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Bad news for renters: Apartments are shrinking and getting more expensive

Feel like your apartment’s walls are creeping in on you? You may not be imagining it.

Since 2008, the average size of a newly-built rental apartment has shrunk by 52 square feet, or 5%, to 941 square feet, a new report from real-estate website RentCafe and data-analytics firm Yardi Matrix concluded.

New studios and one-bedroom units have shrunk in size even more in that time span, by 10.3% and 4.2% respectively, while two-bedroom apartments are slightly larger on average.

At the same time, new apartments have become much more expensive to rent — the average price has risen 28% over the last 10 years to $1,944.

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