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Ivan Kaufman: Who Lives in Small Properties?

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Here Ivan Kaufman and Chandan Economics dissects the demographics of small properties. Findings show that the average age of small buildings is 32 years of age while the average age of residents in larger buildings is 10 years higher.

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Ivan Kaufman: Who Lives in Small Properties?

  1. 1. THE AGE DISTRIBUTION OF RENTERS: WHO LIVES IN SMALL PROPERTIES? 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 The average age of residents in small buildings is significantly lower than in large buildings. In small properties, the average resident age is 32. In large buildings, the average is ten years higher. Residents under 30 years old account for 52% of the small building population. Renters 60 and older account for 27% of large building residents and just 11% of residents in small buildings. Age Distribution of Apartment Resident by Building Size 7.5% 0% 15% 22.5% 30% 10-19 years Less than 10 years 30-39 years 20-29 years 40-49 years 60-69 years 50-59 years 80 years and up 70-79 years Small Assets (5-49 units) Large Assets (50+ units) Average Age of Apartment Renters - Small vs. Large Assets 10 0 20 30 40 Large Assets (50+ units) Small Assets (5-49 units)

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