Latest Trend in Boston Area Housing: Roommates

With rents climbing faster than most American’s paychecks, the latest trend in Boston area housing is finding a roommate to split the bills, and it isn’t just for kids straight out of college anymore.

A growing Boston area housing trend to cut living expenses is finding a roommate.

The percentage of adults living with someone other than a spouse or partner hit 32% nationwide in 2012, up from 26% in 2000, according to Zillow’s analysis of the latest Census Bureau data.

Judging by the ongoing decline in homeownership rates and tightened supply of rental vacancies, the trend appears to be gaining momentum.

People start pairing up when rents are climbing and incomes aren’t keeping up — and in recent years, rents have really been on a tear. They rose 6.5% over the 12 months ended in September, according to Trulia. Meanwhile, wages have remained more or less flat.

Benefits of Sharing Costs With Boston Area Housing

Working adults in doubled up households tend to earn less, according to Zillow. So sharing their Boston area housing enables them to afford and compete for more attractive housing.

Many roommates enjoy not only the savings of splitting costs 50/50, but they also enjoy the companionship that comes with sharing their Boston area housing.

Renters who are willing to live together and share costs are also able to afford nicer places as opposed to footing the cost of everything themselves. The same holds true for some who decide to invest in Boston area housing by purchasing a home rather than renting. But buying a home together requires careful consideration, as well as legal advice. Co-owning Boston area housing can get complicated, much more so than just renting.

We have more articles concerning Boston area housing in the Boston Real Estate section of articles, as well as additional home buying tips in the Boston Home Buying Tips section, both under our Boston Real Estate Categories to your right.

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