The cost of buying a home is on the rise. In the last 10 years alone, prices have increased in almost every major U.S. city, according to home investment company Unison's 2018 Home Affordability Report.
In New York City, prospective buyers may need to earn an annual salary of $418,482 to afford a place, given a 10 percent down payment. Even in more affordable cities, such as Portland, Oregon, residents need to earn $107,692 per year to afford to buy, according to Unison.
But for those willing to get inventive, there are numerous ways to significantly decrease on your housing expenses. CNBC Make It rounded up five innovative ways to cut back, from living in a trailer to biking to work.
Of course, some hacks aren't for everyone. But here's to being creative.