Eliza Theiss<\/a><\/strong><\/p>\n\tThis article was last updated in October 2025.<\/p>\n\t
Although uncommon in the U.S. overall, roughly half of the country’s co-ops are concentrated in NYC, where buying a co-op remains an attractive option for would-be homeowners attracted by their lower prices and a more community-oriented living.<\/p>\n
Here, co-ops represent a fundamental component of the real estate market, with their history going back to the second half of the 1800s. Although co-op development has slowed significantly since the ’70s after the post-war boom years, co-ops still represent a quarter of the city’s residential stock today . Here’s all you need to know about co-op apartments and why buying a co-op may be the right option for you.<\/p>\n
\n\t\t\tWhat Is a Co-Op?\t<\/h2>\n\t
A housing cooperative (co-op) is a membership-based legal entity that owns residential property where members are also residents of the property. Members join the co-op by buying a set number of shares, which grants them the right of use over one or more units in the property. This ownership model is not considered real property ownership, but rather something more along the lines of owning shares in a corporation.<\/p>\n