Tenants in California can significantly reduce their monthly housing expenses by sharing accommodations, according to a recent analysis by LendingTree. The findings reveal that individuals renting two-bedroom units with roommates enjoy an average savings of 38% compared to those living alone in one-bedroom apartments. This financial advantage is highlighted by data from the U.S. Department of Housing and Urban Development (HUD), which tracks rental costs across various metropolitan areas.
In California’s seven major metropolitan regions, the median rent for a one-bedroom apartment stands at approximately $2,085, while splitting a two-bedroom unit costs around $1,301 per person. This creates a substantial monthly savings of about $784. The analysis is based on HUD’s fair market rent estimates for the year ending October 2026, focusing on buildings that are at least two years old and fall within the 40th percentile of rental costs.
Growing Financial Benefits of Sharing Rent
The trend of doubling up is showing increasing financial benefits. Five years ago, California tenants saved around 36% by sharing rental costs. This increase suggests a growing recognition of the advantages of having roommates in the face of soaring housing costs.
On a national level, the statistics reveal a slightly lower average savings rate of 42% for tenants sharing two-bedroom units across 43 metropolitan areas outside California. The average rent for a one-bedroom apartment in these regions is $1,478, while the cost per person for a shared two-bedroom unit is approximately $857, resulting in a savings of $621.
Interestingly, none of the seven California markets surpassed the national average for savings when it comes to doubling up. The following are the specific savings percentages and dollar gaps for each market:
– **San Jose**: 42% savings, with a $1,240 difference between one-bedroom rents of $2,982 and shared two-bedroom rents of $1,742.
– **San Diego**: 39% savings, resulting in a $958 gap, from $2,459 for one-bedroom to $1,501 for a two-bedroom split.
– **San Francisco**: Also with 39% savings, equating to a $1,175 difference, where one-bedroom rents are $2,977 compared to $1,802 for two-bedroom units.
– **Fresno**: Offers 39% savings or a $523 gap, with one-bedroom rentals at $1,355 and two-bedrooms at $832.
– **Inland Empire**: Reports 38% savings, resulting in a $676 difference, with rents of $1,777 for one-bedroom and $1,101 for a two-bedroom.
– **Sacramento**: Also at 38% savings, with a $704 gap—one-bedroom rents at $1,832 and two-bedroom units at $1,128.
– **Los Angeles-Orange County**: Reports 38% savings, with a $784 difference between one-bedroom rents of $2,085 and shared two-bedroom costs of $1,301.
The data indicates a consistent trend over the past five years, with only modest fluctuations in savings percentages across the board. As rental prices continue to rise, the financial benefits of sharing living spaces may become increasingly appealing to tenants seeking relief from high housing costs.
For renters in California, the decision to share a living space not only provides a financial reprieve but also indicates a growing cultural shift towards communal living as a viable option in a challenging housing market.
