Apartment units around the country are getting pricier – and smaller. And apartments in Dallas-Fort Worth are no exception.
New apartments in the Metroplex are 4 to 8 percent smaller and 40 to 50 percent more expensive than they were a decade ago, according to a new report from nationwide apartment search website RENTCafe.com.
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The report found that the average rent for newly built apartments in the U.S. has increased 28 percent since 2008. In that same timeframe, apartments have become 5 percent smaller on average.
But several cities, including Lewisville, have seen an increase in average apartment size. The average unit size in Lewisville, regardless of year built, is 879 square feet. However, Plano actually takes the lead with average apartment size in Dallas-Fort Worth.
The average apartment in Plano is 940 square feet compared to 859 square feet in Fort Worth, 848 square feet in Irving, 837 square feet in Dallas and 818 square feet in Arlington. The national average is 882 square feet.
Detroit has experienced the most drastic reduction in apartment size over the past decade. The average new apartment is 720 square feet, a 27 percent decrease.
While all apartment floor plans have been shrinking across the country, studio apartments have been cut down the most, the study said. The average studio apartment is 514 square feet, 10 percent less than what it was in 2008.