Over-40s redefine HMO market

A new trend is reshaping the HMO landscape as 11.5% of housemates are now aged 40 or older, according to research.

The findings from COHO, a HMO management platform, show that far from being just for students or young professionals, shared accommodation is attracting a more diverse group.

It has also found that Southampton has emerged as the nation’s hotspot for over-40s co-living.

Co-living has changed

The firm’s co-founder, Vann Vogstad, said: “Modern co-living is a world apart from what it used to be.

“For decades, HMOs have been associated with young people who are looking for an affordable home while they find their way in the world, or those who simply can’t let go of the hedonistic days of university.”

He added: “Today, this simply isn’t true. Co-living has evolved into a lifestyle choice rather than an economic necessity, and we’re seeing more and more people in their 30s, 40s and even 50s actively choosing to live with housemates.”

Southampton is tops

COHO’s survey of 4,500 individuals living in shared properties found that 11.5% are over 40, with 55.7% identifying as male and 44.1% as female.

Southampton leads the way, hosting 20.2% of these mature housemates, followed closely by London at 19.8%.

Other cities like Leeds (4.9%), Manchester (4.5%), Portsmouth (4.1%) and Coventry (3.5%).

Birmingham (3.1%), Plymouth (3.1%), Reading (2.9%) and Oxford (2.7%) also feature prominently.