Whether it's a weekend escape from city living, or even a tiny backyard office, these dwellings have seen a recent boom in popularity. IPX 1031 recently did an extended analysis of the sector which is presented below, but here is a summary of 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.
Below is the full survey report from IPX 1031:
In order to get more insight on tiny living, we surveyed 2,000 Americans across the country to find out how likely they would be to live in a tiny home and what amenities they would like to have in a tiny home. We also analyzed Google search volume to determine where tiny homes are most popular around the country.
Tiny Home Lifestyle
Living in a tiny home is certainly an adjustment that isn't right for every lifestyle, but more than half of respondents say they would consider living in one. Unique factors such as affordability (65%), efficiency (57%), eco-friendliness (48%) and the ability to live a minimal lifestyle (44%) are among the top reasons why respondents say they would like to live in a tiny home.