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Top 5 Cities Where Tiny Apartments Are Big — and How Much It Costs to Live There
Top 5 Cities Where Tiny Apartments Are Big — and How Much It Costs to Live There

Yahoo

time3 days ago

  • Business
  • Yahoo

Top 5 Cities Where Tiny Apartments Are Big — and How Much It Costs to Live There

As typical rent prices across the U.S. reach more than $2,000, many Americans struggle to find affordable rental housing, according to recent research from As new graduates seek apartments, it puts more upward pressure on rent prices. Read Next: Discover More: This spring, multifamily home rental prices have edged up by 0.7%, up to $1,849 for a typical apartment, wrote in its March Rent Report. The solution for many renters? Tiny apartments, or micro-housing. Developers are converting space in dying or defunct malls across the country into micro-apartments, like the ones at The Arcade, a historic mall building in Providence, Rhode Island. Similarly, the Lafayette Square Mall in Indianapolis is planning to open 1,200 apartments in a former Sears building in 2025, reported. But the biggest demand for tiny apartments is on the West Coast, according to a new study from San Francisco ranks the highest or available micro-units and also shows the biggest cost savings for renters who can cram themselves and their belongings in a space that maxes out at 415 feet. According to research, some tiny apartments in San Francisco measure as small as 124 square feet. If you're reading this from the comfort of a spacious, 3-bedroom suburban home, 124 square feet is just slightly larger than a 10′ x 12′ bedroom you might have in your house. Most micro-units have a maximum size of roughly 415 to 440 feet to be considered 'micro' by zoning laws. But you'll find outliers. For instance, the smallest of the tiny apartments are in Honolulu, Hawaii, where a unit must be under 348 square feet to be considered 'micro.' Let's take a look at 5 cities where micro-units make up more than 10% of the city's available rentals. City Avg. size of tiny apt. % of micro-units Avg. Rent for Micro-unit Savings compared to traditional apartment San Francisco 415 14.70% $1,888 $1,628 Seattle 405 12% $1,289 $1,099 Honolulu 348 11.60% $1,700 $562 Portland (OR) 408 10.70% $1,144 $635 Minneapolis 433 10.40% $1,078 $661 More From GOBankingRates Surprising Items People Are Stocking Up On Before Tariff Pains Hit: Is It Smart? 10 Unreliable SUVs To Stay Away From Buying This article originally appeared on Top 5 Cities Where Tiny Apartments Are Big — and How Much It Costs to Live There

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