Thank you for sharing!

Your article was successfully shared with the contacts you provided.

Co-living assets—like all of housing—have been hit hard during the pandemic. Before March, co-living properties were rising in popularity, offering a 30% discount on gross housing costs on a per-lease basis, while operators generated 15% higher NOI than the industry average due to the increased density. According to a new report on the asset class from Cushman & Wakefield, co-living will only see increased demand post-pandemic, as renters look for more affordable housing options.

First, however, the asset class has to survive the pandemic. Like the general apartment market, co-living properties have seen a decline in rents and vacancy as well as rent collections. The Cushman & Wakefield report shows that co-living properties’ savings dropped from 30% to 23.2% as a result, with average co-living rents from March to August falling 9.4%. While significant, the decline is still less than comparable studio apartments, which have seen an 11.7% decrease in rents. Overall, the impact on co-living has been less severe for co-living properties than for multifamily.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.

More from this author


GlobeSt. Multifamily Fall 2022Event

Join the industry's top owners, investors, developers, brokers & financiers at THE MULTIFAMILY EVENT OF THE YEAR!

Get More Information


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2022 ALM Global, LLC. All Rights Reserved.