My friends that live on the outside of town hold at least two shows a month, primarily all types of punk. They've had a metal show with great success and some rock shows as well.
Through letting bands crash at their place after shows they've developed a huge network of great bands who are willing to play in a basement (with PA) to 10-40 kids on a weekend. I've seen bands from Florida to France there.
Here's the facebook page:
The Dude Ranch - Concert Venue - London, ON | Facebook
I'm wondering if anywhere else in Canada or the US has this kind of thing going on. It's pretty cool to meet new people and hear good music for $5 with your own booze .
Unfortunately some people don't want to make the trek, even though there's a bus from downtown to the house. Other people also think it's a gay bar - and Dustin (organizer) says "So what if it is? Why would that stop you from seeing awesome bands for dirt cheap?".
I wish there was more stuff like this going on.
Our very first gig was essentially a house show, although it was really a house (in the middle of nowhere) that had been converted into a venue. It probably held about 100 people, had a pretty decent stage and a great PA with a dedicated control room. The following year, it was moved to a "proper" leased building.
There are still house shows around here, and mostly for punk and hardcore bands. Once in a while I hear someone mention having metal bands at a house show, but from what I gather, it's pretty rare.