New Trend in Affordable Housing

The trend toward smaller is not isolated to the tech industry.  Even the housing industry is getting on board.  Micro-housing, one of the hottest new trends in affordable housing, is coming to Portland.  Micro-housing is moving into the mainstream and shaking loose from it roots in architectural whimsy. With monthly housing costs taking up a larger and larger portion of people's monthly income, many Americans are looking for different housing options.  Obviously, many are turning to multi-family apartments.  Others, however, are seeking a more creative alternative.  One such alternative is micro-housing.  Micro-housing may be catching on.  One such development by home builder, DR Horton, in Portland, Oregon is embracing the micro-housing concept and is spotlighted in the video below.  Micro-houses are very small, typically between 300 and 800 square feet.  In essence, this development site in Portland is 15,000 sq. ft. and consists of 29 units.  This represents an incredibly efficient density.  This site is also being promoted as environmentally friendly where homenowners prefer to ride bikes and mass transit as opposed to driving cars.  In fact, these homes do not have garages.  Micro-housing is already popular in densely populated countries such as Japan and could catch on in urban areas in America where higher densities are feasible and costs of home ownership and leasing are very high.  Situated close to light rail, these homes could provide an affordable and eco-friendly alternative to people seeking to own versus rent, especially in areas where the cost of housing has skyrocketed.  At $300/SF, the price for these micro-homes in Portland seems very steep especially when compared to home prices in Texas.  As a result, most of Texas is probably not well-suited for micro-housing.  This model could gain momentum in some regions of the US.  Micro-housing is certainly an intriguing idea that might appeal to certain buyers, perhaps those just starting out or those looking to downsize.  Following this emerging trend will be interesting.