Recent data from the English Housing Survey highlights a growing trend of individuals reaching midlife and retirement while still renting their homes. This shift is accompanied by a widening financial disparity between tenants and homeowners, a development that has important implications for UK landlords and letting agents.

Growing Numbers Renting into Midlife and Retirement

The latest figures from the Department for Levelling Up, Housing and Communities for 2024/25 reveal that 19% of adults are private renters, with a notable increase in those aged 45-54 renting privately. This age group now comprises 18% of private renting households, up from 15% the previous year. Meanwhile, 29% of adults have a mortgage and 36% own their homes outright.

London continues to experience more acute rental pressures, with private renting rising to 28% of households in the capital, compared to the national average of 19%. This reflects the ongoing challenges faced by London residents in securing affordable housing.

Financial Strain on Older Renters

Sarah Coles, head of personal finance at Hargreaves Lansdown, emphasises that renting later in life is becoming increasingly common, including many who remain in rental accommodation after raising children and into retirement. She notes the significant financial burden this places on tenants, who often allocate a large portion of their income to rent.

Renters tend to move more frequently, which can disrupt stability and increase costs, especially when rising rents force moves to smaller properties or locations further from employment. This cycle can stretch tenants’ budgets thin, making it difficult to save for future needs such as pensions or home deposits. Only 52% of renters reported having any savings, highlighting the challenges of financial resilience among this group.

Rental Costs Compared to Mortgage Payments

The survey reports that private tenants face average weekly rents of £250 nationally, with a stark regional divide: £393 per week in London versus £207 outside the capital. By comparison, typical mortgage payments average £242 per week across England, rising to £375 in London and falling to £220 elsewhere.

Housing costs consume a significantly higher proportion of income for renters than for homeowners with mortgages. Those with mortgages spend about 19% of their earnings on housing, whereas private renters, excluding housing support, allocate 39% of their income to rent. This disparity underlines the financial pressures on tenants and the importance of affordable rental options.

Implications for Landlords and Letting Agents

For landlords and letting agents, these trends suggest a growing demand for rental properties among older age groups, including those approaching or in retirement. Understanding the financial constraints faced by these tenants is crucial for setting realistic rent levels and maintaining tenancies.

Landlords should be mindful that tenants in midlife and retirement may have limited capacity to absorb rent increases, given their stretched budgets and lower savings rates. Offering stable, well-maintained properties and considering longer-term tenancies could help reduce tenant turnover and support financial security for renters.

Additionally, the regional disparities in rental costs, particularly the high rents in London, highlight the need for landlords to be aware of local market conditions and affordability challenges.

Looking Ahead: Support for Landlords and Tenants

The Landlord Association (TLA) is preparing to launch a new Trusted Partners Hub in Q1 2026. This platform will feature verified and approved service providers selected to support landlords, tenants, and property management businesses. Legal, trades, insurance, financial, mortgage, tenant screening, and other service providers are invited to register their interest to join the hub.

This initiative aims to strengthen the rental sector by connecting landlords with trusted partners who can assist in managing properties effectively and supporting tenant needs.