A recent study conducted by the Urban Land Institute Multifamily Housing Councils on the current status and future of micro housing units (300 to 500 square feet depending on the region of the country one lives) found that developers of rental apartment communities tend to offer an extensive array of amenities, intimate gathering spaces, and services to residents that enable them to experience community outside their micro units.

In 2013, the Urban Land Institute Multifamily Housing Councils were awarded a ULI foundation research grant to evaluate the market performance and market acceptance of micro and small housing units with an objective of gathering and sharing information that can contribute to the successful development of micro-unit communities in the future.

The study found that the size of what is considered a micro-unit varies by region of the country from 300 square feet to 500 square feet.

Among the findings based on respondents' answers to a survey, were that of those who were interested in these units, most were willing to consider them in exchange for a lower monthly rent (approximately 20 percent to 30 percent below that of a conventionally sized unit), a highly desirable location, and the ability to live alone.

The target market profile for micro units is predominantly young professional singles, typically under 30 years of age, with most under 27 years of age, trending slightly more male than female.

According to the findings rental apartment community developers tend to offer an extensive array of amenities, intimate gathering spaces, and services to residents that enable them to experience community outside their micro units.

The study also found that developing and operating a rental apartment community with micro units is more expensive, but the premium rent per square foot achieved, more than makes up for the added cost.