New from MPF Research: Affordable Housing, The Next Recession, Tailored Communities
MPF Research provides actionable market research to apartment investors and operators. Here’s the latest from RealPage’s multifamily intelligence division.
Where are LIHTC units most scarce? MPF Research examines metro-level availability
While the low-income housing tax credit (LIHTC) is one of the most popular programs utilized in creating housing for income-burdened households, a sizable gap exists between the number of LIHTC units and the volume of low-income households.
The shortage of designated affordable housing is particularly dire in specific metros. In Phoenix, there are only 6.08 LIHTC units per 100 low-income households. The capital metro leads the 10 markets with the scarcest LIHTC availability.
Meanwhile, Richmond, Virginia, ranks #1 among metros with the most LIHTC units for every 100 low-income households. However, even in that metro, availability of LIHTC units falls far short of the need for them.
Is the next recession near? 3 scenarios to consider
As the economy continues its recovery from the Great Recession, many have begun wondering when the next downturn will come.
In a new report, K.C. Sanjay of Axiometrics, a RealPage company, analyzes economic indicators – including interest rates, unemployment, and gross domestic product – to detail possible scenarios relating to the timing and depth of the next recession.
Developers outline strategies at NMHC conference
As the apartment market becomes more competitive and demographic dynamics shift, industry players are increasingly tailoring a product to satisfy demand.
At a recent National Multifamily Housing Council event, a panel of experienced developers shared three distinct strategies for selecting where and what to build, with nuances including site selection, design, renter preferences and amenity inclusion. Expressing those variables can sometimes be one in the same, Thomas Bakewell of StreetLights Residential said his firm looks at the neighborhood as an amenity.
“We don’t want to build a property today that people look back on and say, ‘why did they build that property … it doesn’t fit in with the neighborhood,’” he said.
For the latest multifamily market insights, visit MPF Research.