{"id":45619,"date":"2016-10-31T02:55:44","date_gmt":"2016-10-31T09:55:44","guid":{"rendered":"http:\/\/www.rentcafe.com\/blog\/?p=45619"},"modified":"2023-01-06T03:10:10","modified_gmt":"2023-01-06T11:10:10","slug":"apartment-upgrade-how-much-does-an-extra-room-cost","status":"publish","type":"post","link":"https:\/\/www.rentcafe.com\/blog\/rental-market\/apartment-upgrade-how-much-does-an-extra-room-cost\/","title":{"rendered":"Upgrading to a Larger Apartment\u2014the Financial Implications of Having an Extra Bedroom"},"content":{"rendered":"<div class=\"usagerights\">\n<div class=\"featuredby\">\n<p>A common compromise renters make is settling for less space in favor of a good location. However, living small is just a temporary thing for many, and an <strong>apartment upgrade<\/strong> is usually put on the table sooner or later. After a <a href=\"https:\/\/www.rentcafe.com\/blog\/rental-market\/rentcafe-apartment-market-report-september-2016\/\" target=\"_blank\" rel=\"noopener\">rent-growth marathon lasting 9 months<\/a>, and with <a href=\"https:\/\/www.rentcafe.com\/blog\/rental-market\/us-average-apartment-size-trends-downward\/\" target=\"_blank\" rel=\"noopener\">new apartments getting smaller<\/a> every year, a decision like this raises a number of questions. <strong>Like how much more does it cost to rent a larger home? Or how much more space does an extra room mean?<\/strong><\/p>\n<\/div>\n<\/div>\n<p><em><strong>Highlights:<\/strong><\/em><\/p>\n<ul>\n<li>In the 25 largest U.S. cities by population, it can cost anywhere between $51 and $1,169 more per month on average to move into a <a href=\"https:\/\/www.rentcafe.com\/sitemaps\/1-bedroom-apartments-for-rent\/\">one-bedroom apartment<\/a> from a <a href=\"https:\/\/www.rentcafe.com\/sitemaps\/studio-apartments-for-rent\/\">studio<\/a>. A further upgrade to two-bedroom units can set you back from $43 to $1,710.<\/li>\n<li>In relative terms, the studio to one-bed upgrade means 7% to 43% higher rents, and moving from a one-bedroom unit to a <a href=\"https:\/\/www.rentcafe.com\/sitemaps\/2-bedroom-apartments-for-rent\/\">two-bedroom rental apartment<\/a> in the same city costs anywhere between 6% and 43% more per month, on average.<\/li>\n<li>A one-bedroom apartment is 243 square feet or 51% larger than a studio on average in the U.S., while a two-bedroom rental is approximately 292 square feet or 41% larger than a one-bed.<\/li>\n<\/ul>\n<p>Using data from\u00a0our sister company <a href=\"http:\/\/www.yardimatrix.com\/\" target=\"_blank\" rel=\"noopener\">Yardi Matrix<\/a>, an apartment market intelligence source, we were able to examine the apartment inventory in the U.S., taking <strong>only<\/strong> <strong>multifamily<\/strong> <strong>rental<\/strong> <strong>communities with at least 50 apartment units<\/strong> into consideration.<\/p>\n<h2>Ditching the studio for a one-bedroom apartment<\/h2>\n<p>On average, <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/chicago-il\/1-bedroom\/\">one-bedroom apartments<\/a> in <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/chicago-il\/\">Chicago<\/a> command 43% bigger rents than studios. That\u2019s the largest difference in the 25 largest cities by percentage \u2014 although by net sum you pay \u201djust\u201d $532 more. Compared to $1,169 (41%) in <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/manhattan-ny\/\">Manhattan<\/a>, that\u2019s quite a bargain.<\/p>\n<p>On the other hand, an apartment upgrade is quite light on the wallet of a <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/memphis-tn\/\">Memphis, TN<\/a>, resident. So, if you can afford to pay $51 or 8% more rent, there\u2019s no reason not to make the move.<\/p>\n<p>And in <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/charlotte-nc\/\" target=\"_blank\" rel=\"noopener\">Charlotte, NC<\/a>, it\u2019s a no-brainer, really, as <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/charlotte-nc\/1-bedroom\/\">one-bedroom apartments<\/a> here are actually cheaper than studios, on average. Our analysis of the local market revealed that the majority of <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/charlotte-nc\/studio\/\">studio units for rent in Charlotte<\/a> are concentrated in the city\u2019s downtown area, hence the high average price. One-bedroom rentals, on the other hand, are spread across the entire metro area, which lowers their average rent beyond that of studios.<\/p>\n<p>Below you can see how much it costs to upgrade from a studio to a one-bedroom in cities like <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/seattle-wa\/\">Seattle, WA<\/a>; <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/austin-tx\/\">Austin, TX<\/a>; <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/los-angeles-ca\/\">Los Angeles<\/a>; <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/houston-tx\/\">Houston<\/a>; <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/denver-co\/\">Denver<\/a>, and many more.<\/p>\n<p><script id=\"infogram_0_1b4a3035-660f-4c01-8bbe-17736b9d571c\" title=\"Upgrading from Studio to One-Bedroom Apartment\" src=\"\/\/e.infogr.am\/js\/embed.js?7Zv\" type=\"text\/javascript\"><\/script><\/p>\n<p>On average, a one-bedroom apartment is<strong> 243 square feet (or 51%) larger <\/strong>than a studio. In <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/columbus-oh\/studio\/\">Columbus, OH<\/a>, the average <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/columbus-oh\/1-bedroom\/\">one-bedroom apartment<\/a> is no less than 72% larger \u2014albeit, Columbus has by far the smallest <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/columbus-oh\/studio\/\">studios<\/a>, averaging just 389 square feet.<\/p>\n<p>The difference is smallest in renter hubs like Charlotte, <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/boston-ma\/\">Boston<\/a>, and <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/dallas-tx\/\" target=\"_blank\" rel=\"noopener\">Dallas<\/a> \u2014 but even in these large cities, <strong>an apartment upgrade means about 35% more stretch<\/strong>. Again, Charlotte has the largest studios, averaging at 558 square feet.<\/p>\n<h2>Upgrading from one to two bedrooms<\/h2>\n<p>Two-bedroom apartments cost, on average, 15% or $162 more to rent on a national level, compared to one-bedroom units. Although not as unexpected as the previous result, upgrading from one- to two-bedroom rentals holds some surprises of its own. In Manhattan, for example, the decision to say goodbye to your one-bedroom unit to enjoy two rooms means you\u2019ll pay around $1,710 or 43% more rent. By contrast, in Memphis, the difference is just 6%, which translates into a mere $43 added to the monthly rent payments.<\/p>\n<p><script id=\"infogram_0__\/xbwpfIFGDhU9mzAvJw8x\" title=\"Upgrading from One- to Two-Bedroom Apartment \" src=\"\/\/e.infogr.am\/js\/embed.js?sbT\" type=\"text\/javascript\"><\/script><\/p>\n<p>If you swap a one-bedroom for a two-bedroom, <strong>your living space will grow by about 292 square feet, or 41%<\/strong>, on average. Again, the difference is largest in Manhattan, 64% or 421 square feet. Renters in <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/nashville-tn\/\">Nashville<\/a> and <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/jacksonville-fl\/\">Jacksonville, FL<\/a>, also get to enjoy quite a lot of space once they upgrade: 345 square feet more, on average, which translates into a difference of 49% and 47%, respectively.<\/p>\n<p>The slightest difference between the average size of <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/philadelphia-pa\/1-bedroom\/\">one-bedroom<\/a> and <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/philadelphia-pa\/2-bedroom\/\">two-bedroom apartments<\/a> is in <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/philadelphia-pa\/\" target=\"_blank\" rel=\"noopener\">Philadelphia<\/a>, but even here an apartment upgrade means 261 square feet, or 37% more space.<\/p>\n<p><strong><em>Who is RentCafe and How Was the Data Compiled?<\/em><\/strong><\/p>\n<ul>\n<li><em>RentCafe is a\u00a0<\/em><a href=\"https:\/\/www.rentcafe.com\/\" target=\"_blank\" rel=\"noopener\"><em>nationwide apartment search website<\/em><\/a><em>\u00a0that enables renters to easily find apartments and houses for rent throughout the United States.<\/em><\/li>\n<li><em>To compile this report, RentCafe\u2019s research team analyzed the rental apartment inventory in the 25 most populous cities in the US.<\/em><\/li>\n<li><em>Inventory data was provided by\u00a0<\/em><a href=\"https:\/\/www.yardimatrix.com\/\" target=\"_blank\" rel=\"noopener\"><em>Yardi Matrix<\/em><\/a><em>, an apartment market intelligence source and RentCafe\u2019s sister company, which researches and reports on all multifamily properties containing 50 or more units across 121 markets in the United States.<\/em><\/li>\n<\/ul>\n<div class=\"usagerights\">\n<div class=\"fairuse\">\n<h3>Fair use and redistribution<\/h3>\n<p>We encourage you and freely grant you permission to reuse, host, or repost the images in this article. When doing so, we only ask that you kindly attribute the authors by linking to <a href=\"https:\/\/www.rentcafe.com\">RentCafe.com<\/a> or this page, so that your readers can learn more about this project, the research behind it and its methodology.<\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>A common compromise renters make is settling for less space in favor of a good location. However, living small is just a temporary thing for many, and an apartment upgrade is usually put on the table sooner or later. After a rent-growth marathon lasting 9 months, and with new apartments getting smaller every year, a&hellip;<\/p>\n","protected":false},"author":35,"featured_media":46657,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3660,3659],"tags":[],"class_list":["post-45619","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-real-estate-news","category-rental-market","gallery-content-unit"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Apartment Upgrade \u2014How Much Does an Extra Room Cost?<\/title>\n<meta name=\"description\" content=\"Although renters often choose a better location over a larger home, living small is just a temporary thing for many. But how much does an extra room cost?\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.rentcafe.com\/blog\/rental-market\/apartment-upgrade-how-much-does-an-extra-room-cost\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Upgrading to a Larger Apartment\u2014the Financial Implications of Having an Extra Bedroom\" \/>\n<meta property=\"og:description\" content=\"Although renters often choose a better location over a larger home, living small is just a temporary thing for many. But how much does an extra room cost?\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.rentcafe.com\/blog\/rental-market\/apartment-upgrade-how-much-does-an-extra-room-cost\/\" \/>\n<meta property=\"og:site_name\" content=\"RentCafe rental blog\" \/>\n<meta property=\"article:published_time\" content=\"2016-10-31T09:55:44+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-01-06T11:10:10+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2016\/07\/apartment.upgrade.featured1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"890\" \/>\n\t<meta property=\"og:image:height\" content=\"316\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Balazs Szekely\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Balazs Szekely\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.rentcafe.com\/blog\/rental-market\/apartment-upgrade-how-much-does-an-extra-room-cost\/\",\"url\":\"https:\/\/www.rentcafe.com\/blog\/rental-market\/apartment-upgrade-how-much-does-an-extra-room-cost\/\",\"name\":\"Apartment Upgrade \u2014How Much Does an Extra Room Cost?\",\"isPartOf\":{\"@id\":\"https:\/\/www.rentcafe.com\/blog\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.rentcafe.com\/blog\/rental-market\/apartment-upgrade-how-much-does-an-extra-room-cost\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.rentcafe.com\/blog\/rental-market\/apartment-upgrade-how-much-does-an-extra-room-cost\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.rentcafe.com\/blog\/wp-content\/uploads\/sites\/62\/2016\/07\/apartment.upgrade.featured1.jpg\",\"datePublished\":\"2016-10-31T09:55:44+00:00\",\"dateModified\":\"2023-01-06T11:10:10+00:00\",\"author\":{\"@id\":\"https:\/\/www.rentcafe.com\/blog\/#\/schema\/person\/623e95293ca6c6791bedc7473f548d7f\"},\"description\":\"Although renters often choose a better location over a larger home, living small is just a temporary thing for many. 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