PadSplit

According to the New York Times, "PadSplit provides an online platform for low-income workers to find furnished rooms offered by landlords. Sometimes the landlords rent out the entire house, room by room; others rent out just a room or two. PadSplit renters have an average age of 35 and earn a median of $30,000 per year."^[5] PadSplit refers to residents as "members," and housing providers as "hosts."^[6] Rooms on the platform include utilities, Wi-Fi, and offer flexible commitment periods.^[5][7] Based on currently available information, the site offers rooms priced between $89/week^[8] in metro Atlanta to $494/week in metro Los Angeles ^[9]

PadSplit was founded by Atticus LeBlanc in 2017 as a result of an ideas competition^[10], where his former company Stryant Investments, "propose[d] a project that would include a model that aims at increasing housing density and the supply of affordable housing by dividing apartments and houses into multiple units, while remaining a safe and respectable option for residents."^[11] He brought on co-founders Frank Furman, and Jon O’Bryan in Atlanta, Georgia, in 2018.^[12][10] In 2018, the company was selected to participate in the Atlanta Techstars program.^[13] In April 2019, PadSplit raised $4.6 million in seed funding.^[14][15]

In October 2019, PadSplit was selected as one of three firms to conduct a co-living pilot program administered by ShareNYC and the New York City Housing Preservation & Development.^[16][17]

In August 2020, PadSplit raised $10 million to expand into other cities beyond Atlanta, including Houston.^[10] At this time, PadSplit operated more than 1,000 housing units.^[18][19][20] By January 2021, PadSplit operated 1,230 units through its shared housing model, without any public subsidies.^[21] In March 2021, PadSplit opened its first co-living units in Richmond, Virginia.^[22]

In November 2021, PadSplit raised $20.5 million in a Series B round of fundraising, bringing its overall fundraising total to $34.1 million and announcing its plans to expand to Dallas, Texas, and Jacksonville, Florida.^[23][24][25] In January 2024, the company surpassed 10,000 co-living rooms and housed 23,000 people across 18 U.S. cities.^[26] By May of 2025, PadSplit surpassed 20,000 co-living units and housed 51,000 people across 27 states, without using taxpayer funding. ^[27]