Most developers have been leaning towards smaller units and added amenities as they try to attract millennials who want a more active lifestyle at their doorstep.
There are now real numbers to support this trend. RCLCO finds the average apartment unit size between 2010 to 2016 was 917 square feet. That was 7% smaller than the average size of apartment units from 2000 to 2009, which was 988 square feet.
The trend could also be a matter of affordability. As rents have risen almost twice as fast as wages, more renters can only afford smaller places.
RCLCO also found that the decrease could simply be most attributable to the increase in studio and one-bedrooms becoming available over two- and three-bedroom units - another shift likely for targeting young millennials.