A 160-square-foot backyard home in the Las Vegas Valley is going for $950 a month and has received more than 100 tenant inquiries.
The time has come – the time to take charge. This summer, July 30-August 1, 2024, experience the complete reinvention of the most important event in real estate at Inman Connect in Las Vegas. Join your peers and the best in the industry to shape the future. learn more.
A tiny house in Nevada is sparking huge demand from renters craving an affordable place to live.
according to a report fox 5, The 160-square-foot backyard home in the Las Vegas Valley is asking $950 per month and has received more than 100 inquiries from tenants looking for a rare affordable rental.
“I do have 113 people and counting,” the landlord, who spoke on condition of anonymity, told the news station. “(My phone) keeps ringing with people wanting to rent it. People are definitely trying to save some money right now.”
The property is located in the landlord’s own backyard. He reportedly spent $22,000 of his own money to build the building and built dozens of other buildings elsewhere.
The $950 rental price includes utilities such as water, electricity, internet, trash and plumbing. At 160 square feet, this spacious tiny home offers plenty of space for one person, including a small pull-down dining table, a kitchenette with a washer/dryer, a bathroom, and a loft bedroom. facility.
However, according to the report, multiple groups of people inquired about the shared space, including a family of four and three separate individuals, each with two children and a dog, illustrating the willingness of some people to pay for Sacrifice to obtain rent. Can afford it.
According to statistics, the average rental price in Las Vegas is $1,990 Zillo. Rents in Sunbelt cities have risen significantly since 2020, with prices rising 29% between October 2020 and October 2021, and nationwide rents have increased 30% since 2020.
In an effort to increase rental housing stock, municipalities in Western states have loosened regulations on accessory dwelling units, such as backyard tiny homes, to provide homeowners with more opportunities to become landlords and expand the available housing stock.
Nevada is one of them. In 2021, the state Legislature passed a law requiring cities with a population of more than 150,000 to draft new zoning laws that would allow accessory dwelling units by 2024.
Similar laws have spurred new startups to help meet the new demand for tiny homes. One such startup is Samara, founded by Airbnb co-founders Joe Gebbia and Mike McNamara, which launched its first micro-housing “backyard” in 2022.
The company recently announced the purchase of a factory in Mexicali on the U.S.-Mexico border, bringing its manufacturing capabilities in-house to meet demand faster and better control quality.
Email Ben Vader
