Millennial Strategies: As prices increase, and inventory reduces, many millennials have joined the growing trend of Co-Ownership.

The Millennial generation, born between 1981 to 1996, has among the lowest homeownership rates since the 1920s. The reasons vary, but the greatest factor has been affordability. The Millennial generation has the highest student loan debt in US history. If you combine that with the high prices and interest rates, it has created the least affordable housing market since 1984.

Facing these realities, many Millennials are joining the growing trend of “Co-Ownership”, sharing resources through purchasing a home with family, friends, or other non-romantic partners. The solution is lowering entry barriers to home ownership.

Millennials are known for seeking alternative strategies to achieve their goals.  Co-owning is simply another strategy to break into today’s housing market. It allows Millennials to buy now, securing an affordable place to live in the present, while setting up a solid investment for the future.

report by JW Surety Bonds shows that nearly 15% of Americans have co-purchased a home with someone other than their romantic partner, and another 48% would consider it.

In October 2023, mortgage rates peaked at a two-decade high. With rates dropping under 7%, prices are again moving up quickly. Co-ownership allows buyers to share the financial strain of owning a home, making it more affordable for those who can’t afford to buy one independently.

Baby Boomers came out on top of the 2023 housing market. They were sitting in homes that were either paid off or had locked in on the sub 3% mortgage rates during or before COVID. That left the millennials and Gen Zers battling over the starter homes left on the market.

That is why co-ownership has become attractive for many in these two generations. They are pooling their resources, creating pseudo-households to increase their purchasing power and share the equity upside. As a result, they achieve homeownership at a younger age without as much overhead investment.

While co-ownership has undeniable appeal in cost savings, there are potential pitfalls. When buying a home with anyone, you need to consult with attorneys and tax professionals. You need clear plans for when a participant decides to move out early, due to relocation, marriage, or a personal falling out. Transferring ownership of a home with a mortgage can be problematic if you are not prepared. You must all be clear on financial expectations, conduct credit checks, and have a clear exit strategy that addresses the mortgage.


As millennials continue to seek new and innovative paths to achieve their goals, co-ownership emerges as a powerful strategy in the realm of homeownership. This collaborative approach not only addresses immediate challenges but sets the stage for a future where shared investments redefine the dynamics of real estate. As the next generation pioneer’s new avenues, co-ownership stands out as a beacon of affordability and financial ingenuity in the pursuit of homeownership dreams.

– Kyle Alfriend has been selling homes for over 35 years, successfully assisting over 3,000 clients buying, selling, or investing in real estate.

For more tips on selling your home in the winter, or for a personal consultation, contact Kyle Alfriend, at (614) 395-1776, or info@Alfriend