The average size of new apartments in the U.S. saw substantial growth in 2023, bouncing back to 916 sf after a steep decline the previous year. That is according to a recent RentCafe market insight report released this month.
The growth in average apartment size can be attributed to the influx of two- and three-bedroom units coming on the market. In cities like Jacksonville and Orlando, Fla., large apartments lead the pack, while metros like Seattle, Wash., lead the top 100 metros in smallest unit sizes.
10 Year History of Average Apartment Size Changes
For the past 10 years, the average size of multifamily housing units have been steadily shrinking. This is driven by one-bedroom apartments that dominate the landscape, comprising nearly half (48%) of all apartments built in 2023.
![Recent uptick in average apartment size graph](/sites/default/files/inline-images/Screen%20Shot%202024-06-04%20at%2012.23.19%20PM.png)
Studio apartments have shrunk by 54 sf over the last decade. One-bedroom unit sizes have decreased by 7 sf over the last ten years—a trend we’re familiar with seeing—to an average of 733 sf in 2023.
RELATED: Average size of new apartments dropped sharply in 2022
On the other hand, two- and three-bedroom units continue to grow in size on a 10-year average. Two-bedroom apartment sizes rose seven sf last year, reaching 1,099 sf. Three-bedroom units dipped to an average size of 1,347 sf in 2023, but are still 19 sf larger than they were ten years ago.
![Average size of new apartments by unit type](/sites/default/files/inline-images/Screen%20Shot%202024-06-04%20at%2012.30.55%20PM.png)
Average Apartment Size by Region in 2023
Which cities have grown to become home to the largest apartments? According to the report, sunbelt destinations cater best to renters looking for spacious living. The top state? Florida.
Top 10 Cities With Largest Size of New Apartments
- Gainesville, Fla., boasts an average new apartment size of 1,173 sf. This is a 10-year percentage increase of 19.7%—the largest increase of all top 10 metropolitan areas.
- Tallahassee, Fla., has an average new apartment size of 1,159 sf in 2023. This marks a 10-year increase of 15.4%.
- Baton Rouge, La., increased its apartment size average to 1,068 sf, a 17.6% increase over the last decade.
- Knoxville, Tenn., has an average apartment size of 1,057 sf in 2023. This is 18.1% greater than its apartment size average ten years ago.
- Marietta, Ga., while having the lowest growth of the top ten metros, saw its average unit sizes increase to 1,055 sf. This is a 2.9% growth over the last 10 years.
- Lubbock, Texas, has grown its average apartment size to 1,037 sf last year. This is a 10-year increase of 17.3%.
- Greensboro, N.C., increased its units to an average of 1,035 sf, a 13.2% increase over a ten year period.
- Henderson, Nev., grew its apartment size to 1,021 sf, an 8% increase over the last decade.
- Columbia, S.C., has an average unit size of 1,019 sf, a mere 3.7% growth since 2014.
- Louisville, Ky., has reached an average apartment size of 1,017 sf. This size is 15% greater than it was ten years ago for the metro.
![Average apartment size 2023 across U.S.](/sites/default/files/inline-images/Screen%20Shot%202024-06-04%20at%2012.55.21%20PM.png)
Click here to read the full RentCafe report: National Apartment Size Rebounds as More 2- & 3-Bedroom Rentals Are Built
Related Stories
MFPRO+ News | Aug 14, 2024
Report outlines how Atlanta can collaborate with private sector to spur more housing construction
A report by an Urban Land Institute’s Advisory Services panel, commissioned by the city’s housing authority, Atlanta Housing (AH), offered ways the city could collaborate with developers to spur more housing construction.
Modular Building | Aug 13, 2024
Strategies for attainable housing design with modular construction
Urban, market-rate housing that lower-income workers can actually afford is one of our country’s biggest needs. For multifamily designers, this challenge presents several opportunities for creating housing that workers can afford on their salaries.
MFPRO+ Research | Aug 9, 2024
Apartment completions to surpass 500,000 for first time ever
While the U.S. continues to maintain a steady pace of delivering new apartments, this year will be one for the record books.
Affordable Housing | Aug 7, 2024
The future of affordable housing may be modular, AI-driven, and made of mushrooms
Demolished in 1989, The Phoenix Ironworks Steel Factory left a five-acre hole in West Oakland, Calif. After sitting vacant for nearly three decades, the site will soon become utilized again in the form of 316 affordable housing units.
MFPRO+ News | Aug 1, 2024
Canada tries massive incentive program to spur new multifamily housing construction
Canada has taken the unprecedented step of offering billions in infrastructure funds to communities in return for eliminating single-family housing zoning.
MFPRO+ News | Jul 24, 2024
Most popular cities for renters mid-2024
Rental activity in the U.S. continues to grow halfway through 2024. With the work-from-home boom stabilizing, more renters are eying desirable cities to relocate to.
MFPRO+ New Projects | Jul 10, 2024
3 noteworthy multifamily projects for July 2024
These three multifamily projects on our radar include an artist-inspired complex, seven-acres of senior housing, and a budget-conscious rental community.
MFPRO+ News | Jul 8, 2024
Boston receives 304 new market-rate and affordable housing units
The Smith No. 99 in Boston, Mass., is a new 305,000-sf mixed-use apartment community featuring 304 market rate and affordable housing units.
MFPRO+ New Projects | Jun 27, 2024
Chicago’s long-vacant Spire site will be home to a two-tower residential development
In downtown Chicago, the site of the planned Chicago Spire, at the confluence of Lake Michigan and the Chicago River, has sat vacant since construction ceased in the wake of the Great Recession. In the next few years, the site will be home to a new two-tower residential development, 400 Lake Shore.
Apartments | Jun 25, 2024
10 hardest places to find an apartment in 2024
The challenge of finding an available rental continues to increase for Americans nation-wide. On average, there are eight prospective tenants vying for the same vacant apartment.