The number of U.S. renter households including roommates has seen a significant increase over the last decade, with nearly 5.6 million, or 12%, of these households now sharing living spaces. This trend represents a 21% growth compared to ten years prior, according to a recent survey from StorageCafe. This expansion of shared living arrangements is increasingly occurring in suburban and secondary urban centers, rather than traditional dense city cores.

Victor Maghear, a research analyst at StorageCafe, noted that the geography of shared living has shifted. "Now we’re seeing the fastest growth in suburbs with newer apartment stock, stronger amenities and easier access to regional job centers," Maghear stated. This contrasts with the historical concentration of roommate living in urban centers.

Several cities are highlighted for the financial benefits of shared living. Renters in Jersey City, New Jersey, can save approximately $13,000 annually by sharing a home, the highest amount among surveyed cities. In Irvine, California, one in four renters share their homes, leading to savings of $12,800 per year and providing 510 square feet of living space per person. Atlanta follows, with 17% of renter households sharing, resulting in savings of $8,900 and 535 square feet per person for a two-bedroom apartment. Raleigh, North Carolina, also sees 17% of its renter households sharing, with individuals saving $8,100 and having an average of 515 square feet of living space.

Nationwide, the average savings for sharing a two-bedroom apartment instead of living alone in a one-bedroom is approximately $6,700 per year. This financial benefit is particularly relevant as 43.5 million households currently spend more than 30% of their income on housing.

The demographic of individuals living with roommates is also broadening. Millennials now comprise over a third of all roommate households, totaling 1.9 million people. The survey, which analyzed the 100 largest U.S. cities, indicates that roommate living is evolving beyond a youthful trend to address broader affordability pressures across different age groups.