Though they might seem like a downgrade from a single-family home, there are countless advantages to living in an apartment. They are often less expensive than houses, and they can be just as charming and cozy. Although they are typically smaller than houses, they are a much more efficient use of space than traditional single family houses. In densely populated areas such as New York City or Hong Kong, apartments are often the only housing option for the vast majority of people. However, rental rates have been on the rise across the country, with the median monthly asking rent for an unfurnished apartment amounting to nearly 1,500 U.S. dollars as of 2017, increasing by about 400 U.S. dollars in five years. In addition, the overwhelming majority of new rental apartments built in the United States are high-end rather than mid-range or affordable, pointing to potential issues with the provision of low-income housing. This share has increased from 52 percent in 2012 to 87 percent in 2018. Despite the increase in luxury apartments being constructed in the United States, the average size of newly built apartments has seen a slight decrease in the past decade.
Some of the nicest benefits of living in an apartment building are the amenities that would not come with a typical single family house. These could include laundry facilities, pools, parking garages, fitness centers, and so on. In New York City, an apartment building with a doorman typically raises the monthly rent by over 250 dollars. Some of the most common amenities across different U.S. cities are dishwashers, washer-dryer units, and swimming pools.
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In the following 4 chapters, you will quickly find the 22 most important statistics relating to "Apartments in the U.S.".