The average size of new apartments dropped sharply in 2022, as tracked by RentCafe.
Across the U.S., the average new apartment size was 887 sf, down 30 sf from 2021, which was the largest year-over-year decrease, according to the apartment search service. It was also 54 sf less than the average size of a new apartment 10 years ago.
The drop in size can be attributed to more studios and one-bedroom apartments entering the market in 2022, reaching a historic share of 57%. Tallahassee, Fla., led the nation with the largest apartments, while Seattle’s apartment portfolio had the smallest-sized units.
Tracking the size of U.S. apartments, in six charts
“The post-pandemic apartment market has seen significant fluctuations from one year to another, including oscillations in the size of new apartments,” according to RentCafe. “From the need for more space in 2020 to the need for more homes in 2022, the rising demand for rentals is affecting the size of newly built apartments.”
Related Stories
Multifamily Housing | Aug 23, 2023
Constructing multifamily housing buildings to Passive House standards can be done at cost parity
All-electric multi-family Passive House projects can be built at the same cost or close to the same cost as conventionally designed buildings, according to a report by the Passive House Network. The report included a survey of 45 multi-family Passive House buildings in New York and Massachusetts in recent years.
Apartments | Aug 22, 2023
Key takeaways from RCLCO's 2023 apartment renter preferences study
Gregg Logan, Managing Director of real estate consulting firm RCLCO, reveals the highlights of RCLCO's new research study, “2023 Rental Consumer Preferences Report.” Logan speaks with BD+C's Robert Cassidy.
Adaptive Reuse | Aug 16, 2023
One of New York’s largest office-to-residential conversions kicks off soon
One of New York City’s largest office-to-residential conversions will soon be underway in lower Manhattan. 55 Broad Street, which served as the headquarters for Goldman Sachs from 1967 until 1983, will be reborn as a residence with 571 market rate apartments. The 30-story building will offer a wealth of amenities including a private club, wellness and fitness activities.
Sustainability | Aug 15, 2023
Carbon management platform offers free carbon emissions assessment for NYC buildings
nZero, developer of a real-time carbon accounting and management platform, is offering free carbon emissions assessments for buildings in New York City. The offer is intended to help building owners prepare for the city’s upcoming Local Law 97 reporting requirements and compliance. This law will soon assess monetary fines for buildings with emissions that are in non-compliance.
Sponsored | Multifamily Housing | Aug 15, 2023
Embracing Integrations: When Access Control Becomes Greater Than the Sum of Its Parts
Multifamily Housing | Aug 11, 2023
Hotels extend market reach with branded multifamily residences
The line separating hospitality and residential living keeps getting thinner. Multifamily developers are attracting renters and owners to their properties with hotel-like amenities and services. Post-COVID, more business travelers are building in extra days to their trips for leisure. Buildings that mix hotel rooms with for-sale or rental apartments are increasingly common.
MFPRO+ New Projects | Aug 10, 2023
Atlanta’s Old Fourth Ward gets a 21-story, 162-unit multifamily residential building
East of downtown Atlanta, a new residential building called Signal House will provide the city with 162 units ranging from one to three bedrooms. Located on the Atlanta BeltLine, a former railway corridor, the 21-story building is part of the latest phase of Ponce City Market, a onetime Sears building and now a mixed-use complex.
Senior Living Design | Aug 7, 2023
Putting 9 senior living market trends into perspective
Brad Perkins, FAIA, a veteran of more than four decades in the planning and design of senior living communities, looks at where the market is heading in the immediate future.
Multifamily Housing | Jul 31, 2023
6 multifamily housing projects win 2023 LEED Homes Awards
The 2023 LEED Homes Awards winners in the multifamily space represent green, LEED-certified buildings designed to provide clean indoor air and reduced energy consumption.
MFPRO+ New Projects | Jul 27, 2023
OMA, Beyer Blinder Belle design a pair of sculptural residential towers in Brooklyn
Eagle + West, composed of two sculptural residential towers with complementary shapes, have added 745 rental units to a post-industrial waterfront in Brooklyn, N.Y. Rising from a mixed-use podium on an expansive site, the towers include luxury penthouses on the top floors, numerous market rate rental units, and 30% of units designated for affordable housing.
