Latest news with #StorageCafe
Yahoo
3 days ago
- Business
- Yahoo
Top 5 Cities Where Tiny Apartments Are Big — and How Much It Costs to Live There
As typical rent prices across the U.S. reach more than $2,000, many Americans struggle to find affordable rental housing, according to recent research from As new graduates seek apartments, it puts more upward pressure on rent prices. Read Next: Discover More: This spring, multifamily home rental prices have edged up by 0.7%, up to $1,849 for a typical apartment, wrote in its March Rent Report. The solution for many renters? Tiny apartments, or micro-housing. Developers are converting space in dying or defunct malls across the country into micro-apartments, like the ones at The Arcade, a historic mall building in Providence, Rhode Island. Similarly, the Lafayette Square Mall in Indianapolis is planning to open 1,200 apartments in a former Sears building in 2025, reported. But the biggest demand for tiny apartments is on the West Coast, according to a new study from San Francisco ranks the highest or available micro-units and also shows the biggest cost savings for renters who can cram themselves and their belongings in a space that maxes out at 415 feet. According to research, some tiny apartments in San Francisco measure as small as 124 square feet. If you're reading this from the comfort of a spacious, 3-bedroom suburban home, 124 square feet is just slightly larger than a 10′ x 12′ bedroom you might have in your house. Most micro-units have a maximum size of roughly 415 to 440 feet to be considered 'micro' by zoning laws. But you'll find outliers. For instance, the smallest of the tiny apartments are in Honolulu, Hawaii, where a unit must be under 348 square feet to be considered 'micro.' Let's take a look at 5 cities where micro-units make up more than 10% of the city's available rentals. City Avg. size of tiny apt. % of micro-units Avg. Rent for Micro-unit Savings compared to traditional apartment San Francisco 415 14.70% $1,888 $1,628 Seattle 405 12% $1,289 $1,099 Honolulu 348 11.60% $1,700 $562 Portland (OR) 408 10.70% $1,144 $635 Minneapolis 433 10.40% $1,078 $661 More From GOBankingRates Surprising Items People Are Stocking Up On Before Tariff Pains Hit: Is It Smart? 10 Unreliable SUVs To Stay Away From Buying This article originally appeared on Top 5 Cities Where Tiny Apartments Are Big — and How Much It Costs to Live There
Epoch Times
25-05-2025
- Business
- Epoch Times
US Micro-Housing Construction Surges by Double Digits to Battle Rising Rents
The 18th-century children's nursery rhyme—'There Was an Old Woman Who Lived in a Shoe'—may not be far from today's reality as micro-housing —aka 'the shoebox apartment'—is experiencing double-digit percentage increases across America, and in particular, in the West. Micro-housing is described as rental units measuring under 441 square feet, or the size of a typical studio apartment. A recent Doug Ressler, an analyst at StorageCafe, told The Epoch Times that mounting home and rental costs—especially in America's priciest cities—are driving the creation of these alternate living spaces. 'These units rent for about half the price of traditional apartments and are attracting a lot of younger people,' he said. 'Many developments are located near college campuses and are being marketed not only to students, but to young professionals starting out and seeking to save money to eventually buy a home.' Ressler noted that while finances may be a major reason for some renters to choose micro-housing, other factors include the fact that these mini-apartments are usually within walking distance of stores, restaurants, entertainment, parks, and other amenities. Related Stories 5/22/2025 5/19/2025 'These projects are a mixture of new construction or adaptive reuse, such as a conversion of an office building or former school,' Ressler said. He added that this type of housing is also attractive to seniors or others living on fixed incomes, offering lower rents and low-maintenance lifestyles with convenient access to amenities and services. One new project of note is the CITYSPACE Studio, a 39-unit micro-housing development now near completion in Berkeley, California. The housing is being constructed on a 5,000-square-foot lot, which had originally been zoned for a single-family home. Each of the units is just 160 square feet. The building features furnished studios, stainless steel appliances, a community kitchen, laundry and social space, a private courtyard and community space, LED lighting, on-site management, and 24-hour security. Developed by Panoramic Interests, this latest project has yet to publicize its rents. However, a similar development in Berkeley offering 330-square-foot studio apartments is renting for $2,095 a month. 'Neighborhoods near universities and hospitals also tend to command higher property values and rental rates due to this consistent influx of residents,' Ressler said. 'For developers, this translates into a lower-risk investment with strong long-term appeal.' Courtesy of StorageCafe Regionally, the West leads the nation in the share of micro-housing, followed by the Midwest and the Northeast. Seattle has also emerged as a national leader in micro-housing, with these units comprising about 12 percent of the city's total housing inventory. In addition, some 66 percent of rental units currently under construction fall into the micro-housing category. 'Because land is at a premium along coastal cities, you're more likely to find this type of housing there,' Ressler said. 'I think you may start to see more demand for micro-housing, especially in these areas.' Minneapolis, Minnesota, leads the Midwest in micro-housing, with undersized units now accounting for 10.4 percent of the city's total rental inventory—the highest share in the region. Chicago, Illinois, is also coming on board, where micro-units there are renting at nearly half the cost of conventional apartments. In the Northeast, Newark, New Jersey, stands out for having one of the largest rent gaps between micro-units and conventional apartments. Renters there can expect to pay about 50 percent less for a micro-unit. While the South has remained lax on this type of housing, Miami, Florida, is listed among the top 20 large cities to welcome these alternative living spaces. Miami's smallest units are 180 square feet. Top States for Tiny Homes HomeGnome also recently the top states for tiny homes, which are typically free-standing structures measuring less than 400 square feet. Texas topped the list, followed by Colorado, Tennessee, Oregon, and Georgia. California also ranked within the top 10. Texas, Colorado, and Virginia currently offer 14 or more tiny home communities, while Iowa, Texas, and Kentucky are noted as the hot spots for living 'tiny' off the grid. Georgia hosts 4 tiny house festivals a year—more than any other state. 'We are in a housing crisis, so any type of incremental housing can help fill the need. Many cities across the country are legalizing Accessory Dwelling Units (ADUs) to help with affordable workforce housing,' Krista Evans, director of Planning and Geography for Missouri State University, said in the HomeGnome report. 'But much more needs to be done. I have never heard of tiny houses ruining a housing market. If anything, we need way more.' Housing in a Box Enter BOXABL, a Las Vegas–based firm dedicated to solving the global housing crisis by offering brand-new homes that literally fold together and come fully equipped with appliances. Its most popular model, 'The Casita,' is a 361-square-foot modular home with a living area, kitchen, bathroom, and bedroom. It also includes utility hookups for water, electricity, sewage, and internet. The studio casita currently sells for just $60,000. A Casita's interior living and sleeping area. Courtesy of BOXABL Since it secured an initial prototype order from SpaceX and a subsequent order of 156 casita homes from the Department of Defense, BOXABL is continuing to streamline its manufacturing and ordering process to deliver its casitas more efficiently. The company is planning to expand operations in Las Vegas and upgrade its inventory to offer prefabricated one- and two-bedroom casitas, as well as townhomes, single-family homes, and even apartment buildings. Alexis Bulloch, BOXABL client relations manager, told The Epoch Times that since they began producing these units in 2021, they've received more than 190,000 inquiries. 'We've gotten requests for information from individuals seeking affordable housing, municipalities, and developers who want to plan casita communities,' she said. 'Our goal is to solve the housing crisis not only here in America, but eventually on an international scale.' According to Zillow, the United States is now short by about 4.5 million homes. 'These casitas unfold in about an hour, and it takes close to 24 hours for full installation, including the bathroom and kitchen appliances,' Bulloch said. The homes are constructed with steel, concrete, and expanded polystyrene foam, and offer durable and structurally sound units. While they require minimal foundation work, potential owners must secure proper zoning allowances, as well as arrange for electricity and plumbing. To date, 600 homes have been built and are available in 15 states. BOXABL also offers the 'Baby Box,' a 120-square-foot RV unit selling for $19,999. It includes a kitchen, bathroom, dining area, pullout bed, a mini-split for heating and cooling, as well as storage space. The company is also partnering with Bethel AME Church of Fontana to deliver affordable senior housing with 27 casitas. This project is among the first in California under the state's Affordable Housing on Faith Lands Act. In addition, the company has secured a contract with HORIZONS, a national hospitality group, to deliver 60 casitas to their new resort locations in South Carolina and California.
Yahoo
13-04-2025
- Business
- Yahoo
7 Cheap Places Gen Z Will Move to in 2025, According to Real Estate Experts
According to research compiled by StorageCafe based on recently available data, Gen Z accounted for almost 30% of all state-to-state relocation in 2023, with around 2.2 million members of the generation moving to a different state. The research pointed out how younger generations are looking for better career opportunities, affordable housing options and new experiences when deciding where to live. Find Out: Explore More: According to real estate experts, these are seven cheap places where Gen Zers will move to in 2025 as they seek out cheap or affordable options. 'Overpriced coastal cities are no longer Gen Z's top residential destination,' said Paul Herskovitz, a real estate expert and founder of Discount Lots. 'Instead, they're tapping into emerging markets where their dollars stretch.' Herskovitz pointed out that Tulsa is still riding the wave of its remote worker incentive program and continues to attract young professionals looking to escape big-city burnout. The average home value in Tulsa is around $200,000, and the average apartment rental is $1,500, per Zillow. Read Next: 'LA or New York City rent is skyrocketing, while in Toledo, it's only about $800 per month on average,' Herskovitz said. YK Kuliev, a real estate expert and the owner of Fast Home Buyer California, noted that Gen Z isn't sleeping on Toledo, as he's seen young sellers cash out and move there to work remotely. 'The median home price is under $150,000, and monthly rents are still low enough that roommates can split a decent 3-bedroom for less than a studio in most big cities,' he said. Rick Wanamaker, a Realtor at Iowa Realty, noted that Des Moines offers community, walkability and access to outdoor experiences, which is what Gen Z values. 'From the country's longest bike trail system to major events like the Downtown Farmers' Market. Considering these factors, paired with a growing job market, a thriving downtown and sustainable infrastructure projects, such as the ICON Water Trails, a new airport terminal, and multiple new urban and suburban developments, it's the ideal location for younger generations looking to plant roots,' he said. According to RentCafe, Des Moines ranks third among the most livable metro areas in the U.S., with a cost of living 12% below the national average. With the average value for homes around $202,000 and an average apartment rental price of $1,500, per Zillow, you could save a decent amount if you can move here. 'It's a capital city with a vibrant culture, multiple colleges and investment opportunities under $250,000, with several homes even under $200,000,' said Danielle Andrews, a Realtor with Realty ONE Group Next Generation. 'It's affordable, connected and full of potential for first-time buyers.' With an average home value of around $284,000 and apartments going for around $1,500, per Zillow, you can enjoy better weather without paying a hefty premium. Andrews added that this is an ideal location for Gen Z because it's smaller and more affordable while still offering a sense of community. Kuliev noted that Gen Z freelancers, creators and tech workers are coming to Chattanooga and buying homes for under $250,000 because the city has a sneaky appeal. Many young people enjoy hiking, an artsy downtown and this town's affordable housing options. According to Zillow, the average monthly rent is just over $1,500 and the average home value is at about $303,000, so you can still get your foot in the door here. 'Median home prices under $200,000 still exist, and Gen Z buyers aren't hesitating to take on homes that need a few repairs,' said Todd Stephenson, a real estate expert and co-founder of He noted that younger people are buying homes here because the cost of living is lower and the path to equity is clear. With an average home value of about $126,000 and an average rental price of $1,250, this location is more affordable for young people. Stephenson pointed out that Grand Rapids offers more job access and urban amenities, which is attractive to younger buyers because they can be near the action without taking on big-city pricing. 'A buyer in their twenties can find a home that needs cosmetic work, make those changes over time and still come out ahead compared to renting in larger markets,' he said. With an average rental price just shy of $1,700 and an average home value of about $275,000, it makes sense why young people are moving here. The real estate experts pointed out that Gen Z has different standards for what they want when deciding where to move in 2025. Many Gen Zers are looking for affordable rent and cost of living, remote job support and co-working infrastructure, thriving local scenes, and safe neighborhoods with room to grow, as well as availability of tiny homes, multi-use developments or co-living spaces. 'Gen Z isn't making moves the way millennials did. They aren't chasing penthouses or glam. They're chasing breathing room, side hustle space and cities where $1,500 a month doesn't get you a shoebox,' Kuliev said. More From GOBankingRates 6 Used Luxury SUVs That Are a Good Investment for RetireesHow Far $750K Plus Social Security Goes in Retirement in Every US Region7 Overpriced Grocery Items Frugal People Should Quit Buying in 202525 Places To Buy a Home If You Want It To Gain Value This article originally appeared on 7 Cheap Places Gen Z Will Move to in 2025, According to Real Estate Experts
Yahoo
15-03-2025
- Business
- Yahoo
Florida remains top relocation destination despite migration slowdown
Editor's note: This story is available as a result of a content partnership between WFTV and the Orlando Business Journal. Florida has emerged as a top relocation destination for the 10th consecutive year, welcoming more than 100,000 new residents. The latest moving trends from the U.S. Census show the majority of Americans are relocating due to necessity rather than lifestyle. In 2023, Texas took the No. 1 spot from Florida as the nation's top state for net migration, ending Florida's 10-year reign. The shift is mainly due to a sharp drop in net migration to Florida, which fell from 238,000 in 2022 to 137,000 in 2023 — a decline of nearly 100,000, according to a report from StorageCafe. Meanwhile, Texas maintained a steady influx of new residents, giving it the top spot Click here to read the full story on the Orlando Business Journal's website. Click here to download our free news, weather and smart TV apps. And click here to stream Channel 9 Eyewitness News live.
Yahoo
04-03-2025
- Business
- Yahoo
Wisconsin gained population in 2023. How much it gained might surprise you.
Wisconsin gained more people in 2023 than any of its neighboring states and more than all but one other Midwest state. That's according to a new report from StorageCafe, a nationwide online platform that provides storage unit listings. The report used U.S. Census data to rank all the states based on net migration numbers in 2023. This was calculated as the number of move-ins to a state minus the number of move-outs. Wisconsin had the 15th-biggest net gain among all states that year and the second-most in the region, behind only Indiana. Here's what to know about the report and how Wisconsin fared: According to StorageCafe's report, Wisconsin had a net gain of 17,152 people in 2023. In the Midwest, only Indiana had a bigger-net gain, with 32,035 people. Among Wisconsin's neighbors, Iowa gained 79 people; Minnesota lost 12,356; Michigan lost 23,079; and Illinois lost 89,936. Relocation to Wisconsin has been most popular among younger generations. StorageCafe found that the state ranked ninth for Millennial migration in 2023. Millennials, born between the early 1980s and late 1990s, accounted for 6,702 of the state's net gain. Wisconsin ranked 11th for Gen Z net gain, with 8,512 members of the generation, born in the late 1990s and 2000s. Wisconsin saw net-positive migration among every generation included in the report: Gen X: 1,815 (16th) Baby Boomers: 482 (22nd) Silent Generation: 378 (21st) These states gained the most residents in 2023, according to StorageCafe's report: Texas: 137,582 Florida: 136,750 North Carolina: 110,833 South Carolina: 72,404 Georgia: 61,980 Arizona: 56,969 Indiana: 32,035 Colorado: 30,626 Tennessee: 27,791 Oklahoma: 25,058 These states lost the most residents in 2023, according to StorageCafe's report: California: −258,618 New York: −186,533 Illinois: −89,936 New Jersey: −66,994 Maryland: −38,671 Massachusetts: −34,909 Pennsylvania: −33,990 Louisiana: −33,824 Michigan: −23,079 New Hampshire: −13,661 MORE: View StorageCafe's full report and methodology. This article originally appeared on Milwaukee Journal Sentinel: Wisconsin gained population in 2023, ranks high in Midwest, US
