- A 28-unit tiny home community is now open near Austin, Texas with a monthly rent of $1,375.
- Its founder said all of the 822-square-foot homes were claimed within two weeks.
- Tiny homes are increasingly used as an alternative to traditional housing.
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A city about 20 minutes north of Austin, Texas opened a new tiny home community in June. But unlike some of the pricey ones that have recently popped up, rent for these 28 units is capped at $1,375 a month.
This story is available exclusively to Business Insider subscribers. Become an Insider and start reading now. Have an account? Log in.As big tech companies like Apple and Tesla have flooded into the city, so have its high-earning employees. This gentrification has made Austin one of the least affordable cities in the US with the median home price doubling from 2011 to 2021.
In an effort to combat this booming housing cost, a local husband and wife decided to build what they say is Round Rock, Texas' first affordable tiny home community. Within two weeks of its completion, all 28 units were claimed.
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