When you need short-term housing, extended-stay hotels often come to mind. These hotels offer flexibility and convenience, making them an easy choice for people in transition. However, with average monthly costs reaching $2400 or more, they aren’t the most budget-friendly option—especially for those looking to save money or avoid unpredictable costs. Meanwhile, traditional rentals come with long-term leases, high deposits, and utility fees that often don’t align with temporary housing needs.
In the face of rising rents and a severe shortage of affordable housing, millions of Americans are searching for better alternatives. If you’re considering your options, here’s a guide to understanding the true cost of temporary housing and exploring alternatives.
The true cost of temporary housing
Temporary housing comes with a wide range of prices, amenities, and trade-offs. Extended-stay hotels are designed to meet the needs of travelers and those in transition by offering fully furnished rooms, WiFi, and kitchenettes. But at $600–$900 per week, these accommodations can quickly become unsustainable for stays longer than a few weeks. Costs also fluctuate based on demand, location, and season, which adds financial unpredictability for those already on a tight budget.
Other options, like short-term apartment rentals, offer a more traditional housing experience. However, these leases typically require large upfront payments, including deposits, first month’s rent, and utility setup fees. While budget motels may cost less, with monthly rates averaging around $1500, they often lack important amenities like laundry facilities or full kitchens, making them impractical for longer stays.
The median asking rent for traditional housing in the U.S. is now over $2000, and prices have risen 1.5 times faster than wages since 2019. With many Americans spending more than 30% of their income on housing, the need for truly affordable and flexible housing options has never been greater.
Affordable housing alternatives to consider
If extended-stay hotels aren’t the right fit, there are other options to consider depending on your circumstances:
- Short-term apartment rentals: These leases provide privacy and a home-like setting, often lasting three to six months. While they offer stability, upfront costs like deposits and utilities can exceed $3000, making them less accessible for those with limited savings or poor credit.
- Budget motels: Weekly rates make motels a cost-effective option for very short stays, averaging $1500 to $2000 per month. That said, amenities are often limited, and living conditions can vary widely depending on location.
- Emergency housing programs: Nonprofits and local government programs offer transitional housing for those experiencing financial hardship. While these can be a lifeline, they are typically income-based, have strict eligibility requirements, and may have limited availability.
Each of these alternatives has its own strengths and weaknesses, but they all fall short when it comes to balancing affordability, flexibility, and predictability. That’s where PadSplit comes in.
Why PadSplit could be your best option
PadSplit is a coliving platform that reimagines temporary housing by offering private, furnished rooms in shared homes. With weekly rates starting as low as $119, members pay an average of $663 per month—a fraction of the cost of extended-stay hotels. This all-inclusive price covers rent, utilities, and WiFi, making it easier to plan your budget without worrying about hidden fees or fluctuating rates.
PadSplit also offers flexible commitment options to suit your needs. When booking, you can choose the default 12-week commitment to secure the best weekly rates. Alternatively, if you need more immediate flexibility, you can pay a one-time Premium Flexibility Upgrade fee of $175 upfront to rent on a week-to-week basis from the start. After completing the initial 12-week period, all members automatically transition to a week-to-week arrangement without additional fees. These options allow you to tailor your stay based on your timeline and circumstances.
For many, this affordability and flexibility have been life-changing. Winston, a graphic designer in Atlanta, was previously spending $1800 a month on an extended-stay motel, only to face subpar living conditions. After switching to PadSplit, he cut his housing costs by more than half while enjoying a private, lockable room and shared spaces maintained with clear house rules. PadSplit gave Winston the financial relief he needed and a living situation that matched his needs and budget.
Beyond affordability: PadSplit’s unique benefits
PadSplit offers much more than affordability—it’s a path to financial stability and personal growth. One of its standout features is weekly credit reporting, which helps members build or improve their credit scores. In fact, 95% of members see an increase in their credit scores, a benefit that opens doors to long-term opportunities like financing a car or qualifying for future housing.
Members also save an average of $420 per month compared to traditional rentals. This freed-up income allows them to tackle debt, pursue personal goals, or simply achieve greater financial security. PadSplit further enhances its value by including free telemedicine services, helping members access healthcare when needed.
Operating in major metro areas like Atlanta, Miami, and Dallas, PadSplit ensures convenient housing options close to work, schools, and public transportation. All homes feature lockable rooms for privacy, and many properties offer professional cleaning services for shared spaces. By fostering a supportive and respectful environment, PadSplit creates a sense of stability and belonging for its members.
Finding the best housing solution
Temporary housing doesn’t have to mean high costs or instability. While extended-stay hotels and other options each have their place, PadSplit offers a better solution for those seeking affordable, flexible, and community-focused living. With fixed costs, privacy, and benefits like credit building, PadSplit empowers its members to save money, achieve financial stability, and transition smoothly to the next stage of their lives.
Explore available rooms today or use our savings calculator to see how much you could save. Take the first step toward affordable, flexible housing with PadSplit.
