The high cost of rent or ownership is creating new challenges for those who are just entering the workforce or are in careers that provide intrinsic benefits but not a big pay check. As marketplaces often do, a new breed of lowcost housing is coming on line. The concept of “Dorms for Adults” is gaining traction. Instead of renting a self contained apartment, you rent a room in the apartment and the complex offers central areas.

The concept is obviously a take off of the college dorm, but it does make sense. Those that would be moving in are typically right out of school and are used to this arrangement. Also, not having many possessions they can have a part of the housing transition subsidized by not having to outfit a complete apartment.

They do it to save money, share resources and, when possible, to build equity. Along the way, many also see it as a chance to build community in the impersonal, big city.
“We live in a world, nowadays, where you’re encouraged to isolate yourself,” says Brian Gleichauf, a 30-year-old high school teacher who grew up in suburban Chicago. “You live in your own little home and you have your quarter-acre of grass to mow and everybody owns their own lawn mower and everyone has their own cars.
“It seems like an incredible waste to me.”
Among other options, he and wife Jenny, a 27-year-old pastor, are looking into Prairie Onion Cohousing, a small group of Chicagoans who are considering converting a vintage apartment building near Lake Michigan into multigenerational, environmentally friendly housing. Building on an idea that originated in Denmark, residents would buy or rent their own units, but share common areas and whatever resources and duties they agree upon.
Creating community is a driving force in their case. But for some, sharing resources — and a mortgage — is a simple matter of economics, especially as interest rates have risen since spring. via Naples Daily News