People 65 years of age and over are 14.5% of the population, though seniors are only 10.9% of the country's renter population. The amount of seniors living in small apartments increases every year. The question remains if seniors are the next wave of apartment demand.

1. ARE AMERICA’S SENIORS THE
NEXT WAVE OF APARTMENT DEMAND?
People 65 years of age
and over are 14.5% of
the population, though
seniors are only 10.9%
of the country’s renter
population.
The concentration of
seniors in rental housing
varies significantly
between small apartment
buildings (7.6%) and
large buildings (21.7%).
The population of seniors
living in small buildings
grew at 3.7% between
2010 and 2014, compared
to only 2.0% in large
buildings.
Share of Seniors in Rental Housing
0%
6%
12%
18%
24%
Share of Small Asset
(4-49 Units) Renters
Share of Large Asset
(50+ Units) Renters
Share of Multifamily
Renters
General
Population
2010 2014
Seniors: A Growing Renter Cohort
0.0%
0.8%
1.6%
2.4%
3.2%
Small Asset
(4-49 Units) Renters
Large Asset
(50+ Units) Renters
General
Population
Share of Working Seniors
0%
5%
10%
15%
20%
25%
Small Asset
(4-49 Units)
Large Asset
(50+ Units)
2010
2014
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.alexchatter.com