Moderately Burdened households are those paying between 30% and 50% of their household income towards rent, while Severely Burdened households pay 50% and up.

1. HOW BIG IS THE
RENT AFFORDABILITY PROBLEM?
Moderately Burdened
households are those
paying between 30% and
50% of their household
income towards rent, while
Severely Burdened
households pay 50% and up.
About 25% of
households in small
properties fall in the
Moderately Burdened
category, slightly higher
than the 24% share in
large properties.
Measuring renters that are
severely burdened, the
share is slightly higher for
households in large
properties (30%) than
small properties (28%).
Moderately Burdened Renters by Household Income
0%
13%
25%
38%
50%
> $15,000 $15,000-
$29,999
$30,000-
$44,999
$45,000-
$74,999
> $75,000
Small Assets
(5-49 units)
Large Assets
(50+ units)
Severely Burdened Renters by Household Income
0%
20%
40%
60%
80%
> $15,000 $15,000-
$29,999
$30,000-
$44,999
$45,000-
$74,999
> $75,000
Small Assets
(5-49 units)
Large Assets
(50+ units)
Share of Severely Rent Burdened Households in the Top 20 Markets
20%
25%
30%
35%
40%
Phoenix
Dallas
Minneapolis
Detroit
Miami
WashingtonDC
SanFrancisco
Philadelphia
Portland
Denver
Boston
Tampa
Chicago
SanDiego
USAverage
Houston
Seattle
NewYork
Baltimore
LosAngeles
Atlanta
Small Assets
(5-49 units)
Large Assets
(50+ units)
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
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