It's time for apartment-size ping-pong. Last year, there was a drop. This year, the opposite.
Early in 2023, an analysis of Yardi Matrix data by its RentCafe site found that apartment sizes were shrinking. The average apartment size was 887 square feet in 2022 — a whole 54 square feet less than a decade ago and 30 square feet less than in 2021.
"Notably, last year's [2022's] decrease comes after the two pandemic years, 2020 and 2021, when the average size of new apartments actually increased," they wrote. "Once again, this confirmed the developers' quick response to the need for more space during the pandemic, as they adjusted floorplans in order to accommodate large enough configurations to fit a home office."
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