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Table 2. Characteristics of Owners of Multifamily Properties by Number of Units in Property

Table 2.

Characteristics of Owners of Multifamily Properties by
          Number of Units in Property				

                                       Total                        50 or
                                      United   Less than   5 to 49  more
                                       States   5 units     units   units

Type of owner				
  Individual investors, husband/wife   86.3%      89.9%     74.4%    30.6%
  Trustee for estate                    2.0%       1.9%      2.6%     1.0%
  Limited partnership                   2.8%       1.7%      5.5%    25.4%
  General partnership                   2.9%       2.2%      5.2%    12.9%
  Real estate investment trust (REIT)   0.7%       0.6%      1.2%     2.6%
  Real estate corporation               1.6%       1.0%      3.7%    10.9%
  Other corporation                     1.3%       0.9%      3.0%     5.7%
  Non-profit/church-related institution 0.7%       0.3%      2.0%     6.1%
				
Age of owner				
  Less than 45 years                   23.4%      24.0%      19.8%   12.2%
  45 to 54 years                       25.4%      25.1%      27.3%   28.1%
  55 to 64 years                       23.5%      23.0%      26.1%   28.5%
  65 years or older                    27.8%      27.9%      26.9%   31.2%
				
Race of owner				
  White                                85.2%      84.6%      88.0%   93.5%
  Black or African American             8.4%       9.2%       4.3%    1.5%
  Asian or Pacific Islander             3.8%       3.6%       5.1%    3.3%
				
Spanish/Hispanic origin of owner        5.8%       5.9%       5.6%    1.8%
				
Owner residence on this property       24.2%      26.8%      10.3%    3.2%
				
Owner weekly contribution to 				
maintenance/management				
  Less than 1 hour a week              34.3%      35.9%      24.0%   46.8%
  1 to 8 hours per week                45.2%      46.4%      39.9%   20.5%
  More than 8 hours per week           20.5%      17.7%      36.2%   32.7%
				
Owner would not buy property again     31.9%      32.2%      32.7%   13.3%
				
Other type of work of owner				
  None                                 23.4%      24.0%      20.6%   13.2%
  Other                                76.6%      76.0%      79.4%   86.8%
     Executive/managerial/admin        15.5%      14.7%      18.3%   35.5%
				
Owner owns 1 rental property           48.0%      51.6%      29.7%   15.0%
				
Median percentage income earned        31.0%      29.0%      43.0%   64.0%
from ownership of all rental properties				

Note: For some items in this table, the percentages are given only for
the top categories and may not add to 100%.

Source: U.S. Census Bureau | Property Owners and Managers Survey (POMS) |  Last Revised: 2012-08-31T12:06:19.647-04:00