Rep. Jason Chaffetz, R-Utah, who resigns from Congress at the end of the week, said Monday he believes members of the House and Senate should receive a $2,500 monthly housing allowance.

"I really do believe Congress would be much better served if there was a housing allowance for members of Congress," Chaffetz told The Hill in an interview. "In today's climate, nobody's going to suggest or vote for a pay raise. But you shouldn't have to be among the wealthiest of Americans to serve properly in Congress."

The former chairman of the House Oversight and Government Reform Committee is one of many members who opts to sleep in his Capitol Hill office when in Washington, D.C.

Chaffetz announced in April his decision to leave Congress and said he plans to pursue private-sector options after he leaves Friday.

In his interview with the Hill, Chaffetz suggested that finances may have played a part in his decision to step down. His son will be attending law school at the University of Virginia, and his older daughter goes to college in Utah. His younger daughter will head off to college in a few years.

"Washington, D.C., is one of the most expensive places in the world, and I flat-out can't afford a mortgage in Utah, kids in college and a second place here in Washington, D.C.," the Utah Republican said. "I think a $2,500 housing allowance would be appropriate and a real help to have at least a decent quality of life in Washington if you're going to expect people to spend hundreds of nights a year here."

"There are dozens upon dozens of members living in their offices, and I don't know how healthy that is long term," he said.

Members of Congress get paid $174,000 per year, which Chaffetz said is a "handsome" salary, but Chaffetz said providing lawmakers with a housing stipend in the Washington, D.C.-area would save the taxpayers money.

With an apartment or home in Washington, the Utah Republican said he wouldn't need to fly home every week, which taxpayers pay for, and Chaffetz said his wife, Julie, could visit him more often.

It "would allow the non-millionaires to participate and you would be able to have your spouse join you here," Chaffetz said. "If I wasn't buying as many airline tickets, it would ultimately be less expensive."

The monthly $2,500 housing allowance would cost taxpayers $16 million per year for all 535 members of the House and Senate.