Affordable Housing Market Snapshot — January 2024
The state of housing affordability in the U.S. has continued to erode as a growing wave of supply-driven policies offers hope of a solution on the horizon. A closer look at the nation’s overall housing needs underscores the increasing urgency of the situation.
Arbor’s latest Affordable Housing Trends Report, developed in partnership with Chandan Economics, offers a wide-ranging lens into the complex, though critically important, affordable and workforce housing sectors.
- The number of households of renters living in inadequate conditions who do not receive rental assistance has grown by 70% over the past two decades.
- Utilization of the 4% Low-Income Housing Tax Credit (LIHTC) reached a new high as affordable housing rehabilitations outpaced ground-up development.
- With the 2024 federal budget in limbo, the U.S. Department of Housing and Urban Development’s (HUD) spending programs are frozen at 2023 levels, delaying an expansion of the Housing Choice Voucher (HCV) program.
Here are more key indicators of the affordable housing market:
Interested in the multifamily real estate investment market? Contact Arbor today to learn about our array of multifamily, single-family rental, and affordable housing financing options and view our other market research and multifamily posts in our research section.