Housing affordability is so squeezed that office-to-apartment conversions just spiked 484%

The shift to remote and hybrid work models due to the pandemic has left many office spaces vacant, while the residential housing market remains robust. Office-to-apartment conversions have surged, rising from 12,100 units in 2021 to 70,700 in January 2025, marking a 484% increase. This trend showcases adaptive reuse as a strategy to meet housing demands in urban areas. Major cities like New York and Washington, D.C. lead in conversion projects, with the office sector making up 42% of the current conversion pipeline from commercial properties.

"This significant increase highlights the evolving nature of America's cities that are driven by shifts in living preferences and changes in work habits."

Read at Fast Company