Micro Apartments: Tiny studio apartments may be the next trend for the
multifamily sector.
Developers see the small apartments -- averaging about 380 square feet
-- as a big draw to urban-dwelling millennials as they break out to form
new households. Developers built about 1,000 micro units in 2013 and 2014 and about 2,200 more are under construction. Just like the overall rental market, rents for micro units are rising rapidly.
or proposed. Many of these
micro apartments are mostly centered in high-cost housing markets. Continuing to rent is not a great solution to the affordability problem, either. Mortgage Rates Drop Even Lower This Week (Interested in learning about mortgages? Check out our video.
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