Not only is demand for apartments growing, the big trend in multifamily is the microunit.
Cary Bruteig with Apartment Appraisers & Consultants says small units with lower monthly rents are all the rage, with apartments now measuring 200 to 250 square feet smaller than those seen in the early 2000s, Colorado Real Estate Journal reports.
Driving the trend is the demand for more apartment spaces, led in large part by millennials.
Now developers are working to create affordable housing options in vibrant, urban environments, offer residents a nice place to live in a new building for less than what they would pay for a studio or one-bedroom in a new Class A building.
You can read more in the Colorado Real Estate Journal.