With plans recently approved for a major new 280-studio co-living development in Hackney Wick, the conversation around how we live in London is shifting once again. For young professionals, creatives, and renters aged 22 to 40, the traditional route of renting a standard flat with a small group of friends is no longer the only option on the table. Co-living promises private studio bedrooms paired with massive, high-spec shared spaces—think gymnasiums, co-working hubs, roof terraces, and cinema rooms.
But as these developments pop up across Hackney, Peckham, and Wembley, many renters are asking a fundamental question: is co-living actually a smart financial move, or is it just a premium-priced house share with better marketing?
At first glance, the monthly rent for a co-living studio in London can look incredibly high compared to a room in a standard HMO (house in multiple occupation). However, to make an honest comparison, you have to look at what is actually included in that single monthly payment. Co-living operators almost always bundle the following into your headline rent:
When you add up what you would spend on rent, bills, a gym membership, and a desk at a co-working space in Hackney, the gap between a standard flat share and co-living starts to shrink. If you are someone who actively uses these amenities, co-living can offer surprising value and eliminate the monthly stress of splitting bills with housemates.
Whether you choose a co-living studio in East London, a room in an HMO, or a traditional flat, there is no escaping the reality that renting in London is expensive. Historically, this money simply left your bank account every month, leaving you with nothing to show for it.
This is where modern fintech is changing the game. By using Brick Rewards, you can earn points on your rent payments automatically, without changing how or where you pay. Because Brick uses secure open banking technology to detect your rent leaving your account, you do not need to pay through a specific app or change your tenancy agreement. You pay your landlord or building operator exactly as normal, open banking verifies the payment, and you build up points.
Because London rents are high, the potential to earn is significant. The more rent you pay, the more points you accumulate. These points can then be redeemed for local perks, including discounts at independent coffee shops in London, fitness classes, or even to part-pay for major high-street gift cards.
One of the biggest frustrations for London renters is that years of making massive, on-time monthly payments historically did nothing to help them buy a home or secure better loan rates. When you are paying a premium for rent in a co-living space, that payment history deserves to be recognised.
Through the Brick Rewards app, you can opt in to have your on-time rent payments reported to Experian. This simple, free step uses your positive payment history to demonstrate financial reliability to lenders, which may help improve your credit score over time. Whether your ultimate goal is homeownership or simply keeping your financial health in top shape, it makes sense to make your largest monthly outgoing work for you.
Ultimately, co-living is a lifestyle choice as much as a financial one. If you value privacy but still want an instant community on your doorstep, love having a built-in gym, and hate arguing over who forgot to pay the Wi-Fi bill, it could be a perfect fit.
Before signing a tenancy, always do the maths. Compare the total bundled cost of the co-living space against a standard flat plus bills. Whichever path you choose, make sure you are getting rewarded for the rent you pay. To find out how easily you can start earning points on your next rent payment, read our guide on how to earn rewards on monthly rent and start making your money work harder today.
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