Apartments continue to shrink, rents continue to raise

The average new apartment in the U.S. is about 8% smaller than the average was a decade ago. And that shrinkage wasn’t confined to urban markets, either.

Those are two of the main findings in a recent survey of the apartment market, conducted RENTCafé, a nationwide apartment search website, using data provided by Yardi Matrix, a sister company that researches and reports on multifamily properties of 50 units or more across 121 markets in the U.S.