The largest share of apartment dwellers, millennials prefer living in areas near eating places and entertainmentrather than having a large kitchen or lounge to cook or entertain at residence. But the rising curiosity in smaller living areas is equally motivated by price, as the necessity to save on lease sparks demand for smaller units. The average rent in newly-built apartments within the U.S. has elevated by 28% compared to 10 years ago, whereas their measurement has gotten 5% smaller.
Apartments in Detroit have suffered the most important cuts in size in the final ten years. The common size of a brand new house in Motor City in 2018 is 27% smaller than ten years in the past, 720 sqft right now compared to 988 sqft a decade in the past. New residences in-built Phoenix this 12 months are on average 871 sqft, 19% smaller than they were in 2008. … Read More
