In 2004, the roommate-finding website SpareRoom was launched in the UK. The brainchild of Rupert Hunt, a British tech entrepreneur and self-described horrendous roommate, SpareRoom quickly grew and jumped the Atlantic to launch in New York in 2012. Since then, it has found success as a kind of match-making service for people seeking out like-minded individuals to cohabitate with.
In March of 2025, SpareRoom released a report that found that the 65-and-over crowd is the fastest-growing roommate sharing age group in the United States. According to the survey, the number of over-65s advertising rooms for rent in their own homes increased by 48% between 2023 and 2024. Those aged 55-64 were the second fastest-growing age group as well, despite the fact that those two age brackets only comprise about a fifth of all the people using SmartRoom’s services.
Why Retiree Roommates Make Sense
Rising Housing Costs
According to the U.S. Census Bureau, 18.8 million homeowners spent more than 30% of their income on housing costs in 2023, putting them into a category the U.S. Department of Housing and Urban Development (HUD) calls “cost-burdened.”
Matt Hutchinson, a spokesperson for SpareRoom, explained on their site, “The cost of living has spiraled, hitting households hard and forcing people to explore new ways to boost their income. This has led to an increase in homeowners advertising for roommates over the past year. And, for seniors who own homes but haven’t saved enough to retire comfortably, or who want the companionship and security of having someone they trust around the house, renting out a spare room is a common-sense move.”
If you have a room to spare, becoming a “live-in landlord” could give a significant boost to your monthly income. According to rental website RentCafe, the average cost to rent a room in a shared house or apartment in the U.S. generally ranges between $600 and $1,000 per month (depending on location, room size, and amenities.) As a comparison, it would take around 17 days of work at federal minimum wage to earn $1,000 per month.
Fighting the Loneliness Epidemic
Emily Allen, senior vice president for the AARP Foundation, told 55+ Life that “We are not built to be alone, we are human beings. We are social creatures and as we age, our lives change, our circumstances change.”
According to Our World in Data, we reach the peak in the diversity of our social connections around age 40, and after that there is a significant shift toward spending more time alone.
While being alone doesn’t always equate to loneliness, the overall picture shows that our social networks are diminishing. Findings from the 2024 American Social Capital Survey revealed that our social and civic life has declined by “every conceivable measure since the mid-20th century.” The survey found that today’s Americans have fewer civic opportunities— that is, places, institutions, groups, programs and activities in which they can experience community life — and we are participating in those opportunities that remain less frequently. As a result, in 2024 a depressing 17% of Americans said they have zero friends, up from 1% in 1990, according to the Survey Center on American Life.
Finding Your Own Retiree Roommate
The idea behind seniors finding themselves compatible roommates, or becoming “live-in landlords,” is that living with the right people beats living alone, any day. But you will need to protect yourself by being diligent about following state and local laws regarding rental properties and by doing some initial administrative legwork.
When interviewed by Kiplinger Personal Finance, Wil Thomas, editor at Seniors Bulletin in Toronto, Canada, said that he offers older landlord newbies a “to-do” list when actively seeking a roommate. Retirees should start by clearly defining what they’re looking for — outlining their expectations on living arrangements, schedules, habits, and financial responsibility, for example. Then, it is equally important to:
- Always perform a thorough background, credit check, and references check,
- Ask candidates about previous living situations, their lifestyle habits (smoking, guests, noise level, pets), employment status or source of income, and current references
- Ask about hobbies, routines, friend or family visits, and if they’ve lived with seniors previously
- Discuss health needs and emergency protocols to gauge a candidate’s ability to handle unexpected issues respectfully
- Rental amount, due dates, security deposits, utility payments, and share food/groceries expenses
- Privacy boundaries; clearly state expectations for visitors, overnight guests, and shared versus private spaces
- Cleaning and household chore responsibilities
- Policies on noise and quiet hours
- Protocols for conflict resolution or mediation methods
- Written terms about termination and notice periods that clearly define either party’s exit process.
