With the right layout and furniture, you may be surprised at just how comfortable and cozy it is to live within 400 square feet.
Dave Zook has been helping the Pennsylvania-based Zook Cabins build tiny homes since 2006, but claimed the market’s seen a real demand boom over the last 10 years.
"We're seeing consumer demand, we're seeing short-term rental demand, we're seeing RV park demand," Zook told FOX Business’ Jeff Flock in an appearance on "Mornings with Maria" Wednesday. "So [there’s] a number of different uses, and consumers are loving it."
According to a March study from TechNavio, the global tiny homes market is expected to grow by $4.17 billion from 2022 to 2027. North America has been estimated to account for 57% of worldwide demand.
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One of Zook’s 400-square-foot homes can fit a full-size bed, work desk, flat-screen TV, loveseat couch, mini fridge and microwave.
"It's livable. You can live in these things and you can vacation in these things," Zook said. "It sort of started with the rustic designs, and then it sort of developed into a more modern [style]. And again, we've sort of let the customer tell us what they wanted."
The Zook Cabins marketing manager clarified that tiny houses aren’t built to operate or transport like mobile homes.
"It's not like an RV, like a motorhome or a trailer," he explained. "It's made to be put in place and stay in place, although you can move them. But you can put them on a foundation, you can keep it right on a trailer and you can build a nice creative deck around it to where you can really hang out outside."
Tiny homes also saw big business throughout the COVID-19 pandemic, as nearly 40 percent of people living in urban areas said they considered leaving for a less crowded area, according to a survey of 2,050 U.S. adults in a Harris Poll.
Additionally, a HomeAdvisor survey conducted in 2022 indicated that nine out of ten Americans would consider living in a tiny home, and 31% would actually buy one.
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"It has [exploded] over the last decade, and especially over the last two or three years. You had the whole spring of 2020 when people quit moving or quit vacationing offshore, and started doing a lot more domestic travel," Zook said. "And this has really fed into that really well."
Backyard tiny homes and cottages can range in price from $40,000 to more than $200,000 depending on the size, number of rooms, and amenities, FOX Business previously reported. And on the more affordable side, tiny homes can cost $25,000 including finishing costs.
FOX Business’ Jeanette Settembre contributed to this report.
