Living arrangements can significantly influence your lifestyle, finances, and overall well-being. As a Denver Metro Realtor, I often encounter individuals at a crossroads, deciding whether to live alone or with roommates. Both choices have distinct advantages and drawbacks, and the right decision often depends on personal preferences, financial situations, and life goals. Let’s explore this topic in detail to help you make an informed decision.
What Are the Financial Considerations of Living Alone vs. With Roommates?
Living Alone
When you choose to live alone, you enjoy complete privacy and autonomy, but this comes with a financial cost. In neighborhoods like Sloan Lake or Washington Park, renting or buying a one-bedroom apartment can be more expensive. As of 2025, the average rent for a one-bedroom apartment in these areas is around $1,800 per month. Owning a home in these neighborhoods means you’ll have to cover the full mortgage, property taxes, and maintenance costs yourself. However, owning could also mean building equity, which is a significant advantage for Denver 1st time home buyers looking to secure their financial future.
Living With Roommates
On the other hand, having roommates allows you to share expenses, making neighborhoods like Capitol Hill or Baker more affordable. Splitting rent and utilities among two or three people can reduce individual costs significantly, allowing you to save or allocate funds toward other investments. For instance, one of my clients saved enough by renting with roommates in the Highlands neighborhood to eventually buy her own condo. It’s a smart way to ease into homeownership, especially in competitive markets.
How Does Lifestyle Impact Your Decision?
Privacy and Space
Living alone offers unparalleled privacy. You can arrange your space exactly how you like it and enjoy quiet whenever you need it. This can be particularly appealing in bustling neighborhoods like LoDo, where stepping outside means immersing yourself in Denver’s vibrant city life. However, if you cherish social interactions and don’t mind sharing your space, having roommates can add a lively atmosphere to your home.
Social Environment
Roommates often become friends, creating a built-in social circle that can make adjusting to new areas easier. In the diverse and dynamic community of Five Points, for example, living with roommates might mean discovering new cultures and experiences together. It’s an opportunity to learn from each other and expand your horizons, which can be incredibly rewarding.
Flexibility and Freedom
Living alone offers more flexibility in terms of lifestyle choices—you don’t have to compromise on schedules or house rules. This freedom can be essential in fast-paced areas like Downtown Denver. However, living with roommates requires some negotiation and compromise but can also mean shared responsibilities and possibly a more balanced lifestyle.
What Are the Pros and Cons of Each Option?
Pros of Living Alone
- Privacy: Complete control over your space and lifestyle.
- Independence: Make decisions without needing to consult others.
- Personal Space: Freedom to design and use your space as you wish.
Cons of Living Alone
- Cost: Higher financial burden as you pay all expenses yourself.
- Isolation: Potential for loneliness without the built-in social interaction.
- Responsibility: All household responsibilities fall on you.
Pros of Having Roommates
- Cost Sharing: Lower individual expenses by splitting rent and utilities.
- Social Benefits: Built-in companionship and shared experiences.
- Shared Responsibilities: Household chores and maintenance can be divided.
Cons of Having Roommates
- Less Privacy: Shared spaces mean less personal space and privacy.
- Potential Conflict: Differences in lifestyle or habits can lead to disputes.
- Compromise Required: Need to negotiate and compromise on various aspects of living together.
How Do Neighborhoods Influence Your Decision?
The decision to live alone or with roommates can also be influenced by the neighborhood. As someone who moved to Denver decades ago not knowing anyone or what part of the city I wanted to plant my roots in, I’ve seen how different neighborhoods offer unique living experiences.
DTC (Denver Tech Center)
If you work in the DTC, living alone in this area might be convenient despite the higher costs. It’s a hub for young professionals, and the convenience of living close to work can outweigh the financial burden for some. Restaurants and shops are popping up here giving the area more walkability and nightlife. Having roommates here can make this more feasible financially while still enjoying the benefits of a prime location.
Glendale
Glendale is a small community surrounded by Denver. It offers a mix of suburban and urban living. It’s an excellent choice for those who want a balance between city life and quieter surroundings. Roommates can make living in this area more affordable, especially for young professionals or students.
Englewood
Englewood spans west to east across the southern metro area. It has some apartments and homes closer to more populated areas and some homes nestled into neighborhoods. It offers a wonderful variety of price points and home styles. This area offers great options for roommates sharing spaces and those who want to live solo.
What Are the Emotional and Personal Factors to Consider?
Introversion vs. Extroversion
Your personality type can significantly influence your decision. Introverts may prefer living alone, enjoying solitude and quiet evenings. Extroverts, however, might thrive with roommates, relishing in constant social interaction and shared experiences.
Life Stage and Goals
Consider where you are in life and what your goals are. Young professionals might favor roommates to save money, while someone planning to start a family might prioritize living alone to create a personal space for future growth.
Personal Stories
One of my clients, a young professional woman, initially chose to live with roommates in the DU area to save money. Since the apartment was close to the University, there was always someone else to take the empty room when they needed a roommate. She saved a considerable amount of money for a downpayment and decided to buy a home in that same neighborhood. She now rents rooms out to students and enjoys having most of her mortgage paid by other people.
What Are the Local Market Insights and Data for 2025?
Understanding the local market is crucial for making an informed decision. In 2025, Denver’s real estate market remains robust, with neighborhoods like Capitol Hill and Washington Park experiencing high demand. These homes typically see an annual appreciation of about 4%. This makes homeownership an attractive option for those looking to build equity.
Rent prices in neighborhoods like LoDo and Five Points are also on the rise, averaging $2,200 for a two-bedroom apartment. This trend highlights the financial benefits of having roommates, as shared expenses can alleviate the burden of increasing rental costs.
FAQs
- Can living with roommates help save for buying a home?
Yes, living with roommates can significantly reduce monthly expenses, allowing you to save more toward a down payment. This strategy is particularly effective in areas like Capitol Hill, where rent can be high.
- What is the average cost of living alone in Denver?
The cost of living alone can vary, but in neighborhoods like Congress Park, expect to pay around $1,800 for a one-bedroom apartment, excluding utilities.
- How does the decision to live alone or with roommates affect equity building?
Living alone generally means carrying the entire cost of housing yourself: rent or mortgage, utilities, internet, insurance, and maintenance. That can slow down your ability to save for a down payment or to qualify for a home that builds stronger equity.
Roommates reduce your monthly out-of-pocket housing cost, which can free up hundreds (or even thousands) per month to save toward buying.
- Is it easier to find housing in Denver as a single person or with roommates?
Availability varies, but finding housing with roommates can sometimes be easier due to the sharing of expenses, especially in competitive neighborhoods like LoDo. Most rentals will require each person to fill out an application, so it’s a good idea to know how they look on an application.
- How can I decide which option suits me best?
Consider your financial situation, lifestyle preferences, and long-term goals. Consulting with a Denver Metro Realtor can provide personalized insights and recommendations tailored to your needs.
Conclusion
Choosing between living alone or with roommates is a significant decision that impacts your lifestyle, finances, and future opportunities. Weigh the pros and cons, consider your personal goals, and evaluate the local market. As a Denver Metro Realtor, I’m here to provide guidance tailored to your unique situation. Whether you’re a Denver 1st time home buyer or exploring the suburbs, I can help you navigate the real estate landscape.