Richmond's new apartments are smaller and pricier than they were a decade ago

Bigger apartments are back, but not for Richmond.

Why it matters: The feeling that Richmond apartments are getting smaller yet more expensive isn't just in your head.

The big picture: In the past decade, the average new apartment in Richmond lost 41 square feet of floor space compared to units built before 2014, per a recent report from RentCafe , a rental listing website.

• That's more than Brooklyn and Queens in New York City, New Orleans and Charlotte.

Zoom in: Out of 100 cities that RentCafe analyzed, we're in the top 20 for having among the smallest new apartments (813 square feet).

• That's nearly 100 square feet less than the U.S. average for new apartments (916 square feet).

Yes, but: At least we have one more square foot under our belt compared to last year's numbers .

• And per Realtor.com , the median rent in Richmond as of May ($1,487) is still lower than the peak since March 2019 ($1,556).

State of play: Apartment sizes shrank in 2022 to the smallest on average since at least 2014, per the report.

• Researchers say downsizing happened as strong rental demand spurred developers to pack more units into buildings.
• But now, developers nationwide are catering to people who want more space while they postpone buying a home — except for the Richmond ones, apparently.

Sabrina's thought bubble: I'm reporting live from my one-bedroom apartment in the Fan that's a solid 500 square feet and feeling envious of our colleagues in Denver, where the average size of a new build-to-rent home is nearly 1,600 square feet.