Rent Inflation: Shrinking Apartments and Rising Costs - The Reality Revealed!

In 2022 the average apartment size was eight hundred and eighty-seven square feet, which is a drop of fifty-four square feet from ten years ago and a drop of thirty square feet from the year before which is the steepest year-over-year drop in history, according to RentCafe.com. For further perspective, fifty-four square feet equates to a little more than half of a bedroom. In this case, inflation is hitting in two ways. First average rents are going up. Second, the apartment you're renting is getting smaller. Yes shrink inflation really is a thing.