The size of an average house for a family of four sits at around 2,600 square feet; the technical definition of a tiny house is 400 square feet or less.

So if you're going tiny, you're getting – at most – just 16 percent of the space most are used to. That takes some adjusting.

But tiny living is environmentally friendly. "The housing market makes up 40 percent of carbon emissions," Johnston said. "You think about how many trees are being torn down and how many building materials are being wasted [on traditional large houses]."

For the environmentally conscious, that logic is reason enough to consider going small.

With strict zoning codes and complex regulations in Georgia, going rural is the best bet for tiny house success, where such strictures relax. Andrew Odom, writer of the blog Tinyr(E)volution, estimates that 70 percent of the tiny houses located in Georgia are in rural communities, where restrictions are less limiting.

Many are drawn to the idea of a tiny house for the cost-saving benefits, but the reality isn't so simple: If you're using brand-new materials, you're looking at a starting cost of around $20,000 for a house on wheels.

If you want to build on a foundation, you're looking at even more expense. "It takes $25,000 just to develop the land," said Will Johnston, head of Tiny House Atlanta. "So you've got to take that into consideration."

Building isn't cheap – but bills and upkeep are significantly less than what you're probably used to paying. Johnston knows of some tiny house owners who manage to keep their home expenses down to a measly $500 a month.

And depending on the size of the tiny house, you could get done with cleaning your whole house in just 15 to 20 minutes.

“Right there, it reduces your stress,” Johnston said.