Friends Are Going Splitsies On Homeownership

The high cost of buying a home has helped some reimagine the concept of friends with benefits. Instead of cramming into an overpriced studio rental to save money, buddies are splitting the cost of owning a property they couldn’t afford individually.

Zillow reported that US home values skyrocketed 45% between February 2020 and February 2025, which it called “more than a decade’s worth of typical growth” in only five years. And the rental market saw a similarly large increase over that time, per Rental Housing Journal, making co-buying a consideration for younger generations.

Per a 2025 FirstHome IQ survey of 1,000 respondents between the ages of 18 and 44:

• Sharing a home with your bestie is particularly appealing to Gen Zers (classified here as ages 18 to 24), as 32% said they would consider co-buying.
• Millennials (ages 25 to 44) aren’t against the idea either—18% said they were up for it.

A 2024 report by JW Surety Bonds found that 15% of Americans have made home purchases with a friend or relative, and another 48% would consider doing so.

Home security: Since this isn’t the same as roommates splitting the cost of a couch, it’s recommended to put the partnership in writing. Two options are a joint tenancy agreement or a tenancy-in-common agreement. These arrangements allow partial ownership of the property (and theoretically, the couch, too) to be sold or inherited if circumstances change.

End of an era? Zillow home trends expert Amanda Pendleton told CNBC that one reason why only 5% of homes were co-bought last year is that rent prices are stabilizing. According to the new Apartment List National Rent Report, the national median rent has fallen for six straight months, not that anyone looking for a place in New York or San Francisco will believe that.—DL