With rents climbing faster than most American's paychecks, the latest trend in Gulf Shores housing is finding a roommate to split the bills, and it isn't just for kids straight out of college anymore.
The percentage of adults living with someone other than a spouse or partner hit 32% nationwide in 2012, up from 26% in 2000, according to Zillow's analysis of the latest Census Bureau data.
Judging by the ongoing decline in homeownership rates and tightened supply of rental vacancies, the trend appears to be gaining momentum.
People start pairing up when rents are climbing and incomes aren't keeping up — and in recent years, rents have really been on a tear. They rose 6.5% over the 12 months ended in September, according to Trulia. Meanwhile, wages have remained more or less flat.
Benefits of Sharing Costs With Gulf Shores Housing
Working adults in doubled up households tend to earn less, according to Zillow. So sharing their Gulf Shores housing enables them to afford and compete for more attractive housing.
Many roommates enjoy not only the savings of splitting costs 50/50, but they also enjoy the companionship that comes with sharing their Gulf Shores housing.
Renters who are willing to live together and share costs are also able to afford nicer places as opposed to footing the cost of everything themselves. The same holds true for some who decide to invest in Gulf Shores housing by purchasing a home rather than renting. But buying a home together requires careful consideration, as well as legal advice. Co-owning Gulf Shores housing can get complicated, much more so than just renting.
We have more articles concerning Gulf Shores housing in the Gulf Shores Real Estate section of articles, as well as additional home buying tips in the Gulf Shores Home Buying Tips section, both under our Gulf Shores Real Estate Categories to your right.