Co-living seemed like a perfect solution to the Gen Z and millennial housing shortage—but the closure of yet another pioneer reveals an uncertain future

Group of young people having breakfast at a common kitchen (Credit: Getty Images)

Common Living, which was founded in Brooklyn in 2015, was a pioneer of a new venture in residential property management: Rather than leasing out entire units, rooms would be rented out to individuals. Utilities, WiFi, and cleaning costs would be bundled together with rent—and apartments would be fully furnished.

Since then, co-living has ballooned across the U.S. and around the globe, but Common Living’s journey as a trailblazer of the model ended unceremoniously late last month when the company announced it was filing for Chapter 7 bankruptcy protection and liquidating its assets. The firm, which operated a U.S. portfolio of 5,200 units in 12 cities, now joins a growing list of co-living operators who have flamed out, leaving questions about the future viability of the model.