“When I say I have 23 housemates, people are like ‘Wow, what’s that like? That sounds wild,’” Abeysekera told CNBC Make It. “But actually, it’s quite nice.”
Yet, there are trade-offs. "Once, I had to wait 15 minutes for the shower,” Abeysekera admitted.
Living with strangers might seem extreme, but it’s often necessary. With the average rent for a one-bedroom apartment in New York sitting at $3,900 per month, you can easily wind up living paycheck to paycheck.
But, if communal living isn’t your style, here are 5 alternative ways to bring down your cost of living — without having to come home to 23 strangers.
Look at rent in cheaper neighborhoods
One of the most effective ways to lower your living costs is to rent in a more affordable neighborhood. Opting for a place with a bit more distance from the hustle can be key.
For example, as of July 2024 in New York City, a 704 square foot apartment in Little Italy averages $6,451 per month. But for a similar space in Washington Heights, you’ll pay around $2,612 per month — a huge difference for a change in location.
Even in Crown Heights, Brooklyn, where Abeysekera chose to live, rent for a one-bedroom apartment averages around $2,935. So if he preferred this living arrangement, he still potentially could have found a similar dorm-like accommodation in a slightly less expensive neighborhood.
Choose a co-living space with fewer roommates
Abeysekera may have found community with his 23 roommates, but not everyone is cut out for such a busy living space. For those who crave a little more peace, co-living with just two or three roommates can still ease the financial burden, offering the chance to meet new people without sacrificing personal space.
After all, there are plenty of online services dedicated to finding roommates in New York, and with no revolving door of people, it could be easier to make lasting connections.
Cut back on essential costs
Roommates can help lighten the load, but there’s always a way to trim spending a bit more. Essentials like gas, groceries, utilities and rent might seem set in stone, but small tweaks — like cutting back on takeout or trading the Uber for a subway ride — can add up over time.
