A Letter From Our CEO: Celebrating 10,000 Rooms and Counting

I am thrilled to share the exciting news that we have officially reached a significant milestone – 10,000 rooms are now listed on the PadSplit platform! As we celebrate this achievement, I want to emphasize a core belief that has been at the heart of PadSplit since its inception: everyone serving our communities deserves the […]

January 29, 2024

post image

I am thrilled to share the exciting news that we have officially reached a significant milestone – 10,000 rooms are now listed on the PadSplit platform!

As we celebrate this achievement, I want to emphasize a core belief that has been at the heart of PadSplit since its inception: everyone serving our communities deserves the opportunity to live in them. Our commitment to supporting hardworking hourly wage workers persists, and we remain focused on providing high-quality housing options to those who need them most. Together, we remain committed to addressing the housing shortage one room at a time.

I extend my deepest gratitude to our dedicated team, Hosts, and partners, who have played a crucial role in helping us reach this milestone. 

As PadSplit surpasses 10,000 rooms, we have successfully housed over 23,000 people across 18 different markets. Our residents, predominantly hardworking hourly wage workers, boast a median annual income of $27,636. Living in a PadSplit costs an average of $663 per month, leading to an average monthly savings of $332, with 60% reporting an improvement in credit scores. We are accruing $2.6M in monthly savings among our active Members, and we’ve helped save more than $69M for Members since inception.  For our broader community, PadSplit has saved American taxpayers over $2 billion dollars in capital subsidies, and millions of tons of CO2 emissions that would have been required to construct new apartments.

These numbers underscore the significance of our mission, driving us to make a difference every day. Getting to this point has been an enormous challenge, and with the pressing shortage of over 7 million affordable homes in our country, we still have a long way to go.

We look forward to celebrating the next 10,000 rooms on our way to 1 million.

One room at a time.

Atticus LeBlanc

Explore our posts

post image
A Step-By-Step Guide to Hosting with PadSplit

Here’s a step-by-step guide on what to expect at each stage of becoming a PadSplit Host.

Read
post image
What is the difference between PadSplit and other rental options?

As a landlord, there are a lot of ways to rent your property. We break down the difference between PadSplit, traditional and short-term rentals such as Airbnb.

Read
post image
How to Select Your First PadSplit

PadSplit’s Co-Founder and Chief Growth Officer, Frank Furman, shares his best tips for selecting an income-producing PadSplit property.

Read