Sharing an apartment keeps rent prices manageable and offers social companionship
Baby Boomers who want to live in a popular, and expensive, housing market are taking a cue from today’s young adults.
CNBC reports that many Boomers are managing high rents by taking in a roommate or two, especially in pricey cities such as Los Angeles, San Francisco, and Seattle.
According to Matt Hutchinson, the director of a roommate match service called SpareRoom, in many cases Boomers can afford to live alone, but decide to live with friends for social reasons.
Renting is becoming more popular for the older generations.
A 2015 study by the Joint Center for Housing Studies at Harvard University found that families or married couples ages 45-64 accounted for roughly twice the share of renter growth as households under the age of 35.