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Changing Renter Demographics Create Demand for Larger Units

hamilton-zanze February 11, 2015

Architects and developers are seeing increased demand for bigger apartments as renters, such as Millennials and young professionals, continue to delay homeownership. In Q3 2014, the average size of units under construction was 1,183 square feet — up from 1,100 square feet in 2011. Industry experts say they expect average unit sizes to continue to increase in the coming years, although developers are not likely to abandon smaller units in expensive, dense cities.