Article · Wikipedia archive · Last revised Jul 24, 2026

PadSplit

PadSplit is an American real estate co-living marketplace headquartered in Atlanta, Georgia.

Last revised
Jul 24, 2026
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PadSplit is an American real estate co-living marketplace headquartered in Atlanta, Georgia.1234

Overview

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.57 Based on currently available information, the site offers rooms priced between $89/week8 in metro Atlanta to $494/week in metro Los Angeles 9

History

PadSplit was founded by Atticus LeBlanc in 2017 as a result of an ideas competition10, 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 2018.1210 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.1415

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.1617

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.181920 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.232425 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

References

References

  1. Luck, Marissa. "Is co-living the answer to Houston's affordable housing crisis? One growing startup thinks so". Houston Chronicle. Retrieved 2024-04-05.
  2. Dukes, Joi (2022-06-23). "DeKalb County neighborhood residents frustrated over rental home". FOX 5 Atlanta. Retrieved 2024-04-05.
  3. Kusisto, Laura. "Group Living Gets More Affordable, in 30 Square Feet". WSJ. Retrieved 2024-04-05.
  4. "Reduce the Housing Shortage with Home Sharing". National Review. 2019-11-12. Retrieved 2024-04-05.
  5. Nicholas, Kristof (9 December 2023). "The Old New Way to Provide Cheap Housing". The New York Times.
  6. "Learn about our Host & Member Stories | PadSplit". www.padsplit.com. Retrieved 2025-12-10.
  7. PETERS, ADELE (30 April 2019). "Want new affordable housing quickly? Try splitting up existing homes". Fast Company.
  8. "Huge home in a nice neighborhood". www.padsplit.com. Retrieved 2025-12-10.
  9. "Live in San Dimas". www.padsplit.com. Retrieved 2025-12-10.
  10. Shieber, Jonathan (2020-08-19). "PadSplit uses the Airbnb model to tackle the country's affordable housing crisis". TechCrunch. Retrieved 2024-04-05.
  11. "Summary of Responses to Phase 1 Request for Ideas" (PDF). Archived from the original (PDF) on 2023-03-20.
  12. "Atlanta Startup Sees Single-Room Rentals as Future of Low-Cost Housing". Bloomberg.com. 2019-09-17. Retrieved 2024-04-05.
  13. Kanell, Michael E. "Techstars Atlanta effort to spur growth". The Atlanta Journal-Constitution. ISSN 1539-7459. Retrieved 2024-04-05.
  14. "Term Sheet — Thursday, April 18". Fortune. Retrieved 2024-04-05.
  15. Vashi, Sonam (2019-04-22). "Affordable co-living startup PadSplit raises $4.6 million". SaportaReport. Retrieved 2024-04-05.
  16. "Real Estate 101: Finding Good Tenants". Northwest Georgia News. 2024-04-03. Retrieved 2024-04-05.
  17. Fitzgerald, Therese (9 October 2019). "NYC Names 3 Development Teams for Co-Living Pilot".
  18. Keenan, Sean (2019-10-07). "How Atlanta-based start-up PadSplit 'threads the legal needle' to provide affordable housing". SaportaReport. Retrieved 2024-04-05.
  19. "Reduce the Housing Shortage with Home Sharing". Manhattan Institute. Retrieved 2024-04-05.
  20. "PadSplit raises $10M Series A round, plans to expand to Houston". www.bizjournals.com. Retrieved 2024-04-05.
  21. Feser, Katherine. "PadSplit launches shared housing option in Houston". Houston Chronicle. Retrieved 2024-04-05.
  22. "'Airbnb' of income-based room rentals moves into Central Virginia – Richmond BizSense". richmondbizsense.com. 2021-03-17. Retrieved 2024-04-05.
  23. "PadSplit Raises $20.5M to Increase Local Affordable Housing Options | Built In". builtin.com. Retrieved 2024-04-05.
  24. "Why Atlanta housing startup PadSplit is expanding in Jacksonville". www.bizjournals.com. Retrieved 2024-04-05.
  25. "This website is unavailable in your location". WSB-TV Channel 2 – Atlanta. Retrieved 2024-04-05.
  26. Forristal, Lauren (2024-01-30). "PadSplit, a marketplace for affordable shared housing, surpasses 10K+ units". TechCrunch. Retrieved 2024-04-05.
  27. Keenan, Sean (2025-06-26). "If Congress cuts rent vouchers, could PadSplit help bridge the housing gap?". Atlanta Civic Circle. Retrieved 2025-12-10.