Tiny houses, which are houses that typically have a square footage of 400 square feet or less, have exploded in popularity in recent years, and the market is expected to grow by 4.88% by 2027. You may be familiar with tiny houses, and might even want to live in one yourself.

But what’s the appeal? What makes these small homes so popular? This article will break down the biggest factors contributing to the popularity of tiny houses.

Affordability

In today’s world, being able to afford a place to live is becoming harder and harder. Most people get stuck renting each month, or are locked into a mortgage. Tiny houses, however, are exceedingly cheaper and can usually be paid in-full right away. The cheapest tiny homes can cost $10,000 or less, with the average ranging from about $20,000-$60,000. Building your own tiny house can be cheaper than buying one premade.

According to The Tiny Life, 68% of tiny home owners do not have a mortgage. Over half of tiny house owners also have more savings than the average American, and 89% have less credit card debt. 67% have no credit card debt at all.

Perspective

Living tiny can change your perspective on materialistic things. Many people who have gone tiny say that it made them realize how much you don’t actually need. When you’re forced to downsize, it also helps you think about your priorities and what is most important in your home. Over 80% of people say they felt happier after downsizing to a tiny home.

However, there is a misconception that you have to be a minimalist to live in a tiny home. Living in a smaller space doesn’t mean getting rid of everything you enjoy. There are lots of tiny house dwellers that still have lots of clutter and decor despite the small square footage.

Sustainability

A tiny house can be a lot more sustainable and better for the environment than a full-sized house. When there’s less square footage, it’s a lot easier to power the entire house with solar power. Tiny houses use about 3,000 kilowatts of energy, much less than the 10,000 kilowatt average of non-tiny homes.

Besides power, tiny houses also use a lot less water. While the average American uses around 30,000 gallons of water per year, tiny houses use only about 2,000 per year. Tiny houses also produce over 40 times less carbon dioxide than an average home, only about 2 tons instead of 87 tons.

Creativity

A tiny house offers a lot more creativity and customization than a typical home. You can put it on wheels or a permanent foundation. You can renovate a shed or barn. You can even make a house out of a box truck or school bus – called a Skoolie.

On the inside, there are just as many ways to make it unique. You can choose to have lofted space, or just keep everything on one level. There’s also a lot of creativity in storage and space-saving solutions. Some popular storage tricks include built-in storage in stairs, floorboards that open up for more storage, and space underneath couch cushions. Some ways tiny house owners have saved space are by having tables that fold down and elevators beds that can be raised and lowered.

Easier to Build

Choosing to build a house yourself is a daunting task, but a tiny house is much more manageable. Constructing a tiny house could take as little as a few months from start to finish. A lot of people even build their tiny house in their backyard, as they don’t take up a lot of space.

With all of this in mind, it’s easy to see why many people are choosing to downsize to tiny homes. If you want to see examples of tiny houses and hear stories from people living tiny, a great YouTube channel is “Tiny House, Giant Journey.”