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
Projects | Mar 18, 2022
Former department store transformed into 1 million sf mixed-use complex
Sibley Square, a giant mixed-use complex project that transformed a nearly derelict former department store was recently completed in Rochester, N.Y.
Multifamily Housing | Mar 15, 2022
Multifamily rents climbed 15.4 percent in one year
Multifamily asking rents picked up another $10 in February to reach a national average $1,628, and year-over-year growth recorded a 15.4 percent bump, according to the new Yardi Matrix Multifamily National Report.
Multifamily Housing | Mar 15, 2022
A 42-story tower envelops residents in Vancouver’s natural beauty
The city of Vancouver is world-renowned for the stunning nature that surrounds it: water, beaches, mountains. A 42-story tower, Fifteen Fifteen, will envelop residents in that natural beauty.
Multifamily Housing | Mar 15, 2022
Hermosa Village earns 2021 NAHB Best in American Living Award
Cadence McShane Construction Company received first place in this year's NAHB Best in American Living Award for its Hermosa Village project.
Projects | Mar 11, 2022
Suffolk completes construction of luxury condominium 2000 Ocean
The 38-story glass-encased tower along the beach on 1.3 acres is owned by KAR Properties and designed by TEN Arquitectos.
Projects | Mar 9, 2022
New 243-unit luxury apartment community opens in St. Paul, Minn.
Waterford Bay, a four-story, 243-unit luxury multifamily development recently opened in St. Paul, Minn.
Mass Timber | Mar 8, 2022
Heavy timber office and boutique residential building breaks ground in Austin
T3 Eastside, a heavy timber office and boutique residential building, recently broke ground in Austin, Texas.
Multifamily Housing | Mar 4, 2022
221,000 renters identify what they want in multifamily housing, post-Covid-19
Fresh data from the 2022 NMHC/Grace Hill Renter Preferences Survey shows how remote work is impacting renters' wants and needs in apartment developments.
Projects | Mar 2, 2022
Manufacturing plant gets second life as a mixed-use development
Wire Park, a mixed-use development being built near Athens, Ga., will feature 130 residential units plus 225,000 square feet of commercial, office, and retail space. About an hour east of downtown Atlanta, the 66-acre development also will boast expansive public greenspace.
Multifamily Housing | Feb 25, 2022
First set of multifamily properties achieve BREEAM certification in the U.S.
WashREIT says it has achieved certification on eight multifamily assets under BREEAM’s In-Use certification standard.
