4.1 million Australians live with with someone to save money – new data reveals

Key takeaways

Nearly 1 in 5 Australians are sharing homes to reduce costs, with many moving back in with family or others just to stay afloat.

Gen Z and millennials are far more likely to rely on shared living, highlighting how affordability challenges are delaying independence.

Shared housing is no longer temporary for many, reflecting deeper issues with housing affordability, income growth, and cost of living pressures.

Over the years, I’ve often said that when housing affordability deteriorates, Australians don’t just complain, they adapt.

What we’re seeing now is another example of that adaptability, although this time it’s being driven less by choice and more by necessity.

The traditional idea of moving out, gaining independence, and progressing through predictable housing stages is being reshaped by economic reality.

For many, the question is no longer “when do I move out?” but “how do I manage the rising cost of living without falling behind?”

1 in 5 have turned to shared living for financial reasons

Millions of Australians have moved in or stayed living with someone purely to ease financial pressure, according to new research by Finder.

A Finder survey of 1,011 respondents revealed nearly 1 in 5 Aussies (19%),  4.1 million people, have turned to shared living as a way to stay afloat.

Living with parents or grandparents was the most common fallback, with 10% of Australians saying they had returned home or extended their stay to curb costs.

Siblings were the next most likely cohabitants (7%), followed by friends (4%).

Shockingly 3% of Australians admit they’ve moved back in with an ex just to save money, suggesting financial strain is forcing people to put even the messiest pasts aside.

Taylor Blackburn, personal finance specialist at Finder, said more Australians are being forced into difficult trade-offs to maintain their housing security:

“Between soaring rents, rising interest rates and general cost-of-living pressures, the ability to live alone is slipping out of reach for many.”

Finder’s research found this was particularly true for younger Australians, 39% of gen Z have moved in with someone (or stayed living with them) for financial reasons in the last 12 months, compared to 27% of millennials, and just 4% of gen X.

Cohabiting for financial reasons is most common in Victoria where 33% have shacked up to save on accommodation costs, compared to 16% of Queenslanders, 15% of those NSW, 14% in WA, and only 11% of South Australians.

Blackburn said for a portion of the population, shared housing is no longer a preference; it’s a survival strategy:

“Unconventional living arrangements are fast becoming the norm as financial pressures leave Australians with little choice but to prioritise affordability over comfort.”

Blackburn encouraged Aussies to build an emergency fund:

“Design your life so you can manage a drought. One surprising expense that sinks you isn’t a surprise – it’s a design flaw.

“Maintaining even a modest financial buffer can be the difference between staying in control and being forced into living situations you never imagined.”

What this all means

While these figures may seem confronting at first glance, they highlight a broader shift in how Australians are navigating today’s economic environment.

Shared living arrangements are becoming a structural feature of our housing landscape, particularly for younger cohorts, rather than a temporary stopgap.

The challenge, however, is that these coping mechanisms don’t address the underlying issues of housing supply, affordability, and wage growth.

From a strategic perspective, this reinforces the importance of building financial resilience early and making informed property decisions over the long term.

Those who can get their foot on the property ladder, even if it means adjusting expectations or starting smaller, will be better positioned as the market evolves.

At the same time, policymakers will need to grapple with the growing disconnect between housing costs and household incomes, because without meaningful change, what is currently seen as a compromise risks becoming a permanent way of life for many Australians.

About Joseph Ballota Joseph is a Senior Wealth Strategist at Metropole. He focuses on ensuring all clients grow, protect, and pass on their wealth by assisting them in the strategic selection, financing, acquisition, and management of their investment properties. Being an investor himself for over 20 years, Joseph is able to give clients a detailed perspective for their strategic property plan