Sep
21

Average Apartment Unit Size Down 7% Since 2009

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cramped-roomApartment units in the top 20 U.S. metro areas are shrinking. Those built from 2010 to the present are, on average, 7% smaller (70 square feet) than those built from 2000 to 2009, according to real estate research company RCLCO.

Most of that change is attributed to the higher share of studio and one-bedroom apartments relative to larger, mutli-room units. Floorplans are shrinking as well, particularly among studio and one-bedroom units, with just how much dependent on the area of the country. Three-bedroom units, however, are increasing in all but the very high-cost markets.

To some degree, millennials are forcing the mix change to studios and one-bedrooms, according to Bloomberg, as they delay starting families, which reduces their need for space.

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Categories : National News

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