America’s Typical Apartment Is Getting Smaller

The average size of an apartment in the United States has decreased by 3% from the previous year, and by 54 square feet over the past decade. According to RentCafe, the average size of new apartments was 887 square feet in 2022. The decline is attributed to higher demand for housing that prompted lower unit sizes, leading to more studios and one-bedroom apartments being built. During the lockdown-induced recession, developers made adjustments to floor plans to accommodate large enough configurations to fit a home office. Some metropolitan areas, such as Silver Spring, Maryland, saw a 15% decline in average square footage over the past decade, whereas cities like Tucson, Arizona, and Tallahassee, Florida saw 29% and 16% respective increases in average square footage. Average rental prices have increased 26% from $1,568 in December 2019 to $1,981 in December 2022, according to data from Zillow. The National Association of Realtors estimates that homebuilders should have constructed between 5.5 million and 6.8 million more houses over the past two decades to match current demand, highlighting the overall housing shortage in the country.