Home Co-ownership in 2025: Survey of 1,637 Owners
The state of home co-ownership in the US in 2025. Explore trends, challenges, and insights from our survey and report on co-buying and shared homeownership.
30% of US home sales now involve co-buyers, and 61 million Americans co-own a home with someone they're not married to. Those numbers aren't projections. They come from our fourth annual survey of co-buyers and co-owners across all 50 states.
This report breaks down who's co-owning, where, why, and what's going wrong. If you're considering co-buying a home with friends, family members, or your partner, this is the data that should inform your planning.
What we'll cover:
A Movement, Not a Trend
In 2025, over 61 million Americans co-own a home with someone who isn't their spouse. That's nearly 20% of the population.
Co-buying and co-ownership aren't alternatives. They're essential paths to modern homeownership. Today, 30% of all US home sales are to co-buyers: a transformative shift in how Americans approach housing.
We started CoBuy back in 2016 because we lived this ourselves. We saw the gaps, the frustrations, and the risks firsthand. Co-ownership offers an accelerated path to wealth creation, but without proper tools, it can become a minefield of financial, relational, and legal challenges. On average, co-owner groups say they need help with six major aspects of managing joint homeownership.
This report builds on years of data to explore those challenges, the progress made, and how we can collectively unlock the full potential of co-ownership.
Four Years of Data: The Trend Line
This is CoBuy's fourth annual report on co-buying and co-ownership. Across four years and four national surveys, the trajectory is clear.
Sources: US Census Bureau ACS, US CFPB HMDA, ATTOM Data, NAHB, CoBuy, Inc.
Every year, co-buying claims a larger share of the market. The number of Americans co-owning a home has grown from roughly 50 million to 61 million in four years. Average group size increased to 3.6 in 2025, up from a consistent 3.3 across prior years. This signals a trend toward larger and more varied co-owner groups.
These aren't marginal shifts. Co-buying is now nearly a third of all US home purchases.
For context: when we published the first-ever national survey of co-buyers in 2021, Googling "co-buy a home" returned Japanese manga websites. The category barely existed. Four years later, co-ownership is mainstream, even if the systems that support homeownership haven't caught up.
Previous reports: 2021 · 2023 · 2024
The Co-ownership Journey
Buying a home with others is rewarding, but it isn't simple. Co-ownership is a shared investment, a social contract, and a financial partnership all at once. Without a plan, it can become overwhelming.
The co-ownership lifecycle unfolds in three stages:
- Co-buying: the initial purchase. Complex. 60%+ of groups who set out to co-buy never complete a purchase.
- Co-ownership: day-to-day management of the property, finances, and relationships. This stage can last 1 to 30+ years.
- Exit: the eventual sale, transfer, or dissolution. 100% of co-ownership arrangements end. The question is how prepared you are.
This journey demands a proactive, collaborative approach. And yet, many co-buyers go in unprepared. Most don't have a written Co-ownership Agreement. Most don't have an exit strategy. Most don't track documentation or define how expenses will be handled.
The cost of winging it? Up to $765,000+ in cumulative financial risk over 10 years. Or worse: a $350,000 disaster that could have been prevented with a few conversations and a written agreement.
The 6 Core Challenges
From our survey of 1,637 co-buyers and co-owners across all 50 states, we identified six universal pain points. These challenges affect everyone, no matter the group size or makeup.
1. Co-ownership Agreements (94% Need Help)
A Co-ownership Agreement is the #1 thing co-owners say they need help with. It lays down the rules of co-ownership: who owns what, who pays what, how decisions are made, and what happens when circumstances change.
The problem isn't that people don't understand why they need one. It's that the traditional path to creating one costs $10,000 to $15,000+ through an attorney, and even then, the resulting document is static. It becomes obsolete the moment life changes: someone gets married, has a child, loses a job, or wants out.
Co-ownerOS™ helps groups create dynamic agreements that evolve with their lives. But with or without our tools, every co-owner group needs a written, signed, and regularly updated agreement.
2. Finances, Expenses, and Payments (69% Need Help)
Money is the most common source of tension in any relationship. For co-owners, the stakes are higher because your largest asset and largest liability are shared with your co-owners.
Common flashpoints: splitting unexpected repairs, disagreements over past contributions, missed or late mortgage payments (which damage everyone's credit), and allocating net proceeds on sale.
Financial literacy compounds the problem. The World Economic Forum reports that Americans' comprehension of financial risk is "particularly low." Without a system for tracking contributions, managing joint expenses, and documenting every financial decision, co-owners are flying blind.
3. Documentation and Record-Keeping (66% Need Help)
In co-ownership, "if it isn't in writing, it doesn't exist." That's not a platitude. It's how the IRS, probate courts, lenders, and insurers operate. 66% of co-owners in our 2025 survey say they need help with documentation. The gap between the importance of records and the effort most groups put in is enormous.
Documents co-owners should track: purchase agreements, title documents, mortgage docs, insurance policies, tax filings, Co-ownership Agreement versions, receipts for repairs and improvements, and communications about material decisions.
4. Roles, Rights, and Responsibilities (66% Need Help)
Co-owners often assume they'll "figure it out as they go." Without clear roles, misunderstandings and conflicts are inevitable. Who handles maintenance? Who manages finances? What happens when someone falls short?
These flashpoints are covered in depth in our post on the 5 flashpoints smart co-owners avoid.
5. Exit Strategies (63% Need Help)
Every co-ownership arrangement will end, whether through sale, transfer, or unforeseen circumstances. Without a plan, exits can become messy and expensive. A partition action (lawsuit to force a sale) can cost $75,000+ and take 18 months.
The fix is straightforward: define exit terms before you need them. Buyout pricing, sale triggers, right of first refusal, and timelines for refinancing should all be agreed on and documented.
6. Risk Protection (59% Need Help)
Most co-owners underestimate the risks they face. From financial exposure to legal liability to the death of a co-owner, the downside scenarios are real. This year, 59% of co-owners reported needing help with risk protection, up from 56% last year.
Proactive measures: homeowners, title, life, and umbrella insurance. Regularly updated agreements. Transparent financial planning. Estate planning documents (wills, powers of attorney).
Who Co-owns Homes?
There's no "typical" co-owner. Co-ownership attracts a broad range of people united by shared goals but diverse in their backgrounds.
Group Composition
Friends make up the largest segment (58%), followed by relatives (30%) and unmarried couples (23%). Mixed groups, comprising friends, relatives, or other combinations, account for 31% of all groups. 15% of groups include a married couple alongside at least one other co-owner.
This composition has been remarkably consistent across our four annual surveys, with one notable shift: the proportion of groups that include friends has increased year over year, from 49% in 2021 to 58% in 2025.
Group Size
The average co-owner group size increased to 3.6 this year, up from 3.3 in 2024. Groups range from 2 to 10+ members, with the vast majority (roughly 88%) having 2 to 4 co-owners.
Groups with 6+ members face two significant hurdles: building consensus across that many stakeholders, and securing traditional residential mortgage financing. In our experience, 95% of groups with six or more members do not complete a home purchase together.
Geography
Co-owners are represented in all 50 states and the District of Columbia, spanning urban, suburban, and rural areas.
Top 5 states: California, Washington, New York, Colorado, and Texas. A moderate shift toward higher concentrations in coastal metros reflects rising home prices over the past 12 months.
Motivations
The top two motivators remain financial reasons and social reasons. That rank order has held across all four annual surveys. Co-buying increases purchasing power by up to 41% in major metros and shares recurring costs across the group.
But the financial logic alone doesn't explain the growth. The social dimension matters: multi-generational households, friends choosing proximity over isolation, couples building equity together before (or instead of) marriage.
Age
Co-owners range from their mid-20s to their 90s. This is not a young person's trend. Multi-generational households, in particular, bridge generations and pool resources in ways that benefit everyone involved.
What's Next for Co-ownership
Four years of data point in one direction. Co-buying's share of home purchases has grown from 25% to 30%. The number of co-owners has grown from 50 million to 61 million. Average group size is increasing. And awareness of risk is rising: the share of co-owners who say they need help with risk protection grew from 56% to 59% year over year.
What hasn't changed: the systems that support homeownership still treat co-owners as edge cases. Mortgage underwriting, tax frameworks, legal structures, and real estate practices remain built for the married couple or the individual. Co-owners navigate these systems without guardrails.
Three shifts worth watching:
- Group size is growing. Average group size jumped from 3.3 to 3.6 in a single year. Larger groups amplify both the benefits (more purchasing power, shared costs) and the complexity (more stakeholders, harder consensus, tighter mortgage qualification).
- Friends are the fastest-growing segment. The proportion of co-owner groups that include friends rose from 49% in 2021 to 58% in 2025. Friends co-buying isn't a novelty. It's becoming the most common configuration.
- Multi-generational co-ownership is accelerating. Over 65 million Americans now live in multi-generational households. As housing costs climb and Baby Boomers age, families are pooling resources across generations at increasing rates.
The demand side is clear. The supply side, meaning infrastructure, tools, and professional support built for co-owners, is where the gap lives. That's what we're building.
Bottom Line
Co-ownership is not a fringe trend. It's reshaping how Americans access and manage homeownership. From friends pooling resources to multi-generational households, shared ownership offers financial opportunity and lifestyle flexibility.
But it comes with challenges: agreements, finances, risk protection, and more. Without the right tools, these obstacles create stress, conflict, and financial loss.
Co-ownerOS™ simplifies co-ownership by providing the structure, tools, and insights you need to succeed, whether you're just starting or navigating long-term responsibilities. From dynamic agreements to financial management and exit strategies, we help you stay aligned and protected.
FAQs
What is a co-buyer?
A co-buyer is anyone who buys a home with a friend, relative, or partner who is not their spouse. Once the purchase is complete, they become co-owners, sharing legal ownership of the property. Anyone who isn't on title (children, dependents, renters) isn't considered a co-owner.
How many Americans co-own a home?
As of 2025, over 61 million Americans co-own a home with someone they're not married to. Co-buyers now account for 30% of all US home sales. Both figures have increased every year since we began tracking in 2021.
What types of groups co-own homes?
Co-ownership works for friends, family members, unmarried couples, married couples alongside other co-owners, and combinations of all of the above. The key is alignment on goals, contributions, and expectations. The average group size is 3.6 people.
What are the biggest challenges co-owners face?
Our survey identified six core challenges: Co-ownership Agreements (94% need help), finances and expenses (69%), documentation (66%), roles and responsibilities (66%), exit strategies (63%), and risk protection (59%).
Do co-owners need a Co-ownership Agreement?
Yes. A Co-ownership Agreement defines the terms, structure, and management of your co-ownership arrangement. Without one, you have no framework for handling disagreements, financial changes, or exits. 94% of co-owners in our survey said they need help with this.
How does co-ownership impact taxes and shared expenses?
Co-ownership impacts shared expenses like property taxes, maintenance, and utilities. How you hold title and split ownership affects who can claim mortgage interest deductions, how capital gains are allocated on sale, and whether transfers between co-owners create taxable events.
What happens if a co-owner wants to sell?
It depends on your agreement. Without one, any co-owner can petition a court to force a sale through a partition action, which is expensive and slow. With a well-crafted exit strategy, you can define buyout pricing, right of first refusal, and sale timelines in advance.
Is co-ownership only popular in expensive coastal cities?
No. Our survey covers all 50 states and Washington, DC. While the top 5 states (California, Washington, New York, Colorado, Texas) reflect higher concentrations, co-ownership spans urban, suburban, and rural areas nationwide.
Notes
Estimates based on data from US Census Bureau ACS, US Consumer Financial Protection Bureau HMDA, ATTOM Data, NAHB, CoBuy, Inc.
Multi-generational households: over 65 million Americans live in a multi-generational household. Based on data from US Census Bureau ACS, Pew Research, CoBuy, Inc.
Survey Methodology
In a comprehensive 2025 study on home co-ownership, CoBuy, Inc. surveyed US groups of co-buyers and co-owners comprising 1,637 adults from 50 states and Washington, D.C. Groups included friends, relatives, and couples falling into one of two categories: (1) co-buyers who plan to jointly purchase a home within the next 24 months or (2) co-owners who currently share ownership interest in a residential property. Participants responded to both open and closed-ended questions.
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Questions, Comments, Media Inquiries
Get in touch with us at research [at] cobuy.io.
Legal Disclaimer: This content is for informational purposes only and does not constitute legal or financial advice. Co-ownership laws and practices vary by jurisdiction. For specific legal concerns, consult a qualified attorney.