Amid the rising cost of living and ongoing rental crisis (in case you hadn’t heard!) Australians are flocking to share accommodation in record numbers.

Once dominated by inner-city lefties and backpackers in Glenelg, the face of share accommodation is changing, with many newcomers entering the market.

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Members over the age of 65 on Flatmates.com.au have increased 27 per cent since this time last year, as the age group has been one of the fastest growing on the platform over recent years.

While most members over 65 are live-in landlords hoping to offset their mortgage repayments, 20 per cent of these members said they were seeking share accommodation for the companionship that it brings.

Community Manager at Flatmates.com.au, Claudia Conley Photo: Supplied

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However, while we are seeing a shift towards greater diversity in the share housing market, it is still dominated by young renters seeking cost effective living options while enjoying a social lifestyle.

From an affordability perspective, median rent for a room in a share house in Adelaide sits at $250 per week, compared with a one bed flat which has a median weekly rent of $495.

Results from the most recent Flatmates National Share Accommodation Survey showed that house parties still hold pride of place in shared accommodation, as renters try to enjoy a night out without the hefty price tag.

Share housing is on the rise in SA. Picture: iStock

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Almost one in two respondents said they were hosting more house and dinner parties to save money rather than going out, and almost three in four members said they have managed to save money by living or converting their home into a share house.

While share house stereotypes are proving resilient, we are seeing a seismic shift in our share accommodation community. However, one shared factor driving the interest in shared housing is that while it is a more affordable option, it is also an incredible way to make friends.

A’s renters are throwing big money at share houses. Pic: iStock

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As 70 per cent of respondents say they believe there is a “share house community” in Australia, one in five members said that despite the pretty incredible financial benefits, the friendships are the best thing about shared living, because life is so much better when it’s shared.

Claudia Conley is Flatmates.com.au’s product manager