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New 1-bedroom apartments get smaller, now under 900 feet
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FOX Business’ Grady Trimble reports on the White House’s efforts to restrict rent price hikes, among other efforts to protect renters.
New apartments in the U.S. saw their average square footage go down in 2022, a report from RentCafe said.
The real estate website found that new apartments’ sizes went down 30 square feet over a 12-month span, coming in at an average of 887 for 2022. Last year’s reduction in space marked the "sharpest drop in one year" and to some extent stemmed from studio and one-bedrooms seeing an increase in what proportion of the market they make up, according to RentCafe.
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In 2021, the nationwide average for new apartments was 917 square feet, the report said. The year prior to that was 913, and pre-pandemic 2019 averaged 910.
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