New data shows that smaller portfolios have been picking up speed over the past five years.

Many owners in the rental housing industry are new to multifamily housing and only oversee a handful of units. According to new data from Avail, just over half of survey respondents joined the industry in 2021 or later. Nearly three-fourths of owners have one to four units in their portfolio.

Individual ownership was most common at nearly 64%, while a quarter of respondents co-own with family members. Most owners purchased the rental to generate rental income, nearly 60% of respondents, according to the report.