Beyond Romance: Why More Buyers Are Teaming Up to Afford a Home

The housing landscape in the U.S.—and especially here in Brooklyn—has shifted dramatically in recent years. Between sky-high prices, persistent inventory shortages, and economic shifts that have made it harder for individuals to compete, buyers are getting creative. Increasingly, that means teaming up—with friends, siblings, or other non-romantic partners—to buy homes together.

A recent NPR piece highlighted this growing trend, and the numbers tell a compelling story.

Rising Costs, Shrinking Access

Since February 2020, home prices have jumped a staggering 56%, according to the National Association of Realtors. And in places like California or New York, affordability has slipped even further from reach. In many parts of the country, the average buyer now needs a significant income boost—sometimes as much as six figures—just to compete.

In Brooklyn, this crunch is all too familiar. We see buyers—especially first-timers—struggling with the “couple’s advantage,” a term used to describe how dual incomes open access to four times as many listings compared to a solo buyer. As more Americans delay or forgo marriage altogether, many find themselves locked out of the market unless they get strategic.

Enter: co-buying.

Co-Buying Isn’t Just a Trend—It’s a Strategy

According to multiple 2024 housing industry reports, approximately 15% of homebuyers are now purchasing with a friend or relative. Among Millennials and Gen Z, this model is especially appealing. One survey found that 70% of Gen Z respondents would consider co-buying with a friend—a massive shift from older generations, where just 1% of Baby Boomers had done the same.

The logic is simple: two (or more) incomes mean a stronger down payment, better financing options, and more listings within reach. In cities where single-family homes dominate the landscape, pooling resources is often the only way to get a foothold—especially when multi-unit dwellings like duplexes or triplexes are in short supply.

And it’s not just about affordability. Many buyers are motivated by community. After years of pandemic-era isolation, co-buying also offers a way to build intentional households, stay connected, and share responsibilities.

But It’s Not Without Risks

Co-buying is part financial strategy, part legal partnership—and it’s not something to enter lightly. Friends don’t come with the same legal protections that married couples have when splitting assets or responsibilities. That’s why housing experts strongly recommend a clear co-ownership agreement. This should cover everything from what happens if one person wants to sell, to how property taxes and repairs are handled.

And while affordability might be the spark, successful co-ownership requires ongoing communication, flexibility, and the kind of foresight that many buyers—regardless of relationship status—don’t always prepare for.

What This Means for Brooklyn Buyers

At Realty Collective, we’ve long understood that homeownership isn’t one-size-fits-all. From multi-generational purchases to creative co-living arrangements, today’s buyers are rewriting the rules—and we’re here for it. If you’re exploring a co-buying arrangement, our agents can walk you through the financial, legal, and emotional logistics so you’re protected and prepared.

We also know that housing stock isn’t always designed to accommodate these creative approaches. That’s why we advocate for broader zoning policies that promote duplexes, ADUs, and flexible housing solutions that reflect how people actually live today.

Co-buying may not be for everyone—but it is a powerful reminder that homeownership can be reimagined. Whether you’re pairing up with a sibling, a longtime friend, or even another single parent, you don’t have to go it alone.

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If you’re interested in learning more about the buying process, download our free Buying Into Brooklyn Ebook. We share a ton of valuable resources to demystify the buying process and help you become a Brooklyn home-owner.