Micro apartments are one of the latest trends in real estate, but are these tiny dwellings a lifestyle that’s right for you?
While some cities will classify a micro apartment as anything under 500 square feet, most micro apartments are usually 300 sq. ft. or smaller. Typically, there are no separate rooms for the kitchen and bedroom, and many will share a communal outdoor space. While living in the tiny space requires an adjustment, there are many advantages as well.
With tiny spaces to work with, micro apartment renters are coming up with creative ways to design their living space. In San Francisco, one recently finished micro apartment building includes a Murphy bed that folds away to reveal a dining table large enough to seat five. Shelving units go all the way to the ceiling to take advantage of every inch of storage space that’s available. While the kitchens have a dishwasher, refrigerator, and microwave, there are no ovens. Therefore, these renters are creative about their dining options as well.
Designers and developers of micro apartments believe that young singles will gladly give up living space in their apartments for affordability and the opportunity for more social space. With this idea in mind, developers in Washington, D.C. started building micro apartments with large lobbies and restaurants downstairs. These rentals are not for people who like to go home and stay in their apartments. Instead, they are for those who would rather spend money on socializing instead of rent.
Cities such as San Francisco and New York City are some of the best places to live. Unfortunately, these cities also have expensive housing markets. This means that many recent college graduates and others who are just starting out in the workforce and have little money to spare on rent, simply cannot afford to live in these high-priced cities.
Micro apartments offer a cheaper living alternative. These 20 and 30-something professionals can live close to work and friends without breaking the budget in rent. In Seattle, the average 250 sq. ft. micro apartment will rent for around $800 a month. For many, this is more affordable than the $1,400 a month that recently built studio apartments are costing.
For All Ages
While the 2012 census shows that 27.8 percent of all households in the United States are single-person, it’s not just young professionals who see the allure of micro apartments. Many seniors on a fixed income are also taking advantage of the savings in rent. For these seniors, their children have all grown up and left the house, and they no longer need a large residence anymore. Plus, some are simply not capable of the physical upkeep that a larger home requires. Micro apartments offer a cheaper and easier alternative for them.
Obviously, micro apartments are not for everyone. However, for those who are looking to save money on rent, and would prefer living near their place of employment or near nightlife, these small living spaces might be exactly what they need.