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Ivan Kaufman: How Renter Occupations Vary by Apartment Building Size

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This infographic provides a quick look at how renters occupations correlates to their apartment's building size. People living in denser, downtown areas tend to work in STEM-Plus categories when it comes to jobs. On the other hand, the properties with lower in rent and smaller space in suburban areas tend to have occupants who are employed in a broad range of areas with varying salaries.

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Ivan Kaufman: How Renter Occupations Vary by Apartment Building Size

  1. 1. HOW RENTER OCCUPATIONS VARY BY APARTMENT BUILDING SIZE 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 Given their urban location and ability to afford higher rents, a greater share of residents in large apartment buildings are employed in (science, technology, engineering and mathematics) STEM jobs. Residents employed in STEM occupations comprised 32% of all workers living in large apartment buildings in 2014. The relatively more suburban small properties with lower rents cater to workers employed over a broader range of occupations and wages. Small property renters have lower average wages compared to large building renters. Large apartment residents earn nearly 38% higher incomes on average compared to their small building counterparts. Annual Wage by Occupation Categories $20,000 $0 $40,000 $60,000 $80,000 Small Assets (5-49 units) Large Assets (50+ units) Legal, Education and Community Services STEM-Plus Sales & Office Support Local & Personal Services Production & Transportation Natural Resources, Construction and Maintenance Other Apartment Distribution of Workers by Occupation 10% 0% 20% 30% 40% Legal, Education and Community Services STEM-Plus Sales & Office Support Local & Personal Services Production & Transportation Natural Resources, Construction and Maintenance Other Small Assets (5-49 units) Large Assets (50+ units)

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