There’s Unmet Demand for Larger Units in Rental Housing

There are numerous initiatives focused on creating more affordable apartment units. Most of these initiatives are targeting the Millennials—those renters that are between the ages of 18 and 34 and single. These initiatives include “micro” units, which are sized generally below 400 sq. ft., and “adult dormitories,” a communal housing configuration akin to college dormitory experience. We are highly underserved by affordable housing units in the U.S., particularly in the larger coastal cities of New York, Boston, Washington DC, Los Angeles and San Francisco, so all initiatives to add more affordable housing supply should be applauded.