Co-Living: How & Why The Housing Industry Has Changed

Co-living is not a new concept. However, the generation has changed, and so have the numbers. Over 30% of adults in the USA, aged between 23 and 65, prefer to live with roommates. These numbers have doubled since the 80s’ and are expected to rise further.

It is common to live with roommates today to fix a persisting issue: affordable housing. Financial pressures and the ever-increasing rents of living spaces are the primary reasons for this transformation. The younger generation also prefers to save on accommodation and spend on lifestyle instead.

So, having roommates is convenient, profitable, and well, quite fun! However, it is crucial to understand why and how the housing industry has changed to make way for co-living.

Co-Living: The Latest Trends

For decades, living with roommates has been in vogue due to several reasons. The ages between 20 and 40 are most likely to rent a room instead of living alone. Earlier, you’d still spot people investing in properties of their own. However, the recent delay in marriages, increasing debts, and sky-high accommodation costs have increased the number of co-living enthusiasts.

Many students even prefer to live in shared bedrooms or households with college roommates. In fact, about 32% of American adults started co-living in a shared household in 2017. Moreover, students between the ages of 18 and 24 are also highly likely to live with roommates and rent a room to save costs.

It is unclear as to the start of the co-living trend. However, research points toward the 2008 recession. With unemployment rates at 10%, from landlords to tenants, everyone was desperate to save money.

The latest scenario has shown a different side to the story. Even if people are well-paid and have stable jobs, they prefer to share a house with roommates. This helps them spend more on luxury and gain new experiences while saving their earnings.

While many thoughts of it as a passing trend, co-living, and roommate finders are here to stay.

Co-Living With Compatible Roommates

The housing industry is more open to co-living than it was earlier. From landlords to tenants, everyone is listing themselves on roommate finders to find their perfect match. Roommate finders have become the latest trend in finding roommates. What’s more, these platforms are effective vetting tools for potential roommates.

Several people even prefer to enter into rental agreements with strangers who match their lifestyle and other characteristics. Moreover, co-living has shown several other perks. Roommates are investing in joint gym memberships, Netflix accounts, and more. They are even choosing bedrooms and shared bathrooms over an entire house to themselves.

These cost-efficient living practices have not only allowed youngsters to live more freely but also explore new things with their additional savings. Furthermore, roommate agreements now consist of additional clauses that include entertainment, groceries, and maintenance as part of the shared expenses.

There is more to co-living than meets the eye. With joint budgets, living with roommates has allowed people to enjoy the finer things without breaking the bank.

Why RoomMatch.com is the face of positive change in the industry

RoomMatch.com is one of the best roommate apps to find your ideal roommate match. This reputed platform offers 100% verified listings for you to select your potential roommates. Moreover, it compiles various landlord and tenant listings to match your accommodation needs.

For instance, if you’re looking for a roommate group, you can simply list your preferences and receive tons of listings that meet your specific requirements. Wondering how they match you with a roommate?

Well, RoomMatch.com has a compatibility quiz feature that comprises an array of questions about an individual. The answers to this quiz help you determine whether someone fits your personality type and has a similar budget, lifestyle, and preferences, thus avoiding future roommate conflict.

So, from the choice of pets, and Netflix shows to food preferences, you get all the tea before meeting them in person! This platform offers convenience without compromising your details or safety. Moreover, the match-up quiz helps you form the various clauses of your rental agreement to save money more efficiently.

This roommate finder has a free chat feature that allows you to speak to possible matches without giving out personal information like telephone details and email. Moreover, this website helps to find co-living households too!

RoomMatch.com provides you with authentic listings in case you want to rent a house or even sublet a room. For instance, you need a co-tenant for your apartment. You can simply publish an ad on RoomMatch.com’s roommate finder app and get plenty of results instantly!

Final Thoughts

Co-living has taken over the housing industry with a storm. However, it is quite a welcome transition that is not only allowing students and young individuals to live independently but also more consciously.

That said, we’re sure you’re looking to find the perfect roommate as soon as possible. So, when you do, we wish you the most pleasant stay!