Ivan Kaufman's infographic discussing and showing data collected regarding; interstate vs. intrastate migration trends, annualized renter growth rate, and annualized growth rate in interstate relations vs. income.

1. MULTIFAMILY MIGRATION:
WHO IS MOVING WHERE?
23.7% of renters in
small assets moved
during 2014, a
greater share than
the 19.6% of renters
in large assets.
Renter movements across
state lines grew at a 3%
annual rate for small
properties, and an even
higher rate of 4% for large
buildings.
The share of new renters in
large properties with
household incomes at
$100,000 or more grew at an
annual rate of 6% compared to
only 0.4% in small properties.
Interstate vs. Intrastate Migration Trends
0.0%
6.0%
12.0%
18.0%
24.0%
Same State Move New State Move
Small Asset Renters
(5-49 units)
Large Asset Renters
(50+ units)
Total US
Population
Annualized Renter Growth Rate, 2010-2014
-4%
-2%
0%
2%
4%
Total Renter
Population
Renters Moving
in State
Renters Moving
Out of State
Small Asset Renters
(5-49 units)
Large Asset Renters
(50+ units)
Annualized Growth in Interstate Relations vs. Income, 2010-14
Across Household
Income
Below
$100,000
$100,000
and over
0%
2%
4%
6% Small Asset Renters
(5-49 units)
Large Asset Renters
(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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