With more companies keeping a full or partial work-from-home setting, a new study has just been released showing apartments growing increasingly spacious. Rent Cafe partnered with Yardi Matrix to analyze buildings under construction in almost 100 cities to conduct the study.
It shows the average increase in apartment size in the locations that are already building larger units is 48 sq. ft. — just enough for a small home office. Experts confirm that the upsizing trend is linked to renters having to spend more time at home.
Charlotte is following the trend, as developers are building larger apartments now than they were between 2016-2020. Here’s how much larger:
- Apartments under construction here are 1,010 sq. ft. large on average. That’s 85 sq. ft. of extra space compared to the units built in the second half of the past decade.
- Moreover, apartments being built now in Charlotte are among the largest of all the cities we analyzed (8th in our list). This indicates not only that rentals here are upsizing, but also that they are among the most comfortable nationwide in terms of living space.
- A surprise within the list of cities with largest apartments being built is Morrisville. Of the cities analyzed, this small community came in 10th at 1,004 sq. ft., on average.
- Similar to Charlotte, apartments under construction in Burlington are also larger than units built between 2016-2020, by 35 sq. ft.
You can find the complete study here – https://www.rentcafe.com/blog/rental-market/apartment-size-increase-in-the-u-s/