Highlights

• Kanye West is renting a smaller, more affordable apartment with his wife amid ongoing financial issues.
• The apartment they are renting is 1,820 square feet and costs $12,000 per month, potentially lower than the original listing price.
• Kanye has been experiencing financial problems, including the loss of his billionaire status, and has been selling off properties, including a dilapidated Miami mansion.

Kanye West may have been worth $1 billion at one point, but it appears the rapper is becoming accustomed to more humble accommodations nowadays, given a report that he’s renting a $12,000 mansion with his wife Bianca Censori.

The Sun recently secured photos of Kanye and Bianca at the Los Angeles apartment, which the outlet reports is only 1,820 square feet, much smaller in size that Kanye’s previous homes.

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A 2021 listing showed the apartment was available to rent for $12,000 per month, though The Sun explains this price could’ve gone down. There are more swanky units in the apartment complex, including some going for $20,000 a month.

"They have had this spot since earlier last year before they went traveling and have the kids there sometimes,” a source told the outlet. "It's simple but luxurious and they class it as their main residence in LA at the moment."

Kanye lost his billionaire status last year in the wake of his controversial behavior, including antisemitic remarks, which cost him huge partnerships, including his Adidas x Yeezy collab. He’s reportedly had a variety of financial problems since, including multiple lawsuit (like the $250 million defamation case filed by George Floyd’s family) as well as legal problems, like the police investigation he and Bianca sparked in Italy.

Kanye has been unloading a variety of properties in recent years as his financial problems wage on. Most recently, he enlisted the help of celebrity real estate agent Jason Oppenheimer to sell his $53 million dilapidated Miami mansion.

The estate is reportedly in poor condition, as Ye tried making it into a bomb shelter before giving up on the projects, reportedly due to his money problems. Even though it’s a stunning property, the unfinished renovations could make it hard to sell, or at least result in a financial loss for Kanye.

As the Miami mansion was created by Japanese architect Tadao Ando, Oppenheimer told PEOPLE it was a huge opportunity to take Kanye on as a client.

“I wanted to have a listing with such architectural pedigree,” he explained. “This architect is known for his concrete work, which is what remains. So it’s really going to be up to the new buyer to imagine the interiors that he or she wants. It was a very minimalist interior previously and will likely continue to be that in order to allow the architecture to speak louder than the finishes.”

While Kanye is reportedly working on a career comeback, he’s allegedly concerned about Bianca’s spending and how it’s affecting his net worth, which could explain the rapper’s cheaper choice of accommodation recently.