Are senior roommates right for you?

We all imagine our retirement differently. Maybe you want to age in place, maybe you want the social atmosphere of a senior living community, or maybe you’d like to retire on a cruise ship.

For many older adults, living on Social Security or retirement benefits can make it difficult to maintain the lifestyle they had during their working years, especially housing and everyday costs rise. One affordable option that has gained attention is finding an older adult roommate and sharing housing costs.

While the sitcom "Golden Girls" introduced senior roommates among older women to television audiences, it has since become a practical living arrangement for many older adults. Sharing a home can offer benefits beyond saving money on housing. Home sharing among older adults might support independent living while offering companionship and a greater sense of safety.

Benefits of sharing a home with a roommate

Sharing a home can offer several advantages beyond help with household expenses and chores, including:

Saving money

Saving money on shared living expenses is a major benefit of home sharing. Senior roommates who can save on rent, groceries, utilities, transportation, and general living expenses. Health care and medical care may also cost less outside a retirement community.

Sharing expenses while living independently or aging in place can help stretch a fixed income before you decide to move to a more expensive assisted living community near you. A homeowner may also offer reduced rent in exchange for household chores or maintenance. As long as an older adult can remain independent, the savings compared with a continuing care retirement community can be substantial.

Companionship

One of the most meaningful benefits of shared housing is the companionship a roommate can provide, especially when the loss of a spouse or changes in a social network may leave you feeling socially isolated.

According to the World Health Organization, “social isolation and loneliness have a serious impact on physical and mental health, quality of life, and longevity."¹A roommate may ease feelings of isolation and perhaps become a lasting friend.

Safety and independence

Having a roommate can offer practical support, too. Another person at home may be able to help after a fall or when medical care is needed, as well as share household responsibilities. Their presence can also offer some security if an older adult has difficulty bathing, dressing, or completing other activities of daily living (ADLs) or instrumental activities of daily living (IADLs).

A roommate with a car may help with errands or make it easier to enjoy activities outside the home. Having someone nearby can make independent living more manageable by reducing some of the risks of living alone.

How can you find an older adult roommate?

Growing interest in alternative housing arrangements for older adults has led to several approaches. In Los Angeles, the nonprofit Affordable Living for the Aging (ALA) has worked for the last 30 years to connect potential housemates and compatible older adult roommates who may benefit from sharing a home. These arrangements may involve one roommate sharing a residence or a group of several people living together.

The trend toward older adults sharing homes has also produced online options, such as Senior Homeshares. As with any internet resource, use caution when sharing personal information. These sites provide profiles of potential roommates, which may help older adults identify people with similar interests and backgrounds who could be a good fit.

Is shared housing right for you?

It depends on your lifestyle, preferences, and goals. A 2022 U.S. Census Bureau survey found that nearly one-third of older adults U.S. who were 65 or older lived alone.² Loneliness can also impact older adults across the country.

Keep in mind that not every roommate will be a good match. Any contract should include an escape clause in case the arrangement doesn't work out. Each potential roommate should undergo a background check and be considered with a long-term living arrangement in mind.

When it works well, sharing a home can ease the pressure of living on a fixed income, provide valuable support, and offer meaningful companionship. Together, these benefits can make independent living more manageable.

Interested in finding an older adult roommate?

If you're interested in finding a roommate for yourself or someone you care about, start by reviewing established home-sharing resources. Take time to compare options, evaluate each potential roommate carefully, and consider whether the arrangement will work over the long term.︎