Is cohousing coming back from its communal past? While the term may evoke 1960s communes and Haight-Ashbury ideals, today’s “cosharing” movement is driven by a much more practical force — the global housing crisis. With a six-figure salary now required to buy an average home in 45 percent of U.S. metros, homeownership is slipping away from the under-40 demographic, where only 21 percent to 33 percent can afford the average home price, per the National Association of Realtors. It is estimated the United States needs 4 million to 7 million residential units to meet unmet housing demand.
Given the situation, cohousing appears to be back in the conversation.
The Cohousing Association reports more than 270 active community listings across the country, with most of these developments located along the East and West coasts, with New York, San Francisco, Los Angeles and Miami among the cities leading the movement, as well as in Austin.
Investors should take note
