Diminutive Domiciles Surging In Cities

Posted by Staff Reporter on Aug 05, 2019 03:35 AM EDT
  • email
  • print
Diminutive Domiciles Surging In Citiesmore big
Diminutive Domiciles Surging In Cities (Photo : pexels)

It's no surprise big city life is increasingly favored by everyone from Millennials to empty-nesting Baby Boomers. That's helping make micro residential units increasingly popular options in cities from Seattle and Denver to Chicago, New York City and Miami.

These efficiently-sized and designed residences appeal to newly-minted college graduates "traveling light" who want to live in urban cores. They also lure a smaller cohort of older couples seeking a pied-a-terre near downtown eateries, museums, and nightlife. 

A study by the Urban Land Institute Multifamily Housing Council found the majority of micro-unit dwellers are professionals 30 or younger, with most of these under the age of 27. Micro units are more popular with males than females.

Residents are most often first-time renters who haven't acquired loads of furnishings and clothing and don't need as much living space and/or closets. Micro-unit residents often see their bitsy abodes as launch pads for their new careers, as well as for lives spent out in bistros and other gathering spots rather than home. Most transition within two years to larger units. 

Full Article

Get the Most Popular RealtyToday Stories in a Weekly Newsletter
RealtyToday Best Deals
Real Time Analytics