Florida Artist Lives in Warehouse Space As Rent Spikes

Travis Lermusiaux, a 32-year-old artist and guitar luthier living in Boca Raton, Florida, has an unusual living situation.

Like many Americans seeking a refuge from hefty housing and rent prices, Lermusiaux has taken the situation into his own hands.

He now lives in a warehouse, which allows him to save 75 percent of his income while still pursuing his passions.

"Real estate is slim, and it isn't cheap these days," Lermusiaux told Newsweek. "I found this space from a friend and was very lucky."

The trend is gaining momentum across the country as well, new reports indicate.

Half of Americans would live in a warehouse to save money due to the current housing market prices, according to a Zetwerk survey spanning 1,000 respondents. And 42 percent agreed they would live in a warehouse with zero windows if the rent was $300 or less.

Warehouses range in size, but with a little creativity, they can be made into spacious homes while saving residents money on rent.

"I do have a day job, and I'm not living like I'm homeless," Lermusiaux said. "I still have a 401k and a savings account. I just live a little different, and that is working for me right now."

Mortgage rates peaked at their highest in two decades last fall. This, combined with heightened home prices, made buying a home the most unaffordable in decades last fall.

And rent prices often aren't much better, either.

A new report from Harvard University's Joint Center for Housing Studies found half of all tenants spent more than 30 percent of their income on rent and utilities.

As costs to own or rent a home continue to skyrocket, Lermusiaux expects more Americans will likely try out the innovative home style.

"I think you will see a lot of people creating these alternatives to standard home living going forward due to the same hardships that we are all experiencing here in south Florida," Lermusiaux said.

Today, Los Angeles, Houston and Fort Worth have the highest number of warehouse listings for rent, and living inside these lofts does not have to hurt your wallet like many luxury apartments do.

In some cities, like Milwaukee and Detroit, you can score a warehouse for just $1,000 in monthly rent.

And considering how a warehouse can be split among roommates, that could wind you up with quite a low monthly payment.

"We found the average amount people were willing to pay for warehouse living was $878 per month," Merritt Ryan, a member of the creative team at Zetwerk, told Newsweek. "We didn't ask how much people are spending on other rental options, but this figure is relatively low compared to traditional housing options, reflecting the cost-saving potential of warehouse living.

Gen X and Baby Boomers were also some of the most likely to say they'd consider warehouse living, showing the nationwide affordable housing crisis is affecting more than just the young.

"This reflects broader economic realities faced by many Americans, such as escalating housing market prices driving people towards alternative housing solutions," Ryan said.

The one caveat to warehouse living is the difficulties that abound when looking at specific zoning laws, though.

"Without jurisdictional approvals, like getting a warehouse zoned for residential use, renting or leasing space to tenants in warehouses typically runs afoul of zoning ordinances and is a violation of housing and fire codes," David Roberson, principal at Silicon Valley Property Management Group, told Newsweek.

Since many warehouse spaces are not currently habitable, residents might have to put in the work to add in bathing facilities, heating and ventilation. They also might need to seek insurance expertise, as those living illegally in a warehouse could be injured and have indemnity claims filed against the landlord or property manager, Roberson said.

Alex Beene, a financial literacy instructor for the state of Tennessee, echoed this sentiment.

"Making some of these locations into full-time living spaces could break existing fire codes, not to mention provide liability concerns for owners who may be unaware of these differences," Beene told Newsweek. "Do your homework, because it's quite possible the warehouse owners may not have fully done theirs."

Even when Americans do opt for traditional homes, they might not be able to bypass the considerable number of repairs necessary to make a home livable, though, so warehouse living can still arrive as a preferable option.

"Most homes on the market right now are in desperate need of repairs or updates. Baby Boomers dominate the existing housing inventory and over half their homes were built in 1980 or earlier," Jon Bostock, the CEO of home improvement company Leaf Home, told Newsweek. "It's simply not an appealing market for a first-time homeowner."

For those who have made a warehouse apartment work, it might turn out to be the best option for saving money, and it can offer a more sustainable, minimalist lifestyle as well.

"Faced with economic constraints, individuals are reevaluating traditional norms and embracing unconventional solutions," Keisha Blair, an economist and the founder of the Institute on Holistic Wealth, told Newsweek. "Warehouse living, though unconventional, offers a pathway to traditional living."

If your warehouse is legal, permitted and up to code, searching for a warehouse in an industrial city or neighborhood just might be a way to shave off hundreds in your rent payments.

"Warehouse living comes with a more affordable price tag," Bostock said. "For many who dream of owning a home someday, it's a step above renting an apartment and a stepping-stone to eventual home ownership."