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Tiny Apartments and Condos Proliferate, Solve Affordability Problem, Business and Industry Trends Analysis

Apartment sizes are shrinking, with new apartments in San Francisco averaging 18% smaller than a decade ago, while units are 22% smaller in Boston, according to Axiometrics, Inc.  A number of urban areas in the U.S. are seeing the construction of micro-apartments, typically 300 square feet in size (about the size of a hotel room).  CoStar Group reported micro-apartment projects in cities such as San Francisco, Washington, Los Angeles, Boston, New York and Seattle.  U.S. rents for the tiny units are considerably less than for standard one-bedroom units, making them attractive to Generation Y renters who are moving out of…

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