In Silicon Valley, $1,200 a month gets you a bunk bed amid housing crunch

$1,200 for a bunk bed?

That's apparently what engineers, coders and other Silicon Valley workers are willing to spend, despite the fact that privacy isn't included in the cost.

For anyone willing to spend that much, a startup called PodShare has 220 beds, or pods, at six locations across Los Angeles and one in San Francisco.

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According to CNN Business, renters are given a bed, a locker, access to Wi-Fi, a personal shelf, a television and access to some basic food staples and toiletries.

$1,200 per month gets you a bunk bed in Los Angeles and San Francisco. (PodShare)

$1,200 per month gets you a bunk bed in Los Angeles and San Francisco. (PodShare) (PodShare)

In San Francisco, where Facebook, Uber and Twitter have offices, a recent report from Zumper put the median monthly rent for a one-bedroom apartment at $3,700. In San Jose, the average apartment studio rents for $2,000 as the city struggles with an escalating housing shortage.

By those standards, the rentable pods are a bargain.

The spaces also have communal kitchens, living rooms and work stations that can be used by anyone who is renting a pod.

Several young workers touted the benefits of living in those spaces, which are basically glorified hostels.

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Courtesy of PodShare

Courtesy of PodShare

"I had a micro studio that was $1,750 per month," Stephen Johnson, 27, told CNN Business. "It was less than 200 square feet. This is actually a luxury and costs less than the place that I lived a couple blocks down the street."

Johnson said he believes these rentable pods will be an option available to more people in the future.

Courtesy of PodShare

Courtesy of PodShare

Another PodShare renter said the location matters more than the lack of privacy.

"What does matter is if I'm in the right place and surrounded by the right people and if it is efficient," Rayyan Zahid, 23, said.

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