From college dorms to bunking in hostels, sharing a home is an age-old concept. But, it should be noted that co-living is no dormitory situation.

These stylish abodes are designed to take the functions of space sharing into consideration and encourage social interaction, while also giving residents the opportunity to enjoy the privacy of their own rooms.

Of course, then there are the added benefits of affordability, flexibility, a built-in social network, and great amenities. Ahead, we're breaking down everything you need to know about the three co-living companies that are pushing the limits with this new housing trend.

1. COMMON

Company M.O. This company renovates existing structures like vacant apartment buildings, and also builds co-living homes from the ground up. Each property is unique with cool, comfortable furnishings and timeless decor. “We design specifically for the homes to be social and cost-effective,” says Sophie Wilkinson, Common’s head of design and construction. “We think about design with co-living from the start.”

Locations: 18 homes located across four major cities: Chicago, New York City, the San Francisco Bay Area, and Washington D.C.

Design: Properties range from a beautiful historic building in Chicago with original architectural details like stained glass windows, to a brand-new building in the Brooklyn neighborhood of Williamsburg, that has a sleek, minimalist vibe.

Cost: A room in Chicago’s Pilsen neighborhood is $975/month, while a room in San Francisco’s South of Market area is $2,600/month

Lease: 6 to 12 months

Residents/home: 9 to 130, depending on location

Amenities: High-speed internet, utilities, weekly cleaning, household supplies, free onsite laundry, a fitness area, as well as a co-working space

Shared spaces: Living room, lounge areas, workspaces, kitchen, fitness room, bathrooms (2-3 persons/bath). Outdoor spaces include rooftop decks and backyards.

Private spaces: Bedrooms

2. OUTSITE

Company M.O. Outsite’s luxury properties cater to nomadic workers with comfortable lounges and co-working spaces outfitted with ergonomic standing desks and communal tables. “In all of our properties you'll find everything you need to stay, work, and play,” says Daniela Misleh, head of design for Outsite. “Our houses are luxury homes strategically located to open the door and jump to the beach, or with access to the best spots in the city.”

Locations: Stateside properties include Santa Cruz, C.A.; Venice Beach, C.A.; San Diego, C.A.; Lake Tahoe, C.A.; Williamsburg, N.Y.; and a site in Hawaii. Locations overseas include Bali, Costa Rica, Puerto Rico, with another in Portugal opening soon.

Design: The design of each co-living residence draws inspiration from its unique surroundings, whether it be a lush oasis in Bali or a cool California beach house in San Diego.

Cost: From $400/week to $1,300/month

Lease: 2 days to 1 month

 Residents/home: 8 to 20, depending on location

 Amenities: Fully equipped kitchens, workspaces, high-speed internet, onsite laundry, and recreational gear such as surfboards, yoga mats, and electric bikes.  

Shared spaces: Large common spaces and environments for activities, like lounges, television rooms, co-working areas, and kitchens. Outdoor spaces include rooftop decks, balconies, gardens, and swimming pools.

Private spaces: Bedrooms and bathrooms (most bedrooms are singles)

3. ROAM

Company M.O. This company buys small hotels in big cities around the world and transforms them into co-living residences. “Sometimes people need a place to live for six months or two weeks,” says Roam CEO Bruno Haid, who explains the homes cater to people who live flexible and global lives. “The focus is the architecture of optionality,” notes Haid. Residences are designed with a balance between communal spaces where residents can interact and private places where they can get away.

Locations: Larger cities like Miami, San Francisco, London, Tokyo, Bali, with another property coming soon in New York City

Design: To create an authentic sense of place, Roam hires local designers and builders to ensure properties echo their unique surroundings. In San Francisco, residents live in a posh urban mansion and in Miami, a sunny beach cottage.

Cost: A room in San Francisco is $220/night and $4,000/month, while in Miami, $95/night and $1,800/month.

Lease: A few days to several months

Residents/home: 19 to 38, depending on the location

Amenities: Daily cleaning, fully stocked kitchens with high-end appliances, high-speed internet

Shared spaces: Kitchens, co-working space with break rooms, a coffee shop, and library. Outdoor spaces include pools and rooftop decks.

Private spaces: Bedrooms and bathrooms