For a growing number of renters, dorm-style apartments are in high demand. These renters are sacrificing individual space while simultaneously gaining a completely amenitized building. For the millennial renter base, this is a known and acceptable form of living, and they have already done it on their own via Facebook, Craigslist and other social sites.
For the real estate investment community, co-living is a hot topic of discussion, with developers and value-add investors reassessing the way they view apartment offerings. As a multifamily broker headquartered in Chicago, my view of the trend is that it is here to stay because of the lifestyle it offers renters, as well as the price point and the upsides for multifamily investors.