Photo courtesy of Riverton Community Housing
As housing prices continue to rise, many residents are exploring alternative living arrangements that offer affordability, security, and community. One increasingly popular option is cooperative housing (commonly known as co-op housing). But you might be wondering, what is a co-op? How do they work? Where can I find co-op housing options in the Twin Cities?
Put simply, buying into a co-op means buying shares in the corporation that owns the property. In exchange, members are granted the right to occupy a single unit while also having a voice in the management of the living community.
Co-ops come in several different forms, including apartments, townhouses, duplexes, and multifamily homes—offering flexibility based on location and lifestyle preferences. Typically, they are managed by a board of directors elected by the shareholders, much like a homeowners’ association. With this structure, each member has a vote in key decisions such as electing board members, setting policies, and approving budgets—ensuring residents have direct input into their living environment rather than being subject to the decisions of a landlord.
Instead of paying traditional rent, members pay what is known as a monthly “carrying charge,” which covers costs of running the co-op, including mortgage payments, maintenance, and utilities. This shared responsibility fosters a collaborative atmosphere and strong sense of community among residents.
Twin Cities Co-ops
Check out these co-op housing options available to Twin Cities residents
Becketwood Cooperative: Perfect for active, independent seniors, this 210-unit community is positioned on 12 woodland acres along the Mississippi River bluffs—offering a variety of special amenities and activities for residents.
Lee Square Cooperative: Located just eight blocks from downtown Robbinsdale, this 55-plus community combines small-town charm with big-city convenience.
Lowertown Lofts Artist Cooperative: This urban co-op provides a creative live-and-work
space for artists looking to be part of a thriving community in St. Paul.
Riverton Community Housing: Catering primarily to students near the University of Minnesota – Twin Cities, Riverton offers multiple co-op properties, including Brook Avenue, Chateau, Cole Townhomes, Fourth Street, Franklin, Marcy Park, and Marshall.
Tilsner Artists’ Cooperative: Situated in a Victorian-era building in Lowertown St. Paul, this 66-unit co-op offers live-and-work spaces designed specifically for artists and their families.
