By: RentCafe
The shrinkflation used to be most visible when it came to products on supermarket shelves, but it has crept into the housing market too. Renters all over America feel that apartments are getting tinier, and they got it right. According to RentCafe’s new analysis, the average size of newly built apartments has decreased by 54 square feet — from 941 square in 2013 to 887 in 2022.
In a surprising twist, Los Angeles has built larger apartments in the last 10 years, despite being known for having some of the most cramped apartments nationwide.
Here are some data points and a possible explanation for this contrast:
- Los Angeles renters get an extra 45 square feet of apartment space (just enough for that new desk) compared to 10 years prior.
- “One possible reason why new apartments got bigger in larger markets is the considerable share of more spacious 2- and 3-bedroom units being built — between 25% and 30%. Most of these apartments also fell under the definition of high-end, which implies larger unit configurations,” said Adina Dragos, research analyst with RentCafe.
- The increase in apartment size, however, was not enough to knock Los Angeles out from the list of cities with the smallest new apartments delivered in the last 10 years. The city ranks 12th with an average unit of 799 square feet, on par with cities like Chicago, Minneapolis or Jersey City. Seattle tops the list, offering renters just close to 660 square feet.
- Despite the upward trend of the last decade, future apartments in Los Angeles are going in the opposite direction. So far, units under construction have an average size of 629 square feet, the 3rd smallest number after Spokane (under 500 square feet) and San Francisco (under 600 square feet).
- Apartments in many California cities gained space in the last 10 years. For example, San Diego and Anaheim saw 5% and 6% upticks in apartment size. Historically, rentals here have always been more spacious than those in Los Angeles.
- Irvine is the only major SoCal city where apartment size declined. Renters here have to make do with 13 square feet less than 10 years prior. It might not seem like much, but the space could fit a desk, for example.
Here is our full report with more findings and interactive charts.
RentCafe.com is a nationwide apartment search website and a part of Yardi. Our original city-based research, insights, and in-depth analysis of the real estate market have been used in stories featured on major media publications across the U.S.
Photo source: Depositphotos
