The rent is too darn high, and its hard to catch a break.
The same can be said about paying the mortgage each month.
Still, youve got to have a roof over your head.
Jillian Warwick, center, saves about $600 a month by renting a room at a coliving space. Chris Zuppa/The Penny Hoarder
Here are six alternative housing options with the potential to significantly cut costs while keeping you comfortably sheltered.
Coliving
Imagine living with a bunch of strangers for the sake of saving money on housing.
But coliving can also be found outside major metropolitan cores, such asJersey CityandNaples, Florida.
No Interest Til Almost 2027?
She paid $600 in a city where rent on a studio apartment couldve exceeded $1,200.
Jillian Warwick moved into a St. Petersburg, Florida,coliving spacethis summer.
She pays $600 in a city where rent on a studio apartment can exceed $1,200.
Tiny homes, in comparison, are typically less than a quarter of that size.
Though the living space is smaller, the potential to save is larger.
Joel Weberbuilt his own tiny home while in college.
RV
Experience a nomadic lifestyle by living in an RV.
Cortni Armstrong ended up moving to an RV in 2014.
Her living situation was the catalyst to a new career:renovating and flipping RVs.
It can also be less expensive than an RV.
Off Grid
Ever want to distant yourself from the constructs of modern society?
Off-grid living is an alternative housing option that requires you to be self-sustaining.
You rely on independent power and water sources rather than municipal services.
You grow or hunt your food rather than shopping at a grocery store.
Tyler and Ashley Selden and their daughter Sydneymaintain an off-grid lifestyle in Alaska.
Theirhouse-hacking arrangementinvolved renting one unit out and having Airbnb guests in the other, which covered the mortgage.
House hacking is also possible without living in a multiunit property.
Kristine Dowhanbecame an Airbnb host, listing three bedrooms of her four-bedroom home to afford her mortgage.
John Potterrented out a tent in his backyardon Airbnb.
Talk about thinking outside the box!
Nicole Dow is a senior writer at The Penny Hoarder.
Freelancer Dennis Lynch contributed to this report.
Probably not as good as youd like.
It always seems like an uphill battle to build (and keep) a decent amount in savings.
But what if your car breaks down, or you have a sudden medical bill?
Ask one of these companies to help…
