Coliving is a contemporary housing model that provides affordable living options and fosters a sense of community, appealing to young professionals, digital nomads, students, and others seeking an alternative to traditional apartment living. It has gained popularity in major cities where rents are rising, offering tenants private living quarters alongside access to premium amenities, flexibility, a built-in community, and, most crucially, affordability. This is achieved by leasing on a per-bed basis or “rent-by-the-room”— for instance, in a 4-bedroom, 4-bathroom unit, each resident leases their own bed and bathroom while sharing the communal areas with three other tenants.
From a developer’s perspective, coliving differs from traditional multifamily housing by prioritizing higher bed density over larger individual living spaces. More emphasis is placed on shared communal areas, enabling developers to optimize rental income while reducing construction costs compared to standard multifamily projects.
Whether you’re a growing company exploring investment opportunities in the coliving sector or an experienced multifamily developer considering new product types, mastering the design and construction intricacies of coliving is crucial. Choosing the right partners to guide you through the process—from site selection to building occupancy—is key to reducing risk and avoiding potential pitfalls. But where should you start? As a Padsplit preferred builder, Vertex Homes has the experience and expertise to bring your next coliving project to life.