Small Multifamily

While a larger share of small building households own vehicles, growth in ownership was slower compared to large buildings for the post-crisis period.

While a growing number of cities are eliminating parking minimums, the price of parking access within apartment properties is still reflected in higher unit rents across US metros. This is especially true for in-structure parking offerings.

Here’s a quick look at the small balance multifamily finance and investment benchmarks for Q2 2017.

While single renters constitute close to half of the demand within small apartment units, their growth has been faster in larger buildings, where preferences by both age and gender play a significant role.

Small properties, while historically low in attracting renters with disabilities, are becoming more sought after for their affordability.

Seniors are not a monolithic renter group, but rather have varying needs from early retirement to skilled care services. Small property operators will have to prepare for this generational demand as more seniors are choosing to rent. 

The growing lack of affordability within U.S. rental housing has led to the creation of new loan programs aimed at strengthening and preserving the existing stock of multifamily that’s affordable for the workforce. It turns that a large portion of housing suitable for the workforce is found in smaller apartment properties with between 5 and 50 units.

Here’s a quick look at the small balance multifamily finance and investment benchmarks for Q1 2017.

Ivan Kaufman, Chairman, President & CEO of Arbor Realty Trust, Inc., sits down with Steve Johnson, Vice President of the Small Loan Business at Freddie Mac Multifamily, for a discussion on how the Freddie Mac Small Balance Loan program has expanded liquidity to underserved markets.

While Gateway markets like New York and San Francisco still dominate, the STEAM job market (think STEM plus arts) is increasingly moving to Secondary markets.