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Las Vegas 'tiny home' in big demand

Nevada Smaller is better in Las Vegas, where a walk-in closet-sized house is in high demand.

At 160 square feet, complete with washer dryer, stove, kitchen, fridge, shower and second floor bedroom – it’s cozy. And for $950 a month, a private yard is included.

Plenty of people are interested in renting the tiny house, including a family of four, according to the landlord.

“It's all bills included electricity, water, trash WiFi. Look around town now, really, it's hard to find a studio at that price point. Literally have 113 and counting people and it keeps ringing,” he shared with CNN.

The landlord built the home for $22,000.

Embracing the tiny house lifestyle is a way many are living with less to save more as interest rates remain at a 23-year high.

"It's in people's heart to want to save some money right now. You know, so this economy's tough. People are just wanting to own something versus having to be in debt forever."

The average rent in Las Vegas, which has the highest rate of evictions on the country, is $1,745, according to Zillow.

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