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The Incredible Shrinking Apartment - The New York Times

Category: Finance,Real Estate

It’s no secret that rents are on the rise, which means you get less space for the money. But if you’re feeling cramped, there may be another reason as well.

A recent study by RentCafe showed that the average size of a new rental apartment in the United States shrank more than 5 percent over the past decade, from 993 to 941 square feet. And the smallest apartments got even smaller: The average new studio shrank from 573 to 514 square feet, a decrease of more than 10 percent.

At the same time, the average rent went up, from $1,523 to $1,944 a month — an increase of nearly 28 percent.

So where did new apartments shrink the most? In these 10 metropolitan areas, where rents also increased substantially.

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