Shrinkflation is not just for products in supermarkets, but it has crept into the housing market as well. A new report from RentCafe indicates that all across the country, new apartments are getting tinier, decreasing by 54 square feet in the past 10 years. Seattle tops the list of shrinking living quarters, with an average new unit size of just 659 square feet.
One of the main reasons for Seattle’s shrinkage is a record amount of studio and one-bedroom apartments entering the market. A whopping 82% of new units are either studio or one-bedroom, compared to the nationwide average of 57%. In addition, Seattle’s tiny studio apartments have gotten even smaller, measuring 381 square feet, or about the size of a two-car garage.
Seattle is not the only Pacific Northwest city to see a substantial decline in apartment sizes. Portland, OR ranks second in the country with units averaging 681 square feet, 9% smaller than 10 years ago.
The post RentCafe: New Apartments in Seattle are Smallest in the U.S. appeared first on Connect CRE.
Shrinkflation is not just for products in supermarkets, but it has crept into the housing market as well. A new report from RentCafe indicates that all across the country, new apartments are getting tinier, decreasing by 54 square feet in the past 10 years. Seattle tops the list of shrinking living quarters, with an average …
The post RentCafe: New Apartments in Seattle are Smallest in the U.S. appeared first on Connect CRE.
Robert Khodadadian has long had a simple philosophy about selling real estate. There are approximately a million buildings in the city, and the broker that gets to sell any one among the multitude that will hit the auctioning block at a given moment is, sometimes, simply the person who happens to pitch their services to the right seller.
robert khodadadian, skyline properties, commercial real estate, off market real estate, daniel shirazi, real estate investment, new york real estate,