The U.S. is short of 7.3 million homes for people with low incomes. But due to zoning laws, it’s hard to build anything other than single family homes. That’s why this tech startup created a way to repurpose traditional homes into shared living spaces — and it could solve the affordable housing crisis.

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The United States grapples with a staggering 7.3 million home shortage for lowincome people*, and the harsh reality that many fulltime workers cannot afford a onebedroom apartment in any American city. Despite significant government funding towards housing programs, these efforts have proven insufficient.

A breakthrough comes from entrepreneur Atticus LeBlanc's tech startup, PadSplit. Operating across 16 states, PadSplit’s solution is to make the existing supply of housing work better for more people. Converting singlefamily homes into shared living spaces allows new, affordable rental properties to pop up in major metro areas that are otherwise facing critical shortages.

This innovative approach is exemplified by Reggie, a fulltime student in Atlanta who enjoys affordable rent through PadSplit, significantly below the city average. Rent includes a fully furnished private space with utilities, internet, and laundry usage included. No longterm leases or security deposits are required. Bills are due each Friday, which is intentionally designed to help residents boost their credit scores by making consistent weekly payments.

PadSplit's 'one room at a time' philosophy offers a scalable, pragmatic solution to the housing crisis, emphasizing the private market's potential to address complex social challenges through innovative, incremental efforts.


*Source: National Low Income Housing Coalition https://nlihc.org/gap



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