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The Trend
Buying property with someone else is not new — couples have always done it. What's changing is who is co-buying and why. According to a 2025 StreetEasy Buyer Trends Survey, 56% of prospective NYC buyers planned to purchase with a co-buyer. While most (43%) planned to buy with a partner or spouse, a notable share planned to buy with others: 9% with a friend, and 6% with a relative.
That "third way" of ownership — co-buying with friends or family rather than a romantic partner — is expected to keep growing as buyers navigate high borrowing costs and stubborn prices.
Why Co-Buying Is Rising
Affordability math. Splitting the down payment, closing costs, mortgage, and monthly maintenance across two or more incomes makes an otherwise unreachable purchase possible. In a city where entry-level ownership is brutally expensive, pooling resources is often the only path in.
High borrowing costs. With mortgage rates well above the ultra-low levels of 2021, monthly carrying costs are higher. Sharing them with a co-buyer eases the burden.
Demographic shifts. The rising share of aging adults in NYC is driving demand for multifamily homes — duplexes, triplexes, townhouses, or houses with a legal basement apartment — that support an independent but community-oriented lifestyle. These property types lend themselves naturally to co-buying arrangements.
The Appeal of Multifamily Homes
Co-buyers are increasingly drawn to multifamily properties — buildings with two or three separate units. The structure allows co-owners to live independently while sharing the financial load: one mortgage, shared closing costs, shared maintenance, but separate living space. For families spanning generations, or friends who want proximity without cohabitation, it's an attractive model.
What to Know Before Co-Buying
Co-buying is a serious legal and financial commitment. Before you sign:
Decide how to hold title. The two main forms are "joint tenants with right of survivorship" (if one owner dies, their share passes to the others) and "tenants in common" (each owner's share passes to their own heirs, and shares can be unequal). The choice has major estate and tax consequences — consult an attorney.
Put everything in writing. A co-ownership agreement should spell out: who pays what, what happens if one owner wants to sell, what happens if someone can't pay their share, how disputes are resolved, and the buyout process. Handshake deals between friends or family are how co-buying goes wrong.
Understand co-op vs. condo rules. If you're buying into a co-op, the board must approve all co-buyers, and some boards are wary of non-couple co-ownership or "guarantor" arrangements. Condos are generally more flexible.
Plan the exit. The hardest part of co-buying isn't getting in — it's getting out. Define upfront how an owner can exit, how the property gets valued, and whether remaining owners have the right of first refusal to buy them out.
The Bottom Line
Co-buying is a rational response to a difficult market — a way to access ownership that's increasingly out of reach for solo buyers. But it works only with clear agreements and realistic planning. The financial upside is real; so is the risk if the relationship or the arrangement breaks down.
Before committing to any building, check its financial health and violation history on Weverit — a building with serious problems is a risk no matter how you split the purchase.
Frequently Asked Questions
Is co-buying a home common in NYC? Increasingly, yes. A 2025 StreetEasy survey found 56% of prospective NYC buyers planned to buy with a co-buyer — including 9% with a friend and 6% with a relative, beyond the 43% buying with a partner or spouse.
Can friends buy an apartment together in NYC? Yes. Friends can co-buy, typically holding title as "tenants in common." A written co-ownership agreement covering payments, exits, and disputes is essential. Co-op boards must approve all co-buyers and some are cautious about non-couple arrangements.
What's the best property type for co-buying? Multifamily homes — duplexes, triplexes, or houses with separate units — are popular for co-buying because they let co-owners live independently while sharing costs.
Related NYC Housing Guides
- Can a NYC Co-op Board Reject You?
- Is 2026 a Buyer's or Seller's Market in NYC?
- Can You Legalize Your Basement Apartment in NYC?
Sources: StreetEasy 2025 Buyer Trends Survey and 2026 market predictions; U.S. Census Bureau American Community Survey. This article is for informational purposes only and does not constitute financial advice.
