo dwellers, especially for older renters on fixed incomes.<\/span> AInvest<\/span><\/a>\u2019s recent analysis shows that the share of solo senior households spending over 50% of their income on housing was over 16% in 2020.<\/span><\/p>\n\n\n\n

An Opportunity for Investors<\/span><\/h2>\n\n\n\n

This year, the oldest boomers will turn 80,<\/span> Senior Housing News<\/span><\/a><\/em> reports. With the boomer population increasing, comprising<\/span> 64 million people, or nearly one-fifth of the population<\/span><\/a> and rising, the housing industry isn\u2019t keeping up. In fact, the number of senior housing facilities in some markets is shrinking.<\/span><\/p>\n\n\n\n

This<\/span> presents an opportunity for landlords if handled correctly. <\/span>RentCafe\u2019s data shows that, on average, older tenants are willing to pay a premium for privacy<\/span>, <\/span>but overall face financial burdens because they cannot split costs with roommates or partners.<\/span> <\/span><\/p>\n\n\n\n

Some seniors realize the need for companionship and cost-cutting and have moved in with roommates. <\/span>A 2025 senior housing trends report from NIC MAP<\/span><\/a> says the sector will need 560,000 additional units by 2030 to meet the per-capita availability target.<\/span><\/p>\n\n\n\n

“Many of our communities don\u2019t have the housing that many aging adults can afford, with features that support them, in locations where they want to live,”<\/span> said Rodney Harrell,<\/span><\/a> PhD, AARP vice president of family, home, and community. “To meet this growing need, we must expand the nation\u2019s housing stock and work to make our communities more livable with an all-ages mindset.\u201d<\/span><\/p>\n\n\n\n

Interestingly for investors, among those interviewed in the AARP survey, 75% of adults aged 50-plus said they still wanted to live in a single-family home and weren\u2019t keen on living in a community for older people. One in four current homeowners aged 65+ has said they would consider buying or building an <\/span>ADU<\/span><\/a>.<\/span><\/p>\n\n\n\n

Cohousing communities<\/span><\/a> have been a way for seniors to maintain independence while still feeling connected to a community. In Silicon Valley\u2019s Bay Area, a three-story building comprising 19 units opened in 2015, <\/span>The Wall Street Journal<\/span><\/a><\/em> reported, and there is a 20-to 30-person waiting list to move in.<\/span><\/p>\n\n\n\n

Making Regular Rentals Senior Compliant<\/span><\/h2>\n\n\n\n

Most seniors aging in place are not looking to rent two-story houses, but rather small, single-family units with accessible floor plans, step-free entries, grab bars, good lighting, and walk-in showers, according to <\/span>The National Institute on Aging<\/span><\/a>.<\/span><\/p>\n\n\n\n

Many of those features can be added gradually to existing small rentals to make them ADA-compliant. <\/span>However, there are other steps to take if you want to take the process to the next level and convert a single-family home into a residential assisted living home, <\/span>as documented <\/span>on<\/span> this BiggerPockets Forums thread<\/span><\/a>, which<\/span> can be<\/span> highly profitable<\/span><\/a> but requires obtaining the right permits and licenses.<\/span> There are companies that can<\/span> assist in the process.<\/span><\/p>\n\n\n\n

Serving the Needs of Single-Tenant Renters: Midwest Cities Where Numbers of Solo Renters Are Soaring<\/span><\/h2>\n\n\n\n

PwC\u2019s and the Urban Land Institute\u2019s 2026 Emerging Trends In Real Estate report<\/span><\/a> shows that senior housing, followed by workforce housing\u2014both heavy single-tenant-based sectors\u2014are two of the most in-demand housing sectors this year. The cities where solo renting is soaring have both a high percentage of boomers and millennials seeking tech-based jobs.<\/span><\/p>\n\n\n\n

The Midwest, specifically Akron, Toledo, and Dayton, Ohio, has a low cost of living and a higher proportion of older residents. <\/span>Similarly, <\/span>Pittsburgh<\/span><\/a> is generally cheaper to live in and has a mix of older residents and younger tech workers centered around big tech companies such as Alphabet\u2019s Google, Microsoft, Facebook, <\/span>Nvidia,<\/span> and <\/span>others<\/span>.<\/span><\/p>\n\n\n\n

Why Solo Renters Make Good Tenants<\/span><\/h2>\n\n\n\n

Less damage<\/span><\/h3>\n\n\n\n

Fewer tenants in a rental means less wear and tear.<\/span><\/p>\n\n\n\n

High demand<\/span><\/h3>\n\n\n\n

As mentioned, between 2016 and 2021, the number of renters living alone increased by about 1 million people to 16.7 million, a 6.7% jump that made solo renters the fastest-rising renter group in the country.<\/span><\/p>\n\n\n\n

Higher-income tenants will pay a \u201csolo premium.\u201d <\/span><\/h3>\n\n\n\n

This<\/span> doesn\u2019t apply to all solo renters, of course, but <\/span>there are<\/span> many who have significant savings and assets or <\/span>are employed<\/span> in higher-paying tech jobs <\/span>who<\/span> can <\/span>pay<\/span> premium rents to live alone.<\/span><\/p>\n\n\n\n

Simpler property management<\/span><\/h3>\n\n\n\n

Fewer tenants equals fewer property management headaches.<\/span><\/p>\n\n\n\n

Longer-term rentership<\/span><\/h3>\n\n\n\n

This<\/span> is particularly true of older tenants. They’re not looking to move. They want to find a place they can settle into for the long haul, prioritizing privacy, safety, amenities, and flexible digital services over sheer size.<\/span><\/p>\n\n\n\n

How to Attract Solo Renters<\/span><\/h2>\n\n\n\n

Design smaller, efficient, and more affordable units. <\/span><\/h3>\n\n\n\n

According to <\/span>RentCaf\u00e9\u2019s 2024 review<\/span><\/a>, \u201cmost cities are still experiencing a decline in square footage. For instance, Seattle ranks first among cities with the smallest new apartments, with units completed between 2015 and 2024 averaging 649 square feet. That\u2019s a 57-square-foot decrease compared to older rentals.\u201d<\/span><\/p>\n\n\n\n

With the country mired in a housing affordability crisis, savings beat size every time.<\/span><\/p>\n\n\n\n

Emphasize safety and neighborhood feel. <\/span><\/h3>\n\n\n\n

Safety is one of the top priorities for tenants, especially older residents, along with walkability, according to RentCafe.<\/span><\/p>\n\n\n\n

Offer strong, photo-rich, easy-to-navigate digital walkthrough tours. <\/span><\/h3>\n\n\n\n

Almost 50% of 5,000 surveyed tenants from RentCafe said that clear photos and videos of specific units were helpful, while <\/span>39% interviewed by iApartments<\/span><\/a> have used self-guided tours, and 26% have said they prefer a tour without a representative around.<\/span><\/p>\n\n\n\n

Offer layouts that accommodate work-from-home jobs. <\/span><\/h3>\n\n\n\n

Solo renters are often remote workers. Ensure your rental includes alcoves and areas that can accommodate a desk, creating a work-from-home office.<\/span><\/p>\n\n\n\n

Provide storage, outdoor space, and parking.<\/span><\/h3>\n\n\n\n

These factors have also ranked highly in surveys for solo renters, especially those who spend long periods at home.<\/span><\/p>\n\n\n\n

Price rentals with \u201csolo premium\u201d pricing. <\/span><\/h3>\n\n\n\n

RentCafe reports that solo residents need about $8,600 more <\/span>per year<\/span> in income than the average renter.<\/span> This<\/span> means solo residents tend to skew toward high-income or older tenants with savings. Ensure your apartment pricing fits within a single renter\u2019s budget.<\/span><\/p>\n\n\n\n

Market to a solo renter demographic.<\/span> <\/span><\/a><\/h3>\n\n\n\n

Millennials and baby boomers<\/span><\/a> are your target audience. Phrase your property descriptions accordingly.<\/span><\/p>\n\n\n\n

Highlight features that support independence, privacy, and low-stress living. <\/span><\/h3>\n\n\n\n

People often live alone for a reason: They value independence and peace of mind. Stress a responsive maintenance request protocol and clear communication.<\/span><\/p>\n\n\n\n

Use surveys and feedback to understand what solo renters want.<\/span><\/h3>\n\n\n\n

These can include secure package delivery, modern kitchens, in-unit laundry, and spacious closets.<\/span><\/p>\n\n\n\n

Final Thoughts<\/span><\/h2>\n\n\n\n

Investors often overlook one or two-bedroom houses, thinking that three-bedroom homes and above will appeal to tenants with kids looking to live in good school districts. Consequently, low-bedroom-count homes are often underpriced and can sit on the market longer\u2014<\/span>meaning they could be the<\/span> source of great deals and <\/span>cash flow<\/span><\/a>. Modify your buying criteria accordingly, factoring in neighborhood safety, walkability, and parking, and you could find you have little competition when shopping for deals.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Solo living is no longer a state enforced on a spouse when their other half passes away, but increasingly a lifestyle choice many Americans prefer or have found themselves in […]<\/p>\n","protected":false},"author":613725,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[8],"tags":[],"class_list":["post-186768","post","type-post","status-publish","format-standard","hentry","category-real-estate-trends"],"acf":[],"comment_count":0,"_links":{"self":[{"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/posts\/186768","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/users\/613725"}],"replies":[{"embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/comments?post=186768"}],"version-history":[{"count":0,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/posts\/186768\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/media?parent=186768"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/categories?post=186768"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/tags?post=186768"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}