How Do Multifamily Renters Get to Work?
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Ivan Kaufman explains how multifamily renters in small buildings, being relatively more suburban, have higher rates of car use.
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How Do Multifamily Renters Get to Work?
- 1. HOW DO MULTIFAMILY RENTERS GET TO WORK? 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 Renters in small buildings, being relatively more suburban, have higher rates of car use. Large assets are more urban, where public transportation and walkability are more popular. 77% share of workers living in small buildings drove to work compared to only 62% in large asset buildings. 78% of all small asset households owned at least one car compared to 60% for large buildings. Vehicle Ownership 0% 15% 30% 45% 60% 0 Vehicles 1 Vehicle 2 Vehicles 3 or more Vehicles Small Assets (5-49 units) Large Assets (50+ units) Means of Transportation to Work 0% 25% 50% 75% 100% Car, Truck or Van Public Transport Walked Other Personal Means Work at Home Taxicab Small Assets (5-49 units) Large Assets (50+ units)