"The shared living sector holds enormous potential for landlords, a lot of which remains largely, and unnecessarily, untapped"
- Vann Vogstad - COHO
New data from HMO management platform COHO indicates that the shared living market in England currently holds almost £8m in potential monthly rental income, with London and the East Midlands accounting for the largest shares. The findings suggest there is substantial untapped value in this sector for landlords.
COHO’s review of shared living rental listings shows an estimated 13,663 rooms available across England. With the average monthly rent for a shared living room at £578, the total potential rental income from these listings is more than £7.9m each month.
London leads the market with 2,806 available rooms, representing 20.5% of national stock. At an average rent of £878 per month, the capital’s current listings have a combined potential monthly income of almost £2.5m.
The East Midlands follows with 2,367 rooms available and an average rent of £524, producing a potential total of more than £1.2m each month. The South East’s shared living market shows a similar value, with around £1.2m of monthly rental income tied up in its current listings. The West Midlands has £969,000 in potential income, ahead of the North West (£717,000), Yorkshire and the Humber (£611,000), South West (£563,000), East of England (£524,000), and North East (£223,000).
“The shared living sector holds enormous potential for landlords, a lot of which remains largely, and unnecessarily, untapped,” said Vann Vogstad, founder and CEO of COHO. “This latter fact is genuinely exciting because shared living is evolving. The old image of overcrowded HMOs with mismatched furniture and clashing housemate personalities is being left in the dust. In its place, we’re seeing a new wave of high-quality, community-focused homes that appeal to everyone from young professionals and couples all the way through to people in their 40s, 50s and beyond: it turns out nobody outgrows wanting good company.
“Landlords who lean into this shift and offer more than just a room, think stylish interiors, functional spaces, and properly considered housemate compatibility, are not only likely to see stronger returns, but also happier tenants who stay in the property for longer. When you create a home that people actually enjoy living in (and housemates they don’t want to hide from), everyone wins, as shown by our groundbreaking State of Shared Living 2025 report, which shows renters will pay substantially more to ensure they’re living with people they get on with.
“This is more than a financial opportunity for landlords, it’s a chance to reimagine shared living as something people actively choose, not settle for. The sector is on the rise, and we are seeing a real differentiation now being made between what we call Crisis HMOs (the sort of shared properties that the tabloids like to stigmatise at any given opportunity) and proper shared living, which sees people of all ages choosing to live in a great home with great company. The demand for the latter is stronger than ever, and an increasing number of landlords are now adapting to stay.”
