I lived in co-ops for two years of college. It was very inexpensive, about $550/month including "rent" (not actually rent since we were technically owners), all utilities, furnished, and all meals, in an excellent downtown location near campus. A comparable apartment in the area might go for $700/month per person, assuming it's a two- or three-bedroom place, and that doesn't include utilities or food. Of course the rooms were tiny, the house was very used-up (the two I lived in were 50+ years old), lots of carpet stains, scuffed floors, and you have to deal with living with 20+ young people (noisy, drama etc.). It was a good way to meet people though. At my school at least, co-ops were basically frats for hippies.