$1200 a month for a bunk bed in a shared space

$1200 a month for a bunk bed in a shared space

With the cost of rent continuing to rise, some Americans are taking unusual measures to find a place to sleep.

In Los Angeles and San Francisco, where prices are particularly exorbitant, people have taken to renting bunk beds in communal homes.

PodShare, which provides 10 to 15 co-ed bunkbeds in six locations across California, is hoping to help solve the affordable housing crisis.

The beds can be rented from $35 to $50 a night, which amounts to between $1,050 and $1500 for one month.

It’s no secret that housing prices have rapidly spiked over the last decade and incomes have not kept up

One 2018 study published found that only about one-third of millennials currently own homes.

This is fewer than the number of Generation Xers and baby boomers who owned homes when they were the same age.

And a study conducted by Harvard University this year found that one-in-three Americans can’t afford to pay rent.

It’s unsurprising considering that, in cities such as San Francisco, the average rent for an apartment is about $3,900.

But for $1,200, if you rent with PodShare everyone gets a bed that turns into a desk, individual power outlets, a locker, a shelf and a personal TV.

Each location also provides a communal living room, food such as cereal, toiletries such as toilet paper, laundry machines and WiFi access, reported ihealthblog.

Tenants are known as ‘pod-estrians’.

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