Metro Detroit apartments smaller than U.S. average
If it feels like the walls are closing in around you, you might be right — apartment sizes have been shrinking.
Why it matters: Rentals are getting smaller nationally, a reversal from when units got bigger during the early part of the work-from-home era.
Zoom in: The average size of newer apartments in metro Detroit is 739 square feet — nearly 17% smaller than the 2022 national average of 887 square feet, per a new report from listing service RentCafe.
- Detroit ranks 96th for average size out of the 100 metro areas with the most high-density apartments.
Of note: At the local level, researchers considered new apartments as units built between 2013 and 2022.
The big picture: Nationwide, newly built apartments shed 30 square feet on average compared to 2021, per the report.
- That sharp decrease was fueled in part by more studios and one-bedroom apartments entering the market, researchers found.
- 57% of apartments completed last year across the U.S. were small units.
What we're watching: Apartments under construction. As the market keeps fluctuating postpandemic, their size could signal whether the trend of smaller rentals will stick.
More Detroit stories
No stories could be found
Get a free daily digest of the most important news in your backyard with Axios Detroit.