A group of people who have control over their own housing, without actually owning it personally. The corresponding legal structure can function as a separate legal person that owns the housing property, takes out mortgages and to whom the tenants pay rent. A housing cooperative is very similar to a housing association, but is managed (either entirely, or mainly) by its tenants.

Cooperative housing is an form of tenure in which the property is owned by an organisation (the housing cooperative) and then sold as shares to the residents of the community. Cooperative housing splits costs on shared housing amenities and is frequently used as a part of an intentional community initiative.

Housing cooperatives are distinct from condominiums, which are multi-unit dwellings with privately owned residential units and shared common areas and are classified as real property, meaning that buyers own the deeds to their dwellings. Housing cooperatives are not considered real property. Housing cooperative members become shareholders in a corporation that owns the property. As shareholders, they are entitled to exclusive use of a housing unit in the property.