Demand for studio and one-bedroom apartments across the five boroughs is outpacing that of apartments with two or more bedrooms, despite asking prices for the smaller apartments rising faster, data from a new report by StreetEasy shows.

In October, studio and one-bedroom listings received 100% more rental inquiries — a proxy for renter demand — on average than January 2021, and received 1.5 times more inquiries than listings with two or more bedrooms, the real estate company’s analysis shows. 

Asking rent for studio and one bedrooms is up over 18% compared year over year to an average of just over $3,000, data from StreetEasy shows. By comparison, rents for apartments with two or more bedrooms units rose 17% year-over-year to $3,668.

The report notes that the trend is somewhat unexpected: Demand for listings with two or more bedrooms has cooled more quickly since the summer, though is still up 62% from January 2021.

Experts say many are willing to forego savings usually accompanied with bunking up with extra roommates in order to prioritize health, privacy, and having their own workspace as work-from-home trends continue, according to the report.

“One of the main issues for roommates in today’s market is finding enough personal space which allows them to work comfortably from home,” says James Finelli, an NYC real estate agent with Compass and StreetEasy Expert. “As many renters are still working or studying remotely in a larger capacity than prior to COVID, it has become a necessity to fit a desk and have more privacy in their bedroom. And as most shared apartments can be very space prohibitive, many renters have opted to find their own studio or one bedroom that does not pose the same challenges.”

Low inventory of studio and one-bedroom apartments may also be adding more pressure on rents. 

According to the StreetEasy market report, renters looking for studio and one-bedroom listings currently have less than half as many listings to choose from compared to January 2021 — and that may not change any time soon.

Inventory of studio apartments dropped by 61% since January of 2021, and 56% in the same time period for one-bedroom apartments, the report says.

“The continued strong rent growth among studio and one-bedroom homes suggests that these segments of the rental market will take longer to cool down, despite less overall affordability,” StreetEasy economist Kenny Lee says.

Of course, in New York City, it’s a lot cheaper to live with a roommate. People choosing to pair up in a two bedroom are typically saving $15,000 a year, according to StreetEasy’s report.