The rise of the roommate

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The rise of the roommate: "I’m probably saving $300 per month"
What do you do if you can no longer afford — or don’t want to pay — high rent prices? You get creative

By Zina Kumok
Published January 2, 2025 5:30AM (EST)


(Salon) Even as inflation has cooled, ripple effects continue to cast a long shadow. Housing prices are approximately 47% higher in 2024 compared to 2020.

And those cost increases are not just for buyers. Renters have also seen a huge jump, about a 33% spike since the pandemic, with 49 out of 50 major metro areas seeing an uptick in rental costs.

So what do you do if you can no longer afford — or don’t want to pay — high rent? You get creative. And for many, that means getting a roommate — even for homeowners or others used to living alone.

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Most of us have roommates while we’re in college and often keep them for the first few years after graduating. However, at some point, living on your own becomes a milestone, just like getting married or having kids.

But that’s becoming harder and harder. Research from SpareRoom has found a 167% increase in homeowners looking for roommates between January 2021 and January 2024. Also, about 8.7% of single young adults (between ages 18 and 29) had roommates — compared to 7.4% in 1990. .................(more)

https://www.salon.com/2025/01/02/the-rise-of-the/