The Hidden Crisis Facing Our 50- and 60-Something Renters
You’ve heard of retirement.
But what about rentirement?
It’s not a typo. It’s a quiet crisis happening right here in Lancaster, and it’s affecting thousands of people in their 50s and 60s.
What Is ‘Rentirement’?
A blend of rent and retirement, “rentirement” refers to people entering later life while still renting privately rather than owning their home. For many, it’s not a lifestyle choice—it’s a reflection of economic reality.
In Lancaster, 2,701 households aged 50 to mid-60s are heading towards retirement without owning the roof over their heads. They’ll face monthly rent payments for the rest of their lives, often on a reduced income.
With average local rents at £755 a month, that’s a major financial burden as their pension income kicks in.
Let’s Break Down the Numbers
The typical retiree in this bracket relies on about £1,208 per month, combining state pension and any modest private top-ups. But:
- £755 per month in rent equals £9,060 a year
- Over 20 years, that’s £181,200 per household
- Multiply that by 2,701 and Lancaster’s annual ‘rentirement’ bill comes to £24.47 million
- Over 20 years, we’re looking at a £489 million total
Whether covered by income, savings, or housing benefit, it’s a figure that’s simply not sustainable.
Why Are So Many Older Residents Still Renting?
This situation didn’t happen overnight. For some, owning a home was always just out of reach—prices rose faster than they could save. Others faced divorce, redundancy, or life events that changed their financial trajectory.
Council housing became harder to access following large-scale sell-offs in the 1980s, and waiting lists for social homes now stretch for years.
The result? Many Lancaster residents never got on the property ladder. And now, for most, it’s too late.
This isn’t just about those in their 50s. There are already 1,617 households in Lancaster aged 65 and over who are still privately renting, spending a combined £14.6 million a year on rent.
Is This Just a Lancaster Issue?
No—but Lancaster’s demographic makeup makes it more acute. We have an ageing population, high rental demand, and limited affordable housing options for older people.
In countries like Germany or the Netherlands, long-term renting is common. But there, family wealth is more often passed down, and inheritance helps older renters eventually buy. That’s far less common in the UK.
A Glimmer of Hope for the Next Generation?
Interestingly, many younger residents in Lancaster—those in their 30s and 40s—may be better placed long term. As property-owning parents pass down wealth, some of that equity may help younger generations finally buy.
But today’s ‘rentirees’ don’t have that safety net. And their numbers are growing.
What Does This Mean for Landlords?
If you’re a landlord in Lancaster, this isn’t just a social issue—it’s a strategic opportunity.
Older tenants tend to stay longer. They want stability. They’re house-proud and value respectful landlord relationships.
This group is not high risk. In fact, they’re often the most stable tenants in a portfolio.
However, it’s worth noting that their income is limited. Landlords should think long term—offering fair, sustainable rents and recognising that older tenants bring reliability and consistency.
Properties like bungalows are particularly sought after among older renters. Yet they’re rarely built because of land costs and design constraints. That makes existing bungalows increasingly valuable to hold onto.
Rentirement: Freedom or Fragility?
It’s important to acknowledge that some retirees choose to rent. They may sell a home to release capital, avoid maintenance, or move closer to family.
But they’re the exception, not the norm.
Most rentirees fell into this lifestyle, not by design, but by circumstance.
And there are challenges:
- Rent inflation
- Risk of eviction if a landlord sells
- Limited personalisation of their home
It’s a fragile foundation for later life.
What Happens Next for Lancaster?
What happens when more than 1 in 10 retirees can’t afford their housing without government support?
It’s time for Lancaster to act. We need a local housing strategy that truly considers our ageing renter population.
That means:
- Incentives for building accessible, single-storey homes
- Stronger protections for long-term renters
- Encouragement for homeownership transitions funded by inheritance
- Better support systems for older tenants
Final Thoughts
‘Rentirement’ isn’t just a buzzword. It’s the reality for hundreds in Lancaster—and thousands more across the UK.
Unless we take action now, the £489 million cost over the next 20 years won’t just be a financial burden. It will be a social crisis.
Because renting in your 20s is a phase.
Renting in your 40s might be your future.
But renting in your 70s or 80s, with no plan in place?
That’s a problem Lancaster can’t afford to ignore. If you have any thoughts about this or want to talk about renting to the older generation, please get in touch. At JDG we are here to help
Thanks for reading
Josh
