Why micro apartments are a huge deal
Demand is strong for these affordable, trendy, teeny new digs, some about the size of a parking space. And in some locations, opposition is strong as well.
This post comes from MSN Money contributor Marilyn Lewis.
There's no middle ground when it comes to the matchbox-size apartments springing up in cities around the country. You love them or you hate them. They're tiny and cheap, and that's both the appeal and the problem.
Itty-bitty apartments with 150 to 300 square feet of total living space are a fast-growing trend in high-priced cities. A space 15 by 17 feet, for example, provides 255 square feet of living area. The biggest micros are 500 square feet. That's half the size of a two-car garage. High-priced custom homes often have closets vastly larger.
Demand for micro apartments is strong in cities such as Boston, New York, Montreal, San Diego, San Francisco and Seattle, where rents are rising fast. There, micro apartments constitute a new kind of affordable housing -- minus the government subsidies. (The photo shows a micro apartment unit in Boston.)
'Rip-offs' and 'firetraps'
Neighbor groups have sprung up all over Seattle to oppose micro housing. Irate opponents say they're firetraps and rip-offs for residents and cash cows for developers. Critics worry they'll attract transients and criminals. They object to the intense density and lack of on-street parking. The buildings are cheaply constructed and will become slumlike in time, ruining neighborhoods, others say.
One neighbor told The Stranger, a weekly Seattle newspaper:
"Anyone who can scrape up enough money to live month to month can live there," he said, worried that low-income interlopers would jeopardize his chances to sell his own house. "I don't think most people want to live next to a boarding house with itinerant people living in it."
In his neighborhood, a loophole in the permitting process let a developer apply for six townhouses but build, within each townhouse, as many as eight micro units of 150 to 200 square feet each. Each cluster of micros shares a kitchen. Instead of the six townhouses that neighbors were expecting, they were confronted with 46 tiny living units, each renting for about $500 a month.
As compelling as the arguments against the micro apartments sound, The Stranger's thoughtful exploration demolishes each as false or hysterical.
Life in a micro
Plenty of Americans are thrilled to get one of these teeny apartments. The Stranger caught up with residents who love life in their micro homes. One was Alex Tursi, 29, a contractor who does graphic design at Microsoft (Microsoft owns and publishes MSN Smart Spending):
He acknowledged it was small space, but "the sacrifice of the space is an equal trade-off to have my own spot," he said. His last home, with comparable rents in the neighborhood, was in a house "with people I found on Craigslist, and I lived with strangers, and one of them was just a nut."
New York is so taken by the micro movement that the Bloomberg administration held a design competition to encourage affordable micro dwellings. The Museum of the City New York is showcasing an exhibit of clever designs for 325-square-foot dwellings.
The need for cheaper housing is indisputable. "In downtown Boston, a one-bedroom of around 500 square feet can go for as much as $2,100 a month," The Atlantic writes.
Seattle is a leader in the micro movement. There, the average rent has risen 15% for a studio apartment (now at $991) and 21% for a one-bedroom ($1,230) in the past five years, The Stranger says.
Since 2006, Seattle has allowed construction of 48 buildings of micro apartments, each 125 to 200 square feet -- enough homes for about 2,300 people, USA Today says.
John Infranca, a research fellow at the Furman Center for Real Estate and Urban Policy at New York University Law School who is writing about the teeny apartment movement, told USA Today that demand is strong in many cities for single-person housing:
"People are getting married later, divorcing at a higher rate, delaying marriage for several reasons, or are older individuals outliving spouses," he said, adding that "on a square-foot basis, it's not affordable, but it's more affordable than other studio and one-bedroom apartments."
Solo households are a growing share of the population in industrialized countries, MSN Real Estate says. The Census counts 33 million Americans living alone. A quarter of all U.S. households are made up of just one person, The National Association of Realtors says.
"We have a shortfall now of 800,000, and it's only going to get worse,"New York Mayor Michael Bloomberg said at a recent news conference. "This is going to be a big problem for cities with young people."
Tenants are attracted by the new construction, lower prices and the chance to ditch their commutes and their housemates. They typically stay for around a year, one Seattle-area developer told USA today.
Judy Green, a senior who lives on a fixed income, told USA Today that she's happy in her tiny Seattle home:
"I can afford the rent. The unit is lovely and the building is attractive. It's nicely finished and it has large windows with lots of light. I'm comfortable with the size," she told council members recently. "There's people like me that live minimally and are happy with a place like this."
All in all, Americans may just have to get used to micro apartments. In crowded Asian cities they're already common. Stylish Tokyo, for example, leads the way in architecturally intriguing urban homes, says this ABC News video report. But it would be naive to think that all tiny housing is equally desirable, as this altogether different ABC News feature illustrates, with dramatic overhead photos of families squished together in tiny Hong Kong apartments.
More from Smart Spending:
- The craziest refi requirements ever
- Once-homeless family wins dream home
- Home-equity loans make quiet comeback
VIDEO ON MSN MONEY
sounds like the size of a college dorm room.
if you live light you can make that work no problem! anyone who goes to college would know this.
In Singapore where we recently visited, the government has subsidized apartments for low income folks and the few that are on welfare (which is a whole story itself). These apartments, for up to 2 people are 200 sq feet. A family of up to 5...400 sq feet.
Oh my Lord, these places rent for two to four times what my first house note with taxes and interest was. And it was 1800 sq feet. That means at today's prices it should rent for $3,200 to $6,200.
We are turning Japanese. They have long had like 300 sq foot houses for people to live in and even a couple of decades ago had these tiny three four high by 4 feet wide 7 feet long coffin rooms for rent about $900 dollars a month just big enough for a few clothes and a bed to sleep in and perhaps a small flat screen TV.
I guess we are going to get these coffin rooms ourselves soon and perhaps they will just bury us in them when the average age of the block gets to be 66 years. Make everything nice and neat.
Yes providing affordable housing is important. the problem becomes when there is an issue with power, or some type of emergency. 250 to 350 does not provide you with enough storage room to provide for yourself for the recommended 3-4 days. As stated in the article when your living area is smaller than the size that would be needed to house your car, there is a problem. Even if you ride a bike you still need room for that.
I know personally if it was just me that I had to worry about, I would be fine with that. But the reality is if you have someone over you need more room, or you just might as well live in a car.
one last note it reminds me the the 1972 Gensis song
"Get 'Em Out by Friday" is a rock epic on the 1972 album by British band ,
The song starts with a fast-paced refrain of Pebble ordering Hall to "Get 'em out by Friday". In the following verse, the Winkler tells a disbelieving Mrs Barrow that a firm of men has purchased her property and that she has been evicted. She refuses to leave, so Pebble raises the rent on the property. In lieu of this, the Winkler offers 400 for Mrs Barrow to move; she does, albeit grudgingly. However, shortly after Mrs Barrow moves in, Pebble again raises the rent.
A slow instrumental indicates a passage of time, taking the story to the year 2012. At this time, Genetic Control has announced that they are restricting the height of all humans to four feet. This piece of news is then discussed in a pub by a man named "Joe Everybody," who reveals the reason behind the restriction: so that Genetic Control, who has recently bought some properties, will be able to accommodate twice as many people in the same tower block.
I have lived in a 250 sq.ft and a 300 sq.ft. apodement or small apartment lol. I found there is plenty of room for a single man.
I had a futon, flat screen tv and a 40 inch flat screen tv plenty of room for me shower, refrigerator, and a microwave and i shared cooking area no big deal. You know they are comfortable and this was before they came popular lol. Some people don't realize a single person doesn't need a real big apartment (585 sq.ft up) nor do we need to pay what they ask for it lmao. Lets stop bitching about something that is going to happen if you need to bitch about it have them make a law they need to be 250 to 300 sq.ft.
Copyright © 2014 Microsoft. All rights reserved.
Fundamental company data and historical chart data provided by Morningstar Inc. Real-time index quotes and delayed quotes supplied by Morningstar Inc. Quotes delayed by up to 15 minutes, except where indicated otherwise. Fund summary, fund performance and dividend data provided by Morningstar Inc. Analyst recommendations provided by Zacks Investment Research. StockScouter data provided by Verus Analytics. IPO data provided by Hoover's Inc. Index membership data provided by Morningstar Inc.
MSN REAL ESTATE
Tired of your wallet taking a beating at the grocery store? Here are some creative ways to save big on food costs.
MUST-SEE ON MSN
- Video: Easy DIY smoked meats at home
A charcuterie master shares his process for cold-smoking meat at home.
- Jetpacks about to go mainstream
- Weird things covered by home insurance
- Bing: 70 percent of adults report 'digital eye strain'