As with the rapidly growing demand for young single households, shared housing is considered as one of the housing alternatives. Beyond housing cost reduction, for shared housing to function as a sustainable housing alternative for young single households, we need to pay attention to the potential social value of shared housing. The goal of this study is threefold. First, this study intends to estimate the potential social value of shared housing by investigating the changes in social dynamics. Second, this study intends to examine whether the changes in social dynamics are differed by an individual's income level. Thirdly, if it really does, this study intends to identify which factors would make the differences. The results demonstrated that the shared housing residents showed positive changes in social dynamics compared to other housing residents. Also, indeed, it was found that the social outcomes for a shared living depend on one's income level, suggesting that the socioeconomic background of residents should be taken into account for better management of shared housing.