As the cost of living continues to rise, finding affordable housing options has become a top priority for many individuals and families. The good news is that there are plenty of creative and cost-effective solutions available for those willing to think outside the box.

From tiny homes and co-living spaces to converted vans and manufactured homes, the possibilities for affordable living are endless. In this blog, we’ll explore 12 cheap housing options that offer both a place to live and a sense of community and sustainability.

So, if you’re looking to save money and simplify your life in 2024, keep reading for some inspiring ideas!

12 Cheap Housing Options for 2024

To help you build your lifestyle (and save you money in the long run), here are some of the inventive, economical, and cheap housing options for 2024.

1. Find roommates and cheap apartments with Roomi

If you’re looking for affordable living options, consider renting a room and co-living with someone. It’s generally cheaper than renting an apartment on your own or buying a home. Plus, utilities are often included in rentals, and you can easily reduce costs with roommates.

Roomi is the best tool to look for cheap housing options and perfect roommates. The app can connect you to other renters looking for roommates and affordable rooms around the globe. It’s also user-friendly and has various filters to narrow down your search easily.

Source: Roomi

To match you with roommates, you can input a minimum and maximum age, have Roomi show ID-verified listings only, choose the gender and input your maximum budget and lifestyle. To find the perfect room, you have the option to include the duration of your stay, kind of apartment layout, type of property, number of bedrooms, and popular amenities.

Overall, Roomi is safe, guarantees your privacy, and has no monthly subscription fees. And, signing up from any city on Roomi is completely free.

2. Earth Berm

Earth berm, or earth-sheltered home, is one of the cheap housing options that weren’t explored until recently. This concept centers around the insulation needed to keep everyone warm.

Source: Flickr

This type of housing uses the earth as a thermal mass to decrease heat loss and maintain a consistent internal air temperature throughout the seasons. Earth sheltering’s popularity grew largely as a result of studies into energy saving in residential construction.

Originally intended as cave houses within a traditional environment, its progress via technology has resulted in the creation of personalized earth dwellings all over the world.

Renting a bedroom might make sense if you’re single. Bedrooms with their own outside door and private bathrooms are the best if you value your privacy. These are similar to efficiency apartments, although they usually cost less to rent.

3. Tiny Home

The tiny house lifestyle has recently hopped onto the trend of affordable living options. It’s affordable because of the minimal space it takes up. A tiny house only has around 400 to 600 sq ft of floor area, maximizing space and promoting low-cost and eco-friendly alternatives in the housing market.

Many people are drawn to it since it offers all the comforts of a regular-sized house with less square footage. The best part is that they can have all these luxuries for a fraction of the price. A tiny space might be less expensive if you live light and are orderly.

4. Free Spirit Sphere

The free spirit sphere home raises the bar for tiny houses to new heights. It’s essentially a spherical tree home that swings from the branches in the middle of a forest.

Source: Flickr

For an adventurous person seeking cheap housing options, this one is perfect. However, you can only rent the Free Spirit Sphere overnight or for some nights, and isn’t really the best option for living long-term.

Related: Studio vs 1 Bedroom: Which Apartment Type is the Best for You?

5. Earthship

Earthship homes are one of the cheap housing options that are also sustainable. It was first introduced in the 1970s with three goals:

  1. To utilize sustainable architecture or recycled materials;
  2. To rely on natural energy sources; and,
  3. To be easily built by a person who has no construction skills.

Source: Getty Images

It has a passive solar system, and the structure is made with upcycled and natural materials, such as earth-packed tires. With minimum building waste and an off-the-grid lifestyle, this is a terrific eco-friendly home that, if commercialized, could improve society.

This might be the home for you if you enjoy the notion of living a green lifestyle and owning something unique.

6. Silo Home

Silo homes fall under cheap housing options with a rustic charm. They may seem to be nothing more than plain old grain silos on the outside. But once inside, you’ll find that they’ve been converted into unique living spaces, often reaching several stories tall and keeping a surprisingly bright and airy feel.

Source: NewsTimes

They can be composed and built with a variety of materials, including wood, concrete, cast concrete, and steel panels. So, if you’re seeking a house that won’t break the bank but yet has an aesthetic appeal, you might find it in the design of a silo home.

Related: 10 Different Types of Apartments

7. Condominiums

Condominiums, or condos, are often less expensive than homes because they come with no land, making them one of the best cheap housing options. A condo can typically be purchased for half the price of a house.

Sure, you’d need to pay homeowner association (HOA) dues, rent, condo maintenance, and property taxes every month, but they’re still generally less expensive than standard homes or townhouses.

8. Manufactured houses

Consider buying a manufactured house instead if you don’t want to pay the price of a typical traditional house. Manufactured homes are a sort of prefabricated houses that are developed in factories and then transported to the desired location.

Source: Getty Images

They aren’t as cheap as some of the other alternatives on the list. But they’re much less expensive than the average house. For large families, manufactured housing is a wonderful low-cost solution.

Related: Modern Alternatives to Renting an Apartment in 2021

9. Buy a duplex or triplex

If you prefer conventional cheap housing options, purchase a duplex or triplex. You’d still have your personal living area and property like a regular home, but it will be less expensive than a traditional house.

On a multi-family property, you can find some excellent offers. Duplex homes have the advantage of allowing you to reside in one apartment while renting out the other. Additionally, the rental revenue can then be used to pay down the mortgage.

10. Live with Family

Living with your parents, or any family member is one of the best cheap housing options, even if it’s just temporary. When living with family, the least you can do is contribute to household expenses, buy your own food, and help with chores. But overall, you’ll be able to save a significant amount than renting an apartment or buying your own house.

11. RV

When it comes to inexpensive housing options, RVs are surely an option. An RV, or recreational vehicle, is like a home on wheels with a sleeping space for two to eight people, a kitchenette, and a small bathroom with a shower.

Source: Unsplash

It’s a cheap housing option that allows you to live and travel comfortably without spending much on accommodation and travel expenses. Moreover, you can always buy an older RV and remodel it over time if you don’t want to invest all in one go. Even if you don’t want to live there indefinitely, it might be a good interim solution until you can save enough money to find something more suitable.

Related: Living Alone For The First Time

12. Move to a cheaper city

Housing costs vary from city to city, and one cheap housing option is to move to a city that has a lower cost of living that fits your budget. Although you also have to consider the moving costs, from the moving van to packaging materials, if you’re able to find cheaper housing in another place, it can be more beneficial to move there in the long run.

What’s important is you have to effectively plan your relocation, fix your budget thoroughly, and do your research.

Browse affordable rentals on Roomi!

To Wrap Up

There are a variety of cheap housing options out there for you to explore. From small homes to dwellings on wheels, under the ground, and even hanging from trees, there’s something for everyone.

Source: Roomi

Especially for Roomi, finding cheap housing options is simple and easy. Roomi prioritizes safety and time by quickly matching you with the perfect roommate to share expenses with or the most affordable room to live comfortably in. Additionally, Roomi conducts background checks and ID verification for all its users to ensure that there aren’t any scammers or fraud happening in the app.

So, what are you waiting for? Download the app, take a chance, go along the road less traveled, and who knows what can happen? You might come up with a new living arrangement and extra money in your bank account.

If you’ve made your decision and are looking for cheap rentals, we’ve got you!

Try Roomi, the cheapest housing option in the market.