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.

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
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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)