#United States #California #Modular Housing #BOXABL #Casita

Boxabl Unveils 2-Bedroom Casitato Address Growing Housing Needs

Boxabl, a prominent name in the modular housing sector, has announced a significant milestone with the approval of its new 2-bedroom Casita model, now compliant with California's rigorous building laws. This innovative home measures 722 square feet, representing a substantial expansion from Boxabl's original 361 square-foot Studio Casita. As housing demands evolve, this development caters to families and multigenerational households seeking spacious and functional living solutions.

The 2-Bedroom Casita: A Closer Look

Designed with modern living in mind, the new Casita features two bedrooms, closets for storage, and a contemporary kitchen equipped with energy-efficient appliances. Its spacious living area is an inviting space for families or potential rental tenants, offering comfort without sacrificing privacy. Notably, the Casita's foldable design allows for quick and efficient transport, facilitating rapid onsite assembly that can be completed in weeks rather than months.

With competitive pricing, the 2-bedroom Casita embodies Boxabl's mission to make high-quality housing more accessible to all. As Martin Costas, Boxabl's CFO, put it, "Our original Studio Casita has been a game-changer for compact, efficient living, but we've listened closely to market demands for larger options, and the 2-Bedroom Casita is our answer."

The Importance of Modular Housing in California

The urgency for larger accessory dwelling units (ADUs) in California is underscored by the state's housing crisis. Current estimates indicate a shortfall of over 1.2 million housing units in California, with ADUs emerging as a vital solution to expand housing availability without unnecessary urban sprawl. As noted, the ADU market is projected to surpass $7 billion by the end of 2025, with a growth rate of approximately 9.19% annually through 2034.

Data from 2023 shows that ADUs made up around 20% of all new home constructions, highlighting their rising prominence. In that year alone, 26,924 permits for ADU constructions were issued, translating to 23,000 completed units — roughly 32% of the total nationwide. Furthermore, properties featuring ADUs boast median appraised values that are 48% higher than those without, showcasing their financial merits.

In today's housing market, nearly 49% of California homeowners are actively considering ADUs for various purposes, such as generating rental income or accommodating family members. Boxabl's modular designs appeal to about 33% of these homeowners, who favor their quick deployment and significant cost savings over traditional construction methods. While smaller studios remain popular, the increasing preference for larger units signifies a shift in what potential renters and buyers are seeking.

The average size of ADUs has expanded to 600-1,200 square feet, with two-bedroom models being highly sought after, particularly to cater for families or housemates. This growing trend is reflected in the significant demand for larger units, which deliver superior rental yields—potential earnings of up to $3,000 per month for the new 2-Bedroom Casita compared to approximately $1,500 for smaller studio units.

As the global modular construction market continues its expansion, forecasted to grow from $103.55 billion in 2024 to $162.42 billion by 2030, the demand for prefab solutions is rapidly increasing due to ongoing labor shortages and sustainability imperatives. In California, over 65% of municipalities are now supportive of ADUs, indicating a positive trend towards the acceptance and integration of modular housing in urban planning.

Conclusion

Martin Costas emphasizes the significance of Boxabl's new offering: "With housing costs burdening millions of U.S. households, and California at the forefront of this crisis, our larger modular ADUs are essential. We're geared up to partner with cities and lenders to expedite production and meet the need for efficient, affordable housing solutions."

For those interested in exploring Boxabl's offerings, additional information can be found on their website, www.boxabl.com, or by reaching out directly to inquire about their innovative housing solutions. Boxabl Inc. is committed to transforming the residential landscape with its patented, foldable homes, built to enhance accessibility, affordability, and sustainability in the housing sector.