Rent is forcing couples to shack up at record levels as 11% aged 18-24 now live with partner

Soaring rents are forcing young couples to shack up at record levels, with 11 percent of those aged between 18 and 24 living with a romantic partner.

Since the pandemic, 650,000 more couples have moved in together, taking the total to 3.2 million, despite many of them regretting it later. 

Money is the main factor in both Gen-Z and Millennials' decisions to move in with their partners, coming in at 80 and 76 percent respectively, according to a survey done by Realtor.com.

The percentage significantly drops for the older generations, with finances only factoring into 56 percent of Gen-X and 44 percent of Baby Boomers' decisions. 

With groceries bills doubling and rent hikes hitting unimaginable numbers, the need to save a pretty penny is growing while pockets are shrinking, forcing many young Americans to consider cohabitating sooner rather than later. 

The cost of living crisis has made Gen-Z reevaluate their housing situations as now 11 percent of those 18 to 24 are living with a romantic partner to save money - the highest amount ever

Money is the main factor in both Gen-Z and Millennials' decisions to move in with their partners, coming in at 80 and 76 percent respectively. The percentage significantly drops for the older generations, with finances only factoring into 56 percent of Gen-X and 44 percent of Baby Boomers' decisions

With money on the mind, cohabitating has long since saved couples and roommates a few precious coins. The survey found that more than 25 percent saved up to $500 a month living with another person, while 20 percent saved more than $1,000 and 13 percent saved up to $2,000 per month. 

A lucky four percent save more than $5,000 a moth living with a partner. 

For Kelly Eller, a student at Duke University, rent prices have forced her and her boyfriend - who moved from Boston to North Carolina - to shack up together with three others because 'rent is just sky high in Durham' for graduate students. 

'Financially, it would suck to be in two different places, but also I feel like it wouldn’t really have made sense for him to move here and be living in a separate apartment,' she told Bloomberg. 

Another couple - Xera Quattromani, 30, and Andrew Durgin, 27, of Boston - moved into together after the former's landlord hitched up his rent $100. Durgin was in no better situation, as his roommate had moved out and he couldn't afford a $3,300 apartment by himself. 

The couple decided to get a one-bedroom together in August, which saw Quattromani saving $2,000 on rent alone, but the pair are still 'struggling to afford living here with everything getting more expensive.' 

With money on the mind, cohabitating has long since saved couples and roommates a few precious coins. The survey found that more than 25 percent saved up to $500 a month living with another person, while 20 percent saved more than $1,000 and 13 percent saved up to $2,000 per month

'You have couples living with other couples and people living with six people,' Quattromani told Bloomberg. 'At this rate, nobody can afford to live alone.' 

Young adults are less likely to be financially secure, making cohabitating the safest answer, plus 'splitting bills is financially attractive,' researcher Fenaba Addo told Bloomberg. 

With the ability to save hundreds to thousands a month, waking up to morning breath is becoming more attractive and financial insecurity has caused many couples to jump the gun earlier than before. 

However, it doesn't always work out and 42 percent of couples regret moving in too soon. 

Forty-eight percent of the 3,009 surveyed, admitted their relationship didn't work out, while 31 percent said cohabitating caused their relationship to move too fast. Twenty-seven percent found out they were compatible living partner, while 22 percent said the stress of living together hurt their relationship. 

More than 25 percent said living together made it more difficult to break up, while 10 percent said it was difficult moving out after the break up. 

Love doesn't always work out and 42 percent of couples regret moving in too soon 

In addition, 17 percent broke off their relationship shortly after moving in together. 

Max Kulchinsky, of New York City, broke up with his girlfriend shortly after moving in together in January 2021 after a year of dating. The couple broke it off a year and a half later in May 2022, just months after renewing their lease. 

'It’s really expensive living in New York. Even though I had a decent job it didn’t make sense financially to live alone and neither of us really wanted roommates,' he told Bloomberg. 'After we made it through the pandemic, we thought we could make it through anything.' 

Kulchinsky is now stretching to make ends meet after his girlfriend moved out and even spent $3,000 to buy out his ex-girlfriend's half of the security deposit.  

'This experience definitely taught me to not jump into moving in with someone,' he told Bloomberg. 'I really don’t see myself moving in with a partner unless I felt like that was the person I’m going to spend my life with.'