A family of 5 downsized to a one-bedroom apartment to escape feeling 'house poor.' Saving money hasn't been the only benefit.

Business Insider

15-05-2025

Going into 2024, Emmett and Megan Hawkins were living the American dream.
Emmett Hawkins, 37, and Megan Hawkins, 34, owned a 2,100-square-foot, five-bedroom home in Charlotte, North Carolina. They were raising their three kids there and had ample space for them to grow.
But after months of feeling isolated and financial strain in their picture-perfect neighborhood, the Hawkins decided to downsize to a one-bedroom apartment.
A year into the move, the couple told Business Insider they have no regrets.
House poor
By the spring of 2024, the realities of home ownership were weighing on the Hawkins family.
"We were in a development, and we just weren't happy there," Emmett Hawkins said. "We didn't really have that sense of community."
Megan Hawkins was also the primary caretaker of their house, and she said she felt like she was "constantly cleaning" it.
The financial strain of home ownership was also adding stress to their lives. They had been looking for a different home to buy in a better neighborhood for over two years, but high interest rates deterred them.
As time went on, the idea of being "house poor" in a desirable neighborhood became less and less appealing.
Then, they went to a birthday party for a friend living in a Charlotte apartment complex. The Hawkinses said they thought the complex was "gorgeous," and they loved that it had amenities like a pool and lawn for their kids to enjoy that they didn't have to maintain.
They lived in Queens, New York, in the early years of their relationship, so they were familiar with apartment living. It seemed like it could be the solution to their problems.
In May 2024, the couple decided to rent out their home and move into a one-bedroom apartment in the complex. Their mortgage is $1,400 a month, and they rent out the home for $2,300. Their apartment costs $1,600, but with the rental income and lifestyle changes, the couple said their overall expenses have been cut nearly in half.
They donated and sold much of their furniture and kids' toys, preparing themselves to live in the 830-square-foot apartment.
They initially set up the apartment like a studio, putting their bed in the living area. However, in August 2024, Megan Hawkins was diagnosed with an arteriovenous malformation (AVM), and she had to have surgery in December. They moved the kids' beds to the living area following the operation, giving her a quiet space to recover in the bedroom.
The surgery left the mom of three with partial paralysis that is slowly improving over time. Emmett Hawkins had to take time off from his job as an insurance claims adjuster to care for his wife and their children while she recovered.
He ended up getting laid off, so as of May 2025, the couple's only sources of income are the rent their tenants pay and their TikTok account, where they document their life living small.
The realities of downsizing
A year after they moved into their apartment, the Hawkinses are loving their minimalist life.
They told BI that their smaller living space has made them closer since they spend so much time together. They also love spending more time outdoors, exploring the complex and the city as a family.
"We really treat this like a crash pad for the most part," Megan Hawkins said of their apartment. "We're always at the pool or at the park."
The couple has also found it easier to clean their space since it's so much smaller. For instance, they said their old home's playroom was "chaos all the time," whereas their kids' toys are now in bins that the children help keep organized.
Although they love their downsized life overall, it does come with challenges. The Hawkinses said it can be difficult to get things done around the apartment or even just watch TV together when the kids are asleep, and they wouldn't mind having more storage space.
A one-bedroom apartment won't work for them forever, but the Hawkinses think it's great for their family, particularly while their kids are so young. Plus, living somewhere that saved them money when health issues arose was a "relief" for the couple.
"There's some relief knowing that we have a lower monthly expense, which was huge because we were spending a lot of money, meeting our deductible, and going to the hospital," Megan Hawkins said.
Initially, the Hawkinses planned to stay in the apartment for just one year, but they renewed their lease in May because of the surgery's impact on their family.
By May 2026, they hope to have purchased a plot of land to build a two-bedroom home for their family. They want their new home to be about 900 square feet, and they're eager for their children to have land to run around. Whether the dream happens or not, they don't plan to live in a large house again anytime soon.
"There's no joy when I see those big giant houses," Megan Hawkins said. "I just feel bad for the person cleaning it."