Older renters face retirement homelessness fears

Landlords are housing a rapidly growing number of people approaching retirement who could struggle to cover their rent once their wages stop.

An analysis by Sky News shows the number of privately renting households aged 55 to 64 has risen by 82% since 2008.

Continuing to rent throughout a 20-year retirement would cost the average household £461,460 more than an outright homeowner.

Moving to a one-bedroom property would still leave them paying an additional £374,690.

Retirement homelessness fears

Jenny Lamb, a policy officer at Shelter, said: “That is the ultimate worry.

“That people who can’t afford to keep pace with sky-high rents in the private rented sector will end up in a situation where they’re staring down the barrel of homelessness.”

She added: “We’re in the middle of a housing emergency.

“It’s been fuelled by subsequent government failures to build social homes and the fact that home ownership is so far out of reach for so many.”

Home ownership gap

Real average house prices increased by 137% between 1988 and 2025, according to the Centre for Ageing Better.

Over the same period, real median weekly wages rose by 44%.

The Pensions Policy Institute found that minimum pension contribution rates are insufficient to meet the additional cost of renting after retirement.

Centre for Ageing Better analysis also links renting with a higher poverty rate among people aged 50 and over.

Older renter numbers

Some 40% of renters aged 55 and over said their housing costs made them worried about becoming homeless.

The number of privately renting households aged 45 to 54, the age group following behind, has increased by 98% since 2008.

Around two million council homes have been sold through Right to Buy, while four in 10 are now privately let and more than 1.3 million people remain on social housing waiting lists.

The Older People’s Housing Taskforce said between 30,000 and 50,000 later-living homes must be built each year to meet demand.