Over one billion people in the world live without adequate housing, according to a report by the World Resources Institute’s Ross Centre for Sustainable Cities. That means about one-seventh of the world population lacks one of the most basic means of survival.

It’s against this backdrop that New Story, a non-profit organisation, and Icon, a construction technology company, have partnered to create the world’s first 3D-printed home. The first permitted home in this format, it came up in March in Austin, Texas, USA.

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Far from being a tiny, cramped space, this 3D-printed house includes a living room, bedroom, a bathroom, a small office space and a porch. And it took less than 24 hours to build. The cost? Under $4,000. These are numbers that matter because of the purpose of these 3D-printed homes, which have been created specifically for the developing world.

As of now, Icon will be using the prototype 3D-printed home in Austin as an office to test practical use. It’s not the first company to print homes or buildings – there are prototype single-family dwellings that have been 3D-printed in China, Italy, Russia and Texas, while Dubai also has massive plans for 3D-printing buildings.