Apartments in Southeastern United States may be getting smaller, but rents are rising as vacancies are declining. In prime urban locations, such as Atlanta, Charlotte, Miami, and Orlando, it is not uncommon for tenants to sacrifice living space. In fact, the average apartment constructed today is 934 square feet. That makes them eight percent smaller than apartments built ten years ago.
In the last decade, studios saw the sharpest decline (eighteen percent) in overall square footage. The city with the largest rental units in the United States was Atlanta, Georgia.
Charlotte, Durham, and Raleigh, North Caroline, along with Jacksonville and Orlando, Florida, all making the top 20 cities to with the biggest apartment sizes.
“Southern living has become the epitome of the good life, and there’s more than one reason for that. Premier golf resorts, 24/7 waterfront entertainment, strong employment fundamentals, lower cost of living, and world-renowned cuisine – these are just a few of The South’s big draws. Plus, urban renters in the Southern States have one more thing to brag about: the biggest apartment sizes in the U.S. Rentals in the Southeast average a remarkable 974 sq. ft.,” according to an article in Rent Cafe.
As the construction of multi-family real estate took a temporary hiatus during the recession, very few units were delivered. Those that were put on the market were smaller.
Investors are now reaping the benefits of new construction as the market is in recovery mode and seeing growth again.
SWET Construction Group is an industry leader in the construction and renovation of multi-family housing, apartments, condominiums and commercial building throughout the Southeastern United States, offering cost-effective plans, fast and attractive flooring, interior design services, drywall, metal framing, paint and waterproofing.
The expert management team at SWET Construction Group is proud to provide cost competitive turnkey projects. All of our projects receive continuous supervision, customer satisfaction and attention to detail, from beginning to end.
Contact SWET Construction Group for your next project.
Happy Thanksgiving
Thanksgiving is a time of festive spirit, mouth watering meals and renewing ties with family and friends. It’s a great time to take a break from the hustle and bustle of life and reflect on what we’re thankful for.
The team at SWET Construction Group wants to take this opportunity to thank all of our friends and clients for their support!