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 10years

30-39 years

20-29 years

40-49 years

60-69 years

50-59 years

80 yearsand up

70-79years

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)