Tuesday, February 28, 2023

Portland Apartments Shrank 19% Since 2012

Portland tied with Queens, New York for the smallest average apartment size in the country, according to nationwide apartment search website RentCafe. According to recent data, the average apartment size in Portland was 742 square feet in 2022 — a drop of 61 square feet (19%) over the last 10 years. 

The nationwide average dropped 54 square feet since 2012 to 887 square feet, falling 30 square feet year-over-year in 2022.

Last year's decrease comes after two years of growth in the average apartment size during the pandemic, which RentCafe attributes to developers' quick response to the need for more space during the pandemic and adjusting floorplans to accommodate home offices. 

In 2022, with the housing crisis in full swing nationwide, "more studios and one-bedroom apartments were finished in 2022 than ever before. In fact, the share of smaller units reached a historic high of 57% in 2022 — a significant change compared to 10 years ago, when they represented exactly half of apartments built."


Read more at RentCafe.com

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