Would You Share Your Home? The Multifaceted Determinants of Preference for Shared Housing among Young Adults

Abstract

Young adults often face barriers in finding affordable housing due to their economic constraints and the fact that they are experiencing a distinct phase of the family life cycle. In response to this situation, there is a growing interest in shared housing as one of the solutions for housing difficulties of young single households in Korea. In spite of numerous studies highlighting the characteristics and benefits of shared housing, we still have a limited understanding regarding which young single households have particular interests in shared housing. This study fills this gap by examining various determinants of preference for shared housing among young single households in Seoul, South Korea. Based on a household drop-off survey of 1000 respondents, this study utilized a binary logistic regression model to identify various determinants-socio-demographic, personal, dwelling, and locational characteristics of young singles-that may affect the preference for shared housing. Furthermore, our analyses accounted for rental housing submarkets to specify how these determinants of preference for shared housing vary across a city as well as neighborhoods stratified by housing rent. Our findings may help planning practitioners and policymakers to provide better shared housing options across neighborhoods and develop housing policies to encourage young people to choose shared housing arrangements.