Should you move to a micro apartment in Portland, Oregon? Micro apartments are widely popular in large metropolitan cities. But now they are also seen in other smaller cities across the US. Developers have shifted their focus from bigger, lower-density apartments to smaller, higher-density ones that earn more money per square foot. This is due to rising land value and building expenses in cities.
Moreover, the desire to maintain affordable rent pricing compared to tenant wages has also promoted the growth of micro apartments. The consequence has been a surge in the development of micro studios Portland, Oregon. Today, we will talk about Portland micro apartments and what it is like living in one.
What Is a Micro Studio Portland?
Micro studio apartments are very tiny rental units. They are usually no bigger than 400 sq. ft. Micro studio apartments are supposed to provide a multi functional or flexible space for single occupants or a couple. These apartments require specialty convertible furniture and storage, such as moveable kitchen islands and sofas that convert into Murphy beds. In simple terms, a micro apartment is designed to provide the basic living facilities. The layout of a micro studio apartment includes a bathroom, cooking area and living room. The bedroom is the same as the living room.
Communal amenities like lounges, gyms, pools, rooftop decks, and other outdoor spaces are available in specific micro apartments buildings in Portland. Some also provide renters with additional room to utilize outside of their unit as well as the chance to socialize without leaving home.
Dimensions Of a Micro Apartment
According to the report, micro apartments on the market in Portland are only 435 square feet on average, with one-bedrooms averaging 644 square feet and two-bedrooms averaging 935 square feet. San Francisco apartments are larger on average, with micro apartments measuring 514 square feet, one-bedroom apartments measuring 719 square feet, and two-bedroom apartments measuring 1,047 square feet. By comparison, New York City apartments were so enormous that they didn’t even list cities with the smallest apartments.
Who Lives in Micro Apartments?
Micro apartments are definitely not suitable for families or even roommates living together. Single twenty-somethings with decent paying employment are the primary demographic for micro-apartments in the city. These are the people who are prepared to give up space for a comfortable living space in a dynamic prime location; who live alone and do not have many belongings. And, who spend most of their time working or socializing outside of their apartment. Moreover, those who cannot afford the high and expensive rents also prefer micro units.
Rented Micro Apartments in Portland
In Portland, micro apartments can be rented for personal use or acquired as investment assets to rent out to others. They usually rent to young single professionals who are just starting in their professions and may have recently relocated to a new city. These people may not have much furniture or other belongings at this stage, making a micro-apartment a perfect spot to start their future because the small area they provide may be plenty.
How Much Does a Micro Apartment Cost?
For an investor, the price of a micro apartment will vary greatly depending on the builder and the region of the nation where the apartment is located. Micro apartment construction expenses are typically 5% to 10% more than regular apartments, which may be reflected in a higher buying price in some circumstances. Despite this, the value ratio (monthly rent per square foot) is generally 25% higher.
In general, the rent for a micro apartment in Portland is between 70% and 80% of what a renter would pay for a comparable-sized apartment in the same neighborhood.
Community In Micro Apartments
Micro apartments in Portland include many common areas, and many of them are effectively dormitories for folks who are somewhat older than college age i.e.: Millennials and young professionals. This usually results in a more close-knit feeling of community than you would get in an ordinary apartment complex.
Affordability Of Micro Apartment
A micro apartment in a prime location in a big metropolis is unlikely to meet the standard definition of cheap housing. It will, however, most likely be less expensive than the alternative. Micro apartments are generally $500 less expensive than adjacent studio apartments. The savings may be much higher in a dorm-style micro apartment complex, which adds up quickly over a year. This is why micro apartments are suitable for working professionals looking for a comfortable living space without compromising on budget and city life.
Perfect-location Of a Micro Apartment
If you’ve completed your homework, you’ll notice that most apartments are always near or in big cities. Many younger renters will accept smaller space in exchange for being in the heart of the city. When asked why they picked a smaller unit, the common answer is that location is the number one reason. Small apartment buildings in Portland tend to be in the most desired and prime locations of the city. So, for all those looking to live in the heart of the city without the expensive rent, prefer looking into micro units.
Features of Micro Apartments in Portland
Here I list features typically included in micro apartments Portland:
- High Ceilings
Making a place look larger than it is, is one of the most successful methods for a real estate agent to sell a space with limited square footage. As a result, while building tiny apartments, developers frequently include high ceilings.
- Common Areas
While most apartment buildings offer standard amenities such as fitness centers and laundry rooms, micro apartment complexes have them in plenty. Renters may see common areas and roof decks added to expand usable living space. Residents can store some of their things in several of the storage facilities. Some micro apartments even feature common kitchen and toilet facilities, similar to those found in dorms.
- Lofted or Folding Beds
In compact apartments, it is typical to find space-saving furniture designs, especially for beds. Because the average queen bed takes up almost 35 square feet of area, adopting a loft or fold-up bed design allows you to repurpose that space.
Instead of a full big kitchen, micro apartments have a small kitchenette type set up. They include a stove, a small sink, some counter space, 3-4 cabinets and basic appliances.
Micro studio units come with one full bathroom that includes a small sink, toilet and shower. (Or a shower and bathtub combo if the space allows it.)
Micro studio apartments are the ultimate solution for the rising demand of affordable modern housing. This is why more and more cities in the country are investing in micro unit developments. Portland also has many micro studio apartment buildings and complexes to provide affordable housing to renters. This article sums up everything you need to know about living in a micro apartment Portland, Oregon.