Could You Live In An Apartment No Bigger Than an RV?

For the first time since the 1950's housing square footage is trending smaller due in part to costs of heating, cooling, maintenance, etc. One building trend, mini apartments (350 sf) with high end finishes and tall ceilings, are cropping up in places like Santa Monica. See article: "Mini-Apartments Catching on Among Renters Who Can't Pay Retail for Choice Neighborhoods" by Roger Vicent, c) 2010, Los Angeles Times distributed by McClatchy-Tribune Information Services

I think this is a trend to watch and here's why. Land costs continue to rise as do utility bills and other expenses while wages are lagging behind due to economic conditions. Many of today's families consist of one and a half to two people. These factors will tend to create demand for smaller residential spaces in the future for buyers as well as renters. I also see the 30-something crowd rejecting debt in large numbers, wanting to "live within their means" probably to include smaller, but well planned spaces ala Ikea style.

Have you visited an Ikea Department store? In addition to their showrooms of furniture, appliances, and housewares, they exhibit fully furnished, well planned living spaces in small square footage. It is inspirational to walk through them and see how creative one can be.

While 300 square foot dwellings may not appeal to the masses, 600 to 1,200 could become the new norm for homes as well as apartments.