Friends are teaming up to afford the American Dream

The Beatles famously sang about getting by with a little help from their friends. It turns out that the idea is popular in the housing market these days, too.

For most home buyers, the question is one of simple math. In a sizzling market where some individuals and couples are priced out of homeownership, many have considered co-buying real estate with a friend or friends.

On paper, the idea makes great financial sense – you split the buy-in, split the liability, and split the cost of a monthly mortgage payment. In practice, potential co-buyers likely see jointly owned homes as a mashup between a dormitory and a condo, a golden opportunity to live with pals while maintaining a sense of independence and getting a home to call their own.

To understand how the journey to homeownership might be changing, Rocket Mortgage recently surveyed 1,966 renters age 18 and older to find out whether they would be willing to co-buy a home with friends – along with their biggest reasons and concerns around doing so.

Key takeaways:

• Nearly 60% of renters say they are open to co-buying a home with friends, with 64% of those respondents citing affordability as the primary driver.
• This strategy isn’t being driven by Gen Z: 66% of the people interested in co-buying are Gen Xers and millennials, suggesting that older renters are more likely to team up with friends to break into the housing market.
• For 29% of renters who would consider buying with friends, the single greatest concern is how future life changes – like marriage, children, and relocation – could complicate things.

Today, interest in co-buying is driven by older renters

Co-buying is a pathway to homeownership that renters are exploring: Nearly 60% of survey respondents say they would consider buying a house with a friend.

Given the lack of traditionalism in younger generations, one might think that sharing homeownership with friends is a Gen Z trend. After all, Gen Z is more likely to be in an uncomplicated life stage (i.e., no spouse or kids) and less likely to be able to afford a home on their own. However, the recent Rocket Mortgage data shows something completely different: Interest in co-buying is actually being driven by older renters.

Among survey respondents who say they’re willing to buy a home with friends, the biggest share of interest in co-buying comes from millennials and Gen Xers – a total of 66%. This compares to 19% from Gen Z and 15% from baby boomers.

With the median age of first-time home buyers hitting 40 last year, the new data might be a sign that older renters are pursuing less conventional paths to homeownership.

Affordability is the motivation for teaming up

Not surprisingly, in an era when home prices have reached a record high, managing finances is key.

Data from the recent Rocket Mortgage survey indicates that among renters willing to co-buy with friends, affordability is the primary reason why 64% are considering this approach. Affordability far outpaces other reasons, such as companionship (17%) and shared ownership responsibilities (13%). Only 6% of respondents say building equity is their main driver.

Together, these data points position co-buying less as a lifestyle choice and more as a practical decision to save money up-front and every month.

Savings are important, but the intangible benefits are key, too, according to Krista Goodrich, a real estate investor and author of The Boss Lady Investor™ book series. Goodrich currently co-owns seven different homes with friends – five in Florida, one in Georgia, and one in Montana.

She notes that buying a home with friends not only makes homeownership more affordable, but also could lead to a bigger home with more amenities.

“Each of us has less risk involved in our investments because the investments are spread anywhere from between four of us to eight of us,” says Goodrich, who lives in Daytona Beach, Florida. “That helps not only on the down payment, but it [also] gives us access to more capital to buy things like pools, hot tubs, mini-golf installs, and more.  Many of these things we would not be able to purchase on our own.”

Friends recognize that life changes may present obstacles

Risks are a fundamental part of major life choices, and – according to survey respondents – they’re also unavoidable when buying property with friends.

When asked what their primary concern would be if they were to co-buy a house with friends, more than 29% cite future life changes – such as marriage, children, or relocation – as their biggest worry. Another 26% say they view financial risk around things like missed payments, joint liability, and job security as their biggest concern.

In comparison, only 13% of respondents say they’re most worried about lifestyle issues such as cleanliness or noise. Just 12% cite friendship strain as their top concern, and 11% say they’re most worried that their home needs – such as location, size, and cost – would be different from their friends’ home needs.

Rounding out the stat sheet, fewer than 9% of respondents tab ongoing shared finances as their primary concern.

Goodrich says it’s important for renters considering buying a home with friends to be mindful of the friends with whom they choose to do business, weighing several other risks as well.

“When you have multiple personalities and financial situations involved, you have to be malleable and patient, as things may not always go your way,” she says. “Only invest with those you know and trust. If you have any red flags, walk away, it's not worth it.  I would also avoid people who make rash decisions, as that will become a problem at some point.”

The bottom line: For many individuals, co-buying is the fastest path to homeownership

With the high cost of homeownership today, current renters – led by older generations – are open to the idea of co-buying a home with friends. The benefits of this approach are indisputable: saving money, buying a home sooner, and a sense of community.

If more and more renters decide to go in on homes together, someday we might see entire communities revolving around dorm-style condominiums where families cohabitate peacefully at the same address. Homeownership doesn’t have to look a certain way, and will likely continue to adapt to economic trends.

Methodology

Rocket Mortgage surveyed 1,966 American renters, age 18 and older, to determine their reasons for and concerns around buying a home with a friend or friends. A qualifying question was asked to eliminate respondents who would not consider buying a home with a friend or friends, bringing the final number of survey respondents down to 1,171. The survey was conducted online in January 2026.

This article is for informational purposes only and is not intended to provide financial, investment, or tax advice. You should consult a qualified financial or tax professional before making decisions regarding your retirement funds or mortgage.

Rocket Mortgage is a trademark of Rocket Mortgage, LLC or its affiliates.