At COHO, we asked over 6,000 tenants about their experiences of shared living. The results show a clear trend: affordability still matters, but social compatibility is now just as important. Almost half of tenants told us they would pay up to 10% more rent if it meant living with like-minded housemates.
Affordability is still the foundation
Shared living has always been about making life more affordable. Our survey found that 57.5% of tenants viewed affordability as the biggest benefit of living in an HMO.
That’s hardly surprising when Britain’s average rent has increased by 8.1% in the past year alone, now sitting at £1,338 per month.
But the social benefits are catching up fast
Affordability may come first, but it’s not the only reason people choose HMOs.
- 48.6% of tenants ranked the “sociable way of living” as a key benefit, making it the second most important.
- 43% said shared living is especially valuable for people moving to new cities who want to build social relationships.
Compatibility drives willingness to pay more
We also asked tenants if they would pay a rental premium of up to 10% to live with like-minded housemates.
- 26.5% said cheaper rents still outweighed compatibility.
- 47.2% said they would be happy to pay as much as 10% more to find the right house share.
- 65.9% said knowing what their housemates were like before moving in was important, with 39.8% giving it the highest possible importance score.
- Almost 40% said they would be more eager to move into a property if they knew their housemates were compatible.
What this means for property managers
Shared living is no longer just the cheapest option. It’s a lifestyle choice where the quality of relationships inside the home is becoming just as important as price. Property managers who focus on compatibility have an opportunity to fill rooms faster, reduce voids, and increase returns.
How COHO helps
COHO is built to make shared living better for everyone. With features that help property managers match tenants, streamline communication, and manage homes more effectively, COHO makes it easier to create the kind of HMOs tenants want, and are willing to pay more for.
At COHO, we asked over 6,000 tenants about their experiences of shared living. The results show a clear trend: affordability still matters, but social compatibility is now just as important. Almost half of tenants told us they would pay up to 10% more rent if it meant living with like-minded housemates.
Affordability is still the foundation
Shared living has always been about making life more affordable. Our survey found that 57.5% of tenants viewed affordability as the biggest benefit of living in an HMO.
That’s hardly surprising when Britain’s average rent has increased by 8.1% in the past year alone, now sitting at £1,338 per month.
But the social benefits are catching up fast
Affordability may come first, but it’s not the only reason people choose HMOs.
- 48.6% of tenants ranked the “sociable way of living” as a key benefit, making it the second most important.
- 43% said shared living is especially valuable for people moving to new cities who want to build social relationships.
Compatibility drives willingness to pay more
We also asked tenants if they would pay a rental premium of up to 10% to live with like-minded housemates.
- 26.5% said cheaper rents still outweighed compatibility.
- 47.2% said they would be happy to pay as much as 10% more to find the right house share.
- 65.9% said knowing what their housemates were like before moving in was important, with 39.8% giving it the highest possible importance score.
- Almost 40% said they would be more eager to move into a property if they knew their housemates were compatible.
What this means for property managers
Shared living is no longer just the cheapest option. It’s a lifestyle choice where the quality of relationships inside the home is becoming just as important as price. Property managers who focus on compatibility have an opportunity to fill rooms faster, reduce voids, and increase returns.
How COHO helps
COHO is built to make shared living better for everyone. With features that help property managers match tenants, streamline communication, and manage homes more effectively, COHO makes it easier to create the kind of HMOs tenants want, and are willing to pay more for.
