Off-grid living is quickly becoming a significant trend in the real estate market, driven by an increasing desire for self-sufficiency and a simpler lifestyle. This way of life, once popular with niche groups like preppers and environmentalists, has gained broader appeal since the COVID-19 pandemic. As more people seek to disconnect from the hustle and bustle of urban life, off-grid living has captured the interest of a wide range of individuals, including remote workers, young families, and those looking for more space and sustainability.
The growing interest in rural properties is evident in the rising number of rural mortgage applications. Broker Theresa Lunn, based in Montana, has seen a sharp increase in clients looking for rural homes with the intent of pursuing homesteading—a lifestyle that involves growing food, generating renewable energy, and reducing waste. As people become more concerned with sustainability and self-reliance, many are turning to rural areas where they can live off the grid and create a more independent lifestyle.
A report from Fannie Mae in 2024 revealed that rural mortgage applications have surged by 80% since 2020. This jump can be attributed to a variety of factors, including the COVID-19 pandemic’s role in reshaping how people view work and lifestyle. With remote work becoming more common and many companies offering flexible work arrangements, more individuals are no longer tethered to urban areas for their jobs. This has opened up opportunities for those who seek to live in less populated regions while still maintaining their careers. Rural properties offer more land, privacy, and opportunities for self-sufficiency, making them an appealing choice for those looking to step away from the high cost of living in cities.
Read Also: https://lanewsdaily.com/surge-in-rural-mortgage-applications-reflects-off-grid-living-trend/
Despite the significant rise in rural property prices—up 64% since 2019, compared to a 42% increase in metro areas—rural homes still remain more affordable than their urban counterparts. This affordability is a major selling point for many people, especially when considering the high cost of living in many metropolitan regions. With high-speed internet becoming more widely available, remote work has become easier to maintain from almost anywhere, including rural locations. As remote work continues to grow in popularity, many individuals and families are finding that they can live comfortably in rural areas while still maintaining access to the resources and connectivity needed for their jobs.
Moreover, the rising interest rates that have made mortgages more expensive in urban areas have further driven the trend toward rural living. In many cases, people find that they can get more for their money in rural areas—whether it’s a larger property, more space, or the opportunity to build their own energy-efficient homes. For some, the appeal of living off the grid is not just about financial savings but also about making a positive environmental impact and living in a way that aligns with their personal values.
While off-grid living and homesteading have always been appealing to a certain segment of the population, the trend is now entering the mainstream. As more people seek sustainability and independence in their daily lives, the popularity of rural properties is expected to continue rising. The desire to live in harmony with nature, create a sustainable lifestyle, and escape the stresses of urban living are powerful motivators, and the COVID-19 pandemic has accelerated this shift in priorities.
As rural areas continue to attract more individuals and families, the long-term implications for the real estate market are becoming clearer. The shift toward off-grid living represents a fundamental change in how people approach housing and lifestyle choices, and it’s a trend that’s likely to grow in the coming years as more people discover the benefits of living outside the urban sprawl. For those interested in creating a simpler, more sustainable life, off-grid living offers a promising path forward, with rural properties providing the foundation for this new way of life.
