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Microhousing Establishes Resiliency

While Some Buildings Lag, Microhousing Establishes Resiliency

As with all multifamily markets, microhousing was tested by the pandemic. However, both occupancy and rental rates are up. Average rent on micro units between 150 and 250 square feet is up 6.1 percent year-over-year at $1,026 with 94 percent occupancy.

Year-end research on Seattle’s microhousing apartment market from Kidder Mathews’ multifamily investment team led by Dylan Simon and Jerrid Anderson, the 2021 Micro Report, shows while some buildings have lagged, the market as a whole established resiliency in 2021. While only a handful of investors currently develop, own and operate microhousing in the Puget Sound, thousands have watched the market boom with equal parts intrigue and skepticism.

“We sold the first microhousing investment in the region in 2016 and have spent our time selling, researching and investing in it since,” said Anderson. “A lot of people look at it as just another investment type, however, we believe in the short- and long-term necessity of microhousing.”


Inside The Story

Jerrid Anderson

About Lisa Brown

Lisa Brown has decades of experience in corporate communications and marketing management with organizations including Coldwell Banker Residential, Grubb & Ellis, Marcus & Millichap, NAIOP, SIOR and ALM. In those positions, she worked in conjunction with chief executive officers and chief marketing officers to create corporate messaging, cohesive branding standards, strategic marketing plans and thought pieces. Brown is a frequent speaker at industry events and an editing adjunct professor for an online course. She has a master’s degree in mass communications from San Jose State University.

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