Apartments are Shrinking. Would you want a Micro Apartment?

According to a new report from Bloomberg apartments across the U.S. are shrinking.  In fact newer construction apartments are being built at their smallest size since 2002.  In Atlanta, average apartment size has shrunk 7%.  Why is that?  Three factors, really.  One is that rents have been increasing so smaller apartments are more affordable.  Another is increasing urbanization,  People are wanting to live closer in to urban centers and those apartments will necessarily be smaller since there is limited space in the city.  Last is changing tastes and attitudes.  More people today (not just renters) are happy with a lifestyle that means smaller individual space as long as available amenities nearby are good.  This includes parks, bars and restaurants and public transportation.  We don’t usually cover apartments here at homesinatlanta but this is part of a trend we’re seeing in houses also. For the full report from Bloomberg click here.

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