Which is cheaper to own?

As the cost of buying a house has surged thanks to low inventory and rising inflation and mortgage rates, homes have become more unaffordable.

As a result, many home buyers are looking at alternatives such as tiny homes and mobile homes. What’s the difference between the two and which one is cheaper?

First, let’s set a definition for what a tiny home is. Tiny homes range from 100 to 400 feet, about 5% to 20% the size of a traditional home of 2,261 square feet. There is no set maximum size limit, but they are rarely larger than 500 square feet.

How much does a tiny home cost?

The average cost for a tiny home is $45,000 and they typically range from $30,000 to $60,000. Tiny homes can be as little as $8,000 and as much as $150,000. The nationwide average cost of a tiny home is $300 per square foot, which is double that of a traditional home cost of $150 per square foot. But tiny houses are still cheaper to build.