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Immigration And The Small Property Rental Market

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Immigration plays an important role in shoring up household formation rates and housing demand in the United States. Nearly a quarter of all households in 2014 across both small rental properties and large rental properties were immigrants, compared to only about 15% for the overall housing inventory.

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Immigration And The Small Property Rental Market

  1. 1. IMMIGRATION AND THE SMALL PROPERTY RENTAL MARKET Immigration plays an important role in shoring up household formation rates and housing demand in the United States. Nearly a quarter of all households in 2014 across both small rental properties and large rental properties were immigrants, compared to only about 15% for the overall housing inventory. Immigrant households in small properties with heads between 35 and 64 years of age experienced growth of nearly 4% annually between 2010 and 2014, compared with 2% for large buildings. Share of Immigrant Households by Building Size and Type (2014) Small Asset Multifamily (5 to 49 units) Large Asset Multifamily (50+ units) All Housing Types 10% 15% 20% 25% 30% Immigrant Household Growth by Age of Head of Household (2010 to 2014) 0.00% 1.00% 2.00% 3.00% 4.00% 18 to 34 years 35 to 64 years 65 years or more Small Assets (5-49 units) Large Assets (50+ units) -1.00% Small balance multifamily loans are typically between $1 million and $5 million. Chandan Economics defines small-cap properties as 5 to 19 units, mid-cap properties as 20 to 50 units, and large-cap properties as larger than 50 units. Both small-cap and mid-cap properties can fall into the small balance spectrum. Source: American Community Survey; Chandan Economics See the full report on ALEX Chatter here: www.arborloanexpress.com/chatter

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