Its Thursday, so its that time of the week to provide my Three Cents Worth as a post for Curbed. This week I discuss more or less why less is more.
To view post: Three Cents Worth: Less Is More?
Previous posts can be found here.
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Demographics are shifting on this one. Larger apartments gained relative price when the Baby Boomers were in the parenting phase. Now the parenting demographic is starting to shrink, and the empty-nest and youngster demographic grow, nationally.
Smaller units should cost more, all else equal, because of the higher cost of kitchens and bathrooms and the value of being in an area amortized over a smaller space.