Average apartments in the U.S. are shrinking, according to RentCafe analysis of Yardi Matrix data.
The average size of new apartments in the U.S. in 2018 is 941 sq. ft., 5 percent smaller than 10 years ago. Seattle has the tiniest apartments in the country, with an average size of 711 sq. ft., Manhattan and Chicago the second smallest rentals, 733 sq. ft., while Tallahassee, Fla., offers the most largest rentals at 1,038 sq. ft.
According to RentCafe:
The largest share of apartment dwellers, millennials prefer living in locations close to restaurants and entertainment rather than having a large kitchen or living room to cook or entertain at home. But the rising interest in smaller living spaces is equally motivated by price, as the need to save on rent sparks demand for smaller units. Unfortunately, renters are paying much more for less. The average rent in newly-built apartments in the U.S. has increased by 28 percent compared to 10 years ago, while their size has gotten 5 percent smaller.
The following gallery provides a snapshot of the RentCafe’s analysis. It includes markets for which there is data from 2008 and 2018 and ranks markets by average current apartment size. For each market, changes in apartment size and average rents over the past decade is also included.