Although the micro home (tiny house) movement isn’t new, Americans interest in tiny homes has skyrocketed during the COVID-19 pandemic.
IPX 1031 recently analyzed search trends data to find where tiny homes are most popular. In addition, they surveyed 2,000 Americans to learn what it would take for them to live in a tiny home.
Here’s what they found:
- 56% of Americans say they would live in a tiny home. 86% of first-time home buyers would consider a tiny home for their first home.
- 72% of home buyers would consider buying a tiny home as an investment property.
- Most appealing factors of tiny home living: 1. Affordability 2. Efficiency 3. Eco-friendliness 4. Minimalist lifestyle 5. The ability to downsize.
- Most desired tiny home amenities: 1. Heating/AC 2. Kitchen space 3. Designated bedroom 4. Laundry 5. Outdoor space.
- 53% of Americans can afford the median price for a starter home ($233,400) vs. 79% of Americans can afford the median price of a tiny home ($30,000-$60,000).
- Top states for tiny homes: 1. Vermont 2. New Hampshire 3. Maine 4. Wyoming 5. Washington 6. Idaho 7. Montana 8. Oregon 9. Rhode Island 10. Alaska.
For many, building, renovating, or buying a home, even a tiny one, is an investment and one that can pay off well with the right strategy. The current housing market has boomed during the Covid-19 pandemic as people look for a property with more space for the home office or homeschooling requirements.
Now is an excellent time for you to take advantage of the current seller’s market conditions. Real estate agents such as HomeGO buys houses at extremely reasonable rates and will work with you for the best deal all around as their 100,000 satisfied customers can attest.
If you are looking to sell your property in order to move to a tiny home, then take a look at the full micro home report!