The Retirement Reckoning

Renters in their 50s and 60s are entering retirement with high housing costs, limited savings and little protection.

A national survey of renters aged 55–69 reveals a growing group of Australians running out of time and super in a system that assumes they will own their home.

A system that doesn’t fit

Australia’s housing and retirement systems are built on the assumption that people will have low housing costs later in life because they own their home.

For many Australians, that is no longer the case.

 

There are at least 750,000 Australians who will reach retirement age in the next decade without home ownership, leaving them exposed to ongoing housing costs and financial insecurity.

A generation under pressure

The survey of 772 renters aged 55–69 highlights the scale of the challenge.

  • One in three (34%) say their super would last less than five years if they had to rely on it while renting.
  • Six in ten (60%) are already in housing stress, spending more than 30% of their income on rent. A third spend more than 40%.
  • Almost one in five (18%) do not believe they will ever retire.
  • Only 8% expect a comfortable retirement, while 27% expect major financial stress.
  • Four in ten (42%) say they definitely could not afford to rent privately on the Age Pension.
  • Almost three quarters (73%) worry about becoming housing insecure in later life, and one in five already feel insecure in their current home.
  • More than half (52%) are cutting back on groceries and social connection, while 25% are cutting healthcare and medication.

Running out of time and super

Median super balances for people in this age group sit between $170,000 and $210,000. At current rental levels, this amount can be absorbed in less than a decade, even before accounting for rising living costs.

For many renters approaching retirement, this is not a sustainable pathway.

Work is no longer the safety net.

For those still working, employment is not guaranteed.

 

 

Nearly half (47%) do not feel confident they could find steady work if they needed a new job.

A third (32%) say they have been overlooked for work because of their age.

When asked what they would do if they could no longer afford their rental home, many pointed to moving to a cheaper area, relying on temporary accommodation or moving in with family.

More than a quarter said they did not know what they would do.

A system under strain

Lack of home ownership is one of the strongest predictors of poverty later in life. Without changes to housing supply and affordability, more Australians will enter retirement without the stability the system assumes they have.

A mandate for action

There is strong support for government action.
80% of respondents support increased government investment in social and affordable housing.

There is a solution.

ONE IN TEN

The government MUST commit to build one in ten new affordable houses.

Housing was affordable when the government built affordable homes.

Both sides of politics (aligned) built homes, and it worked for decades – 15% of new homes in the 50s and 60s and 10% in the 70s and 80s. Now they build almost none.

We need the government to build again.

Take action

Support the call for government to commit to building one in ten new homes as social or affordable housing.

Learn more about our One-in-Ten campaign and take action.

The national survey of 772 renters aged 55 to 69 was conducted between 10 March and 25 March 2026 by PureProfile.