A tiny house is exactly that – a smaller version of a regular home. You might expect to pay less rent for a tiny house due to its smaller size, but with increased demand for tiny house living and a limited supply of tiny homes, tiny home rental prices may surprise you.
With most tiny homes being rented out on a short-term basis as a fast source of income for tiny house owners, you’ll have to match their daily rates if you wish to rent long-term.
Can You Rent Tiny Homes?
Yes! Tiny house rentals are rising in popularity, especially for short stays or weekend getaways. But nowadays, there is also a need for long-term tiny house rentals. The tiny house movement has gained a lot of momentum over the past few years, especially with young adults, so there has been an influx in tiny house listings across the nation.
The following websites are popular with those looking for a tiny house rental:
- Tiny house forums
- Social media platforms directed at the tiny house community
You can also reach out to a tiny house village to inquire about rentals. Some of the most notable tiny house villages in the US can be found here.
How Much Does It Cost To Rent A Tiny Home?
Most tiny houses are available for short-term rentals, so the owners can get good money for just a few nights. For stability, it might be in the best interest of homeowners to rent long-term, especially to recuperate some of the tiny house building costs.
The cost of long-term renting depends on how much you are willing to spend. With daily rentals averaging around $40 a night – depending on the location and size of the tiny house – it’s best if you can closely match this daily price. This means that a tiny house can set you back between $600 and $800 a month.
Although this might seem steep for tiny living, it is still less than the cost of renting an apartment!
Tiny House Monthly Expenses You Should Expect
Below are some expenses you can expect, whether you own or simply rent a tiny home.
When it comes to tiny homes, taxes can be easy or extremely complicated. Taxes will depend on which state you are in and the type of tiny house.
Tiny homes are either registered as mobile homes or fixed homes, and the property taxes will be calculated accordingly. If your house has a fixed foundation, then you will have to pay real estate tax. If your house has wheels, you may have to pay personal property tax, which can be either local property tax or state tax.
A house connected to the grid or without wheels will also have to comply with local zoning laws.
How much do bills in a tiny house cost? Utility costs will be anywhere from $50 to $300 per month.
Sadly, if you’re not completely off-grid, tiny homes have the same utility bills as traditional houses. So, you can expect to pay the following utilities:
- Electricity: $30 – $60, although during winter this cost might increase to $200 for heating.
- Internet: Anywhere from $20 to $120, depending on if you get a hotspot plan or wireless internet.
- Gas: $10 – $15, depending on the size of your propane tank.
- Water: $0 – $10, although it depends if you have your own water source or if water can be provided for free with the parking rent.
Tiny homes are affordable housing options because of their low monthly costs. Maintenance costs will be around $10 – $35 per month and are mostly to replace pumps or weatherproof the outside.
Tiny house builders take pride in their work, and many tiny houses are easy to upkeep. It’s still a good idea to keep a small amount of money aside for emergency maintenance costs.
Insurance can average between $50 and $150 per month and is usually charged annually.
Insurance companies are often uncertain about how to process tiny house insurance. The best way to get good insurance is to make sure your tiny house is built by a certified builder, and that your house is certified as well.
The cost of insurance will depend on how often you travel (if at all) with your home, your state, and your insurance plan.
If you are moving from a large house into a tiny house, you may find yourself with a whole lot of extra furniture. If you find yourself unable to sell this furniture, you may have to rent some storage space.
A 5×5 m storage unit can cost between $40 – $50 per month, and 20 x 20 m units cost $225 per month. To reduce your storage cost, it’s easiest to downsize and get rid of your unnecessary furniture!
Mortgage/loan for the home
The cost of your mortgage or loan will depend on the initial down payment, the cost of purchasing your own land (if you plan on making your tiny home a permanent structure), as well as the size of your loan.
Of course, if you plan on renting, you won’t require a loan.
If you are buying, you might have to take out a mortgage or loan. Tiny homes aren’t subject to the same financing as traditional homes, but you can get an RV loan or personal loan to finance the construction.
Tiny homes cost, on average, $30,000 to $60,000 to build (and can be cheaper or more expensive depending on your style), so your loan cost will depend on how much money you need.
Unless you plan on changing up your diet, your grocery bill should match your current grocery costs. The only slight difference is that you lack storage space in a tiny home and might have to buy groceries in smaller quantities and more often. You can therefore plan on spending your current grocery bill plus 10%.
What Is the Average Monthly Payment For A Tiny House In Selected States?
The following rental prices were taken from Zillow.com and are only averages, with tiny homes available for typically cheaper than the listed price. However, there are more expensive options available as well.
- On average, $800 – $1000 per month.
2. New York
- On average, $800 – $1200 per month.
3. North Carolina
- On average, $900 – $1000 per month.
- On average, $1200 per month.
- On average, $1200 – $1800 per month.
- On average, $1300 – $2000 per month.
- On average, $600 – $1200 per month.
- On average, $1000 – $1600 per month.
- On average, $1300 per month.
- On average, $1600 per month.
Is Renting A Tiny House Cheaper Than An Apartment?
Depending on the location, a studio apartment may sometimes cost less than a tiny house, but tiny houses cost substantially less than regular one-bedroom apartments.
Is Renting A Tiny House Worth It?
If you don’t have the funds to build or buy your own tiny home, then renting a tiny house is definitely worth it. They are versatile, you don’t have to think of creative storage solutions, and you get a turnkey living space.
You also have the option of rent-to-own, where you don’t have to make a big commitment yet, but you may be interested in buying the tiny house one day.