But renting is expensive, too. As a result, more millennial renters are living with roommates to cut costs.
In an article for The Atlantic, Allie Volpe reported the facts: From 2005 to 2015, the number of Americans aged 18 to 34 with roommates increased by 23%, according to the US Census Bureau. This doesn’t count those living with a romantic partner, but does include those who live with their parents.
While cohabitation is a departure from the 20- and 30-somethings who lived with their significant other in the past, it’s nothing new — immigrants and workers sought out boarding houses during the 19th century.
More millennials are taking up residence in communal living, or “co-living,” spaces, which are cropping up in major cities. Those spaces, Volpe wrote, are a modern-day version of yesterday’s boarding house.
“Companies like Open Door, HubHaus, and WeLive, a subsidiary of co-working giant WeWork, are competing for millennials’ dollars as young people continue moving to high-priced urban areas,” wrote Melia Robinson for Business Insider.