Average square footage of Miami apartments increases again

Bigger apartments are back.

Why it matters: Developers nationwide are catering to people who want more space while they postpone house purchases or spend time working from home .

The big picture: The average U.S. apartment built in 2023 measured 916 square feet, a 27-square-foot rebound from the previous year, per a recent report from RentCafe , a rental listing website.

By the numbers: In Miami, the average apartment is 929 square feet, a 15% increase in the last decade, per the report.

• Last year, the average size of newer apartments in the city was 912 square feet .

Flashback: Apartment sizes shrank in 2022 to the smallest on average since at least 2014, according to the report.

• The downsizing came as strong rental demand spurred developers to pack more units into buildings, researchers say.

State of play: A flood of new, typically pricey apartments have been built in recent years.

• More two- and three-bedroom rentals hit the market last year, pushing up the national average size, but one-bedroom floor plans continue to dominate, RentCafe found.

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