Minister for Finance Michael McGrath has declared that the Government will move "heaven and earth" to ensure that older people will not face homelessness and that solutions are found for them.
He was replying in the Dáil to Labour leader Ivana Bacik who said the fact that an increasingly number of older people are finding themselves under threat of eviction was a "disgrace".
It comes after the Chief Executive of ALONE said the housing system is "not set up" for an ageing population.
Séan Moynihan was speaking after research found that some older people expect to remain in the private rental sector for life, because they feel there is no other accommodation available to them.
The study was carried out by ALONE - the national organisation that enables older people to age at home - and housing charity Threshold.
The Double Deficit: Older and Ageing Persons in the Irish Private Rental Sector report has found "considerable deficits" in the private rental sector to meet the needs of older renters.
The first deficit refers to the inappropriatness of the private rental sector for older and ageing people.
The second relates to the absence of a data-informed approach to planning for the accommodation of a rapidly growing ageing cohort.
Mr Moynihan said the "lived experience" of older people is poorer outcomes in private rented accommodation and there needs to be adequate State income for people.
"We are working with around 2,000 older people - a quarter who have housing problems. One person a day and rising is now facing homelessness. So with an ageing demographic - which is a great thing - people living longer ... and the percentage of people who haven't bought hugely on the increase."
The number of people in their 50s who are renting is four times the figure for those in their 60s.
"How long before we are going to need homeless hubs for older people?," Mr Moynihan asked on RTÉ's Today With Claire Byrne.
He said the conversation for 30 years has been about first-time buyers - "rightly so in many cases" - but there has not been enough discussion about "what happens in older age as we become more reliant on private rented" accommodation.
The insecurity of tenure, he said, is the same for younger people as it is for older people but he believes the anxiety is at a higher level for older people.
"It's much higher on the basis people might have health issues, they may have stopped working, they may be bereaved."
He said that if someone is renting for all of their life and they cannot pay the rent, they risk becoming homeless as they cannot compete in the rental market.
It is about getting a "strategy front and centre," Mr Moynihan said.
"What we need to do is match the plans to the demography, to the ageing population and really just own up that private rented (accommodation) is just not going to work for an ageing population."
He said the conversation needs to be about how "to continue to enhance security of tenure" and older people need to be considered more in social housing plans.
By 2051, it is projected that there will be in excess of 1.5 million people in Ireland aged over 65.
The report cites 2021 figures from the Central Statistics Office that show those aged 65+ who are renting from a private landlord are likely to spend more than 35% of their disposable income on rent.
It makes 12 recommendations which centre on three themes - increase quality and security of tenure for older people in the private rental sector; increase investment in age-appropriate housing with associated supports and develop a long-term strategy for housing as the population ages.
Threshold said the findings indicate that the issues facing older renters will become worse in the future.
The organisation's National Advocacy Manager, Ann-Marie O'Reilly, said that 17% of people in rented accommodation are over the age of 45 and a much larger cohort are aged between 35 and 45.
"If they are unable to buy in the next couple of years, they are going to be the older renters of the future as well.
"It is a struggle, it's a struggle everyday," she added.
Minister for Housing, Planning and Local Government, Darragh O'Brien has welcomed the research.
He said he believed it would help inform policies and target housing actions such as social and private age friendly housing.
