Adult dorms

Shared housing is a growing trend for adults of all ages. Troy Evans is one of the many developers excited about it.

"They'll have a tiny bathroom, tiny kitchen, a bedroom; one wall will be a whole window, high ceilings."

Occupants said they get more social connection than if they rented alone.

"It's a place to meet new friends, have a good time, engage in a community that's ever burgeoning with a new art scene," said Ben Raephael, tenant in shared housing.

Some describe it as similar to a dorm for adults, but most of these units have their own bathrooms and the tenants are in the next stage in life.

Urban Land Institute's Stockton Williams said research indicates a couple of things are driving this trend, including their urban locations.

"It's a combination of economics and a renewed interest among millennial's and baby boomers, in some cases, in living in areas where there's more vibrancy, walkable access to neighborhood stores."

Williams believes the community space and social aspect is also a big part of its appeal.

"It's common for micro-unit apartments to feature large interactive, open spaces, communal spaces in the property, and to the extent they can, to make it easier for tenants to access open space outside, as well."

In most cases, it's all about the money. In many parts of the country traditional housing costs are too high for most young professionals to be on their own and shared housing provides an easier way to network.

"Being able to network in the purest of senses, make friends, build business partnerships, build up connections that way," said Laurence Ford, future tenant at common space.

Research shows young professionals are the primary market for this kind of housing.