Occupancy rate is the simplest and most-tracked operational KPI in coliving. It measures how full the property is over a period. Like ADR, occupancy alone doesn't tell you about pricing power — RevPAB integrates the two.
Occupancy is the lagging indicator of demand health and the leading indicator of NOI compression. In coliving specifically, occupancy below ~80% over multiple months almost always signals a structural issue (pricing, marketing, product, regulatory) rather than seasonality.
Formula
Occupancy Rate = Occupied Bed-Nights ÷ Available Bed-Nights
Worked example: Property: 50 beds × 30-day month = 1,500 available bed-nights. Of those, 1,395 were occupied. Occupancy rate = 1,395 ÷ 1,500 = 93%.
In the field
Stabilized coliving occupancy targets: 88–95% across most markets. Below 80% triggers diagnostic review at most multi-property operators. Habyt's portfolio targets 92%; the Common portfolio runs 88–93%.
Common pitfalls
- ×Computing occupancy on revenue rather than bed-nights — distorts when ADR fluctuates.
- ×Excluding 'planned vacancies' (between-tenant downtime, refurbishment) — flatters the metric.
- ×Comparing occupancy across markets without controlling for stay length (long-stay markets read higher).
- ×Treating short-stay openings (1-2 night) the same as long-stay (1+ month) — the cost structure is fundamentally different.
Diagnose your occupancy
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