What Is Coliving and Should You Try It? [2024]

Coliving is technically something that we’ve been doing since the dawn of time. However, now, we’re starting to see this real estate umbrella term pop up everywhere to define communal living spaces that are shared by five or more people.

Let’s dive in and explore all you need to know about this present-day style of communal living.

Coliving: A Complete Guide

What Is Coliving?

Coliving is a hot rental trend that involves creating some level of cost-sharing, community-driven living space with roommates. Think of it as a more mature version of dorm life, where a group of people team up to live together and share the burden of food, chores, and other necessities. It’s a nice option for those looking to save some cash and live with friends.

Whether it’s in a big, cozy house or a more structured, dorm-style apartment building, coliving comes with flexible lease agreements and usually includes utilities, cleaning, and furnished hangout spots. At the same time, you'll also be asked to contribute to your community in some way. Coliving is more than just a savvy housing choice; coliving is about that communal energy, where a group comes together to share more than just a roof.

Why Has Coliving Become More Popular?

Coliving has become a popular housing choice around the world, especially among young professionals and students, and it's not hard to see why. It's mainly about affordability - in big cities, renting a place solo can really stretch your budget. To put the cost-savings of coliving into perspective, here are a few key points about renting today:

• While rent prices have trended down somewhat in the past year, median rent hovers at around $1,379, while median income sits at $31,133.
• Coliving is typically up to 50% cheaper than standard rentals.
• Many recent studies show an increase in loneliness, including one study in which 60% of participants reported experiencing loneliness on a regular basis.
• A shift in lifestyle preferences has also been playing a role. A lot of younger renters these days value experiences and community over having lots of space or stuff. Coliving fits right into this mindset, offering a chance to live with like-minded peers in a more social, community-focused environment.

Interested in a deeper dive on the motivations behind coliving? Check out this great TED talk from Grace Kim on how cohousing can make us happier:

Different Types of Coliving Spaces

Coliving is not a one-size-fits-all living style. There are several styles of coliving, from luxury developments to unintentional coliving communities that spring from large residential housing. Here are a few ways you can get your coliving on:

• Co-ops: Members of co-op or cooperative housing work as somewhat of a democracy, taking shifts cleaning, cooking, and taking care of chores around the house. Many elect house leaders, and some co-ops can be as large as 100 residents.
• Adult Dorms: This style of coliving is very similar to what you might expect to find in a hotel or college dorm. There are often several bedrooms along communal hallways with shared common areas.
• Communes: A commune is an intentional coliving community often located in a rural area. People in communes typically share spiritual beliefs and live a self-sufficient lifestyle.
• Co-housing: This common living style gained popularity in the ‘60s. Families would build single-family homes surrounding a ‘common home’ and split their responsibilities for the surrounding area, including putting on community events or taking care of shared green space.
• Informal Housing: Many people who are coliving might not even refer to it as such! Informal styles of coliving often include groups of people who met through personal networks or classified sites and decided to bunk together in coliving homes.

We recommend looking at popular coliving companies for high-end coliving apartments as a jumping-off point.

How Does Rent Work in Coliving Spaces Work?

Many roommate conflicts stem from rent payment disagreements, though with coliving companies, you can avoid these headaches.

This is because coliving companies offer individual lease agreements. So, although you share the space with other residents, you’re only responsible for your portion of the rent payment.

Your property manager will collect your rent via a digital payment platform, so you don't have to chase down your roommates to get paid.

What's Included in the Rent?

Many necessities, like toilet paper or cleaning supplies, are included in your rent payment and routinely restocked.

In addition to basic household necessities, all amenities are generally included in the rent payment. A typical rent payment for a bedroom within a coliving apartment unit covers the following:

• Wi-Fi
• All Utilities (water, gas, and electric)
• Cleaning Services
• Maintenance Fees
• Room and Board
• Household Essentials

What Are the Benefits of Coliving?

As with anything in life, coliving has its pros and cons. Let’s start by looking at some of the significant advantages you can expect from a coliving situation!

1. More Bang for Your Buck

Living in a big city like New York, Los Angeles, or San Francisco can be expensive, and you'd be hard-pressed to beat the affordability that coliving offers.

With large and often newly renovated apartment units, coliving makes for the perfect affordable housing solution. As a bonus, legitimate coliving companies provide fully furnished apartment units with all-inclusive single rent payments.

2. Fewer Headaches with Roommates

We’ve all been there - roommate drama over bills or who left the dishes in the sink. Coliving smooths out these bumps:

• Your Money, Your Responsibility: You just pay your bit of the rent. If your roommate’s late on theirs, it’s not on you. Phew!
• No Cleaning Squabbles: Most coliving places have cleaning sorted out for you. So, you can kiss goodbye to arguments about whose turn it is to vacuum.

3. Living with People Who Get You

It's more fun to live with folks who share your vibe. Whether you're into music, art, or tech, coliving spots often group similar people together. It’s not a surefire way to find your new BFF, but it sure does up your chances of meeting cool, like-minded people.

4. Networking Without Trying Too Hard

Many coliving setups attract certain crowds - artists, techies, you name it. This means you could be sharing a coffee with someone who can give your career a nudge, or at least have some interesting chats.

5. Added Flexibility

Flexibility is king in coliving. Short-term lease? No problem. Plus, you move in and everything’s ready to go. It’s a breeze for those who love a hassle-free lifestyle or aren't ready to settle down just yet.

What Are the Disadvantages of Coliving?

On the flip side, there are a few significant drawbacks to this living arrangement to consider, including:

1. Limited to Major Cities

If you like the idea of living with a diverse group of young, like-minded professionals in a coliving setup, you must be prepared to move to a major US city (unless you go the commune route). Since communal living apartments are a relatively new trend, they haven’t really spread outside of cities.

If you don't mind the city life but want a bit less urban feel, limit your search to places with outdoor spaces or that are near parks.

2. No Control Over Roommate Selection

Coliving spaces are typically designed to match residents with similar interests. However, there’s little control over the roommate selection process for current tenants.

While you certainly don't want to spend hours poring over potential roommate candidates, you might also not want a complete stranger moving in.

3. Shared Communal Spaces

One of the biggest incentives of coliving is the idea that you’ll eventually make friends with similar lifestyles. While that's a great concept, it doesn't really account for the trouble of sharing communal spaces.

Some nights, you may just want to plop down on the living room sofa and binge Netflix. This might not be possible if one of your roommates wants to watch a football game or another is planning on having a few friends over.

Though you can retreat to your bedroom, sometimes sharing communal areas can be more of a hassle than a benefit.

Is Coliving Right for Me?

If you're considering coliving over traditional apartment living, ask yourself the following questions:

• Do you want to live in a major US city?
• What luxuries or amenities do you need? Which ones can you live without?
• What’s the highest monthly rent payment you can afford? (Check out our rent calculator!)
• Are you comfortable sharing communal spaces?

Ultimately, coliving can be beneficial. However, traditional apartment living might be a better fit if you want to live alone or have a space that feels more yours.

With an apartment rental, you can choose if you want a roommate and put in the work to find the perfect candidate. Additionally, you have control over the entire apartment, not just your bedroom.

Don't rush into a living situation! Consider all the advantages and disadvantages of both coliving and traditional renting to see what works best!

Thinking About Renting a Coliving Space?

Start by taking our Apartment List’s personalized quiz and find the perfect living space for you and your roommates! Our platform hosts many shared homes and private rooms so you can find the perfect match for your next living situation.

Coliving FAQs

What is the difference between roommates and coliving?

Roommates:

• Individually found: You typically find your own roommates and negotiate lease terms directly.
• More control: You have more control over the living situation, choosing who you live with and setting house rules.
• Shared responsibilities: You divide chores and expenses among yourselves.
• Social connection: May or may not lead to close friendships depending on personalities and interests.
• Varying amenities: You may need to arrange and pay for amenities like furniture, internet, and cleaning services.

Coliving:

• Managed by a company: You rent from a co-living provider who handles lease agreements, furnishing, and amenities.
• Community focus: Designed to foster social interaction and a sense of community through events and shared spaces.
• Flexible options: Often offers short-term leases and room-hopping options for added flexibility.
• All-inclusive pricing: Rent typically includes furniture, utilities, internet, and sometimes cleaning services.
• Less control: Less control over who you live with and house rules.

Is coliving a good idea?

Coliving can be cheaper than solo living, especially in expensive cities. Another benefit is that co-housing residents report more hassle-free move-ins, enjoy shared chores, and often have all-inclusive amenities. Coliving also offers built-in social connections and networking opportunities. Short-term leases and room-hopping options offer freedom.

On the other hand, you'll share more space with more people than just roommates. You have less control over house rules and who you live with. Living with more people can increase the risk of disagreements. Finally, co-living spaces may not be available in all cities or offer your preferred living options.

What is the average age for coliving?

The average age for co-living varies depending on the provider and location. However, research suggests it generally falls between 22 and 35 years old. This age group often includes young professionals, recent graduates, and digital nomads seeking flexible, urban living experiences. However, co-living spaces are increasingly attracting more diverse age groups, including families and older adults seeking community and affordability.