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Interest in tiny homes grows as popularity rises

by Liz Hughes

Interest in tiny homes grows as popularity rises

While pandemic headlines had many leaving cities and moving to the suburbs or looking for additional space in their current home, interest in tiny homes was little remarked upon. 

Nevertheless, interest in tiny homes, which are typically 400 square feet or less and can be built on wheels, has only grown, despite the focus on other living trends. More than half of those surveyed in a late 2020 IPX 1031 poll said they would consider living in a tiny home.

IPX 1031 surveyed 2,006 Americans between Nov. 1 and Nov. 5 to find out how likely they would be to live in a tiny home and what amenities they’d want. The firm also analyzed data to determine where in the country tiny homes were most popular. 

Eight months after COVID moved workplaces and schooling into homes, and families found themselves more together than ever, 56% of respondents said they would consider living in a tiny home, and 72% said they would consider buying one as an investment property. 

The survey found tiny homes to be most popular in both the Northeast and Northwest. The top 10 locations are Vermont, New Hampshire, Maine, Wyoming, Washington, Idaho, Montana, Oregon, Rhode Island and Alaska. 

The top reasons tiny homes were so popular among respondents were affordability (65%), efficiency (57%), eco-friendliness (48%) and the ability to live a minimal lifestyle (44%), according to the report. Other appealing factors were downsizing (36%), mobility (35%) and privacy (29%). 

The report also found that among those who never owned a home, 86% would  consider buying a tiny home for their first one. With most tiny homes costing between $30,000 and $60,000, they are certainly cheaper than a starter home. 

Must-have amenities for respondents included heating and air conditioning (60%), kitchen space (58%), a designated bedroom (48%), laundry (43%) and outdoor space with a view (42%), according to the report.

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