The Co-Living Craze

Multiethnic Group of People Social Networking at Cafe

The conundrums of being a millennial: You want your own space, but don’t want to be alone… you like luxury items, but can’t afford the prices…you enjoy networking, but don’t want to get tangled up in the “net.” Well, it seems that some venture capitalists finally get your polarizing preferences. There is a growing housing trend in larger cities called co-living that allows millennials to have their cake and eat it, too.

More 25- to 34-year-olds live with roommates than in previous generations. Rental prices have climbed and wages have remained stagnant. Inspired by office-sharing companies like WeWork, investors are now converting office buildings into “adult dorms.” Don’t envision piles of unwashed laundry, packages of Ramen noodles, and frequent episodes of undergrad bacchanalia. These are actually “micro-units” or “micro-apartments” built around shared living spaces used for cooking, eating and most importantly, hanging out.

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