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Some San Francisco tenants spend $ 1,200 a month for space in a shared building and sleeping in bunk beds.
The shared living situation is a symptom of the city's rising rent: while the national median rent of a one-bedroom apartment is $ 1,216 per month, it is 3,600 in San Francisco .
Read more: Here's how much is renting a one bedroom apartment in 15 major US cities
This means that the co-location solution proposed by the Californian company PodShare is $ 2,400 less expensive per month than the median rent of a one-bedroom apartment in the city. The only thing renters have to give up is their privacy.
According to CNN Business reporter Anna Bahney, tenants have access to a bed, locker and WiFi. There are currently seven PodShare sites: six in Los Angeles and one in San Francisco.
As Business Insider's Megan Willett has already pointed out, PodShare tenants share a refrigerator, food, bathrooms, toiletries and workspaces.
PodShare founder Elvina Beck told Bahney that it was difficult to let affordable housing – even at the cost of privacy – into the city center. She said tenants were usually in their late twenties and early thirties. Some tenants are new to the city, she said, while others are in town for business.
With rents in large cities on the rise, communities and cohabiting buildings, where utilities, furniture and household services are often included, are gaining popularity.
In Cushman & Wakefield's 2019 report titled Coliving's Moment, data show that tenants who live in living spaces cohabit on average 20% less per year than tenants who live alone.
Tenants also find other creative ways to reduce their cost of living. As Hillary Hoffower of Business Insider previously reported, some San Francisco residents live in houseboats rather than apartments to avoid high rents. Others live in cars, vans and RVs. Just think of Tracey Kaplan, a Bay Area News Group reporter, who avoided the expensive housing market by using her pension fund to buy a $ 53,894 utility van.
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