Less is more: Philadelphia embraces tiny homes trend

The big picture: The micro-living trend is sweeping the U.S. with a steady doubling of units now compared to the 2000s, per the report.

• More young professionals, students and empty-nesters in the Philly region are embracing the "less is more" lifestyle with perks such as cheaper rent, smaller carbon footprints and easier access to city offerings.

Driving the news: Philadelphia is leading the pack in the Northeast, with about 6.5% of its apartments under construction considered to be micro units, per the report.

• The average tiny home maxes out around 423 square feet and costs $1,358. A conventional rental goes for $2,004.

Zoom out: Because of its high-density population and sky-high housing prices, San Francisco is the tiny home capital of the U.S., with about 15% of its housing stock considered micro units.

Yes, but: Philadelphia, which is in the top 10, is gaining traction.

What they're saying: Doug Ressler, manager at Yardi Matrix, which provided the data for the analysis, tells Axios he expects the trend will continue, especially in areas like Center City.

• "The demand is growing exponentially, and the cost of housing … and the supply of housing to buy has retreated."