As there is a lack of housing in metro areas rent is getting out of control. The price to rent bunk beds reach as high as $1,000. College graduates are living out of duffle bags as they struggle to find jobs in big cities.
There are apartments and hostels such as PodShare where people are paying as much as $1,000 a month to rent a bunk bed in a large room with other people. This is about half of the monthly rent of a one-bedroom apartment. Included with the bed are utilities, toiletries, coffee, and some basic food items including peanut butter and ramen noodles.
There is staff on-site that will clean up after the renters and will even help them cook meals. People all over the world come to live in these new age apartments. They share a bathroom, a common room, and a kitchen.
When it comes to privacy there is none. Sex is not allowed in the beds. People have met and fallen in love with these rooms. A couple recently got married after meeting in a PodShare apartment. The event went back for wedding day pictures.
While renting a bunk is not for everyone some people are liking it. If a person earns $40,000 a year they are paying and earning below-average pay this can be a way to save some money.
PodShare rents over 220 beds in five cities including LA and San Francisco as people are looking for ways to find affordable housing.
As there is a lack of housing in cities these beds are good for people that want to live in an urban center but may not be able to afford rent. Young professionals are finding rooms since they have small paychecks and high student loan debt. They cannot afford to purchase a home or pay high rent costs.
Many of the companies that own these bed renting facilities are looking to help people feel like they are part of a community. A person is not living alone so they will not have to worry about feeling lonely. Around 30 percent of millennials are lonely which is the highest out of any generation.
People that do live in these PodShare arrangements tend to form bonds with others. While they may move on to the next step which is often a studio apartment there are some benefits to living in a bunk. It will help a person save money and will help them make friends in a big city.
Other co-living centers may rent out rooms for up to $2,000 a month. While this may sound expensive they are still below the average rent price of a studio apartment.
These co-living arrangements are helping to allow people to find a house with the housing market crisis. More people are working and living in cities than there is room and developers are looking for a way to increase their profit. With the lower prices are shared space it seems that these room-sharing companies are only going to increase.