House Sharing on the Rise for Older Adults

In 2023, a record-high of 6.8 million households shared their housing with unrelated housemates, roommates or boarders, according to the National Association of Home Builders. And while house sharing is most common among young adults (a nearly 41% subset of all house sharers), the trend is gaining popularity among older adults as well. 

As of the most recent data (2023), the age groups with the highest share of house-sharing households were: 

1. Young adults (25-34): 23% or 1.6 million households 
2. College-age adults (18-24): 17% or 1.2 million households 
3. Older adults (55-64): 14% or about 1 million households 

Notably, the share of older adults (55-64) sharing housing has nearly doubled since 2005, going from a 9% share to a 14% share. 

“At the same time, the number of house-sharers among 65+ households increased 2.7 times,” NAHB adds. “These oldest householders now account for over a million, or 15%, of all house-sharing households, more than doubling their share of 6.8% in 2005.” 

“Roommates and house sharing can be a way to offset high housing costs and rest housing affordability concerns by sharing expenses,” added National Association of Realtors® Deputy Chief Economist and Vice President of Research Dr. Jessica Lautz. “Additionally, for older adults, roommates might not only help with companionship but help team up to tackle housing upkeep and repairs.”