New apartments in Austin are smaller than national average

New flats within the Austin space are getting smaller as different Texas cities, like Houston, Dallas and San Antonio, see their common sq. footage improve.

Why it issues: Residence sizes are shrinking nationally, a reversal within the rental market that noticed models get greater throughout the early a part of the work-from-home period.

By the numbers: The common measurement of a more recent Austin residence is 884 sq. ft, 0.3% smaller than the 2022 nationwide common of 887 sq. ft, per a brand new report from itemizing service RentCafe.

• In the meantime, different Texas cities are bucking that pattern, with new flats averaging 923 sq. ft in Houston, 901 sq. ft in San Antonio and 895 sq. ft in Dallas.

The large image: Nationwide, newly constructed flats in 2022 shed 30 sq. ft on common in comparison with 2021, per the report.

• That sharp lower was fueled partly by extra studios and one-bedroom flats getting into the market, researchers discovered, analyzing the 100 metro areas with essentially the most high-density buildings.

Flashback: In 2020 and 2021, demand for extra space resulted in bigger unit configurations, RentCafe analyst Adina Dragos tells Axios.

• “Quick ahead to 2022, the demand for extra flats prompted builders to accommodate extra models of their tasks,” Dragos says.

What we’re watching: Residences beneath development. Because the market retains fluctuating, their measurement may sign whether or not the pattern of smaller leases will stick.