Affordable 100 Specialty Lists

2023 NAHMA Affordable 100 Specialty Lists

How many housing units receive at least one form of federal subsidy in the United States today? The annual NAHMA Affordable 100 list provides this important data!

The NAHMA Affordable 100 comprises the largest affordable multifamily property management companies, ranked by affordable unit counts. The NAHMA Affordable 100 list contributes vital data to the ongoing national dialogue on the future of federal funding for affordable housing. In an effort to accurately determine the portfolio of affordable units receiving federal subsidy in the United States, NAHMA publishes this annual listing of affordable units containing at least one of the following federal subsidies: HUD Project-based Assistance (Project-based Section 8, Section 202 and Section 811), Section 42 LIHTC, HOME and CDBG funds, USDA Section 515, or Bonds.

Companies in bold provided data for NAHMA’s Affordable 100 survey. All others are based on industry estimates. ** All unit data represent only units directly managed (not owned) that were rented or available to rent on Dec. 31, 2022. Down units, abated units, units under construction or rehabbing units not available for rent are not included.

NAHMA also presents two specialty lists – the 25 largest housing credit (LIHTC) property management companies, and the 25 largest Rural Development (Section 515) property management companies. 

<1-40> <41-80> <81-120><Specialty Lists – LIHTC and RD>

25 Largest Housing Credit (LIHTC) Property Management Companies

Rank	Management Company	Headquarters	Housing Credit Units*
1. ^	FPI Management, Inc.	Folsom, CA	57,295
2. ^	WinnCompanies	Boston, MA	44,105
3. ^	Dominium	Dallas, TX	32,944
4.	The John Stewart Company	San Francisco, CA	26,271
5.	Asset Living	Houston, TX	26,105
6. ^	The Michaels Organization	Camden, NJ	25,299
7. ^	CONAM Management Corporation	San Diego, CA	25,172
8.	Capstone Real Estate Services, Inc.	Austin, TX	23,857
9.	KMG Prestige, Inc.	Mount Pleasant, MI	22,611
10. ^	Royal American Management, Inc.	Panama City, FL	20,031
11. ^	Millennia Housing Management, Ltd.	Cleveland, OH	18,703
12.	McCormack Baron Management Inc.	St. Louis, MO	17,566
13.	Gateway Management Company	Birmingham, AL	16,600
14.	Elmington Property Management, LLC	Nashville, TN	16,031
15.	Fairfield Residential	San Diego, CA	15,885
16. ^	Mercy Housing Management Group	Denver, CO	15,427
17. ^	Envolve Communities / Envolve Client Services Group	Memphis, TN	14,785
18.	Woda Cooper Companies, Inc.	Columbus, OH	14,116
19.	CAHEC Management, Inc.	Columbia, SC	13,401
20.	Cushman & Wakefield	Chicago, IL	13,377
21.	The Franklin Johnston Group	Virginia Beach, VA	13,247
22.	Kittle Property Group, Inc.	Indianapolis, IN	12,772
23.	Allied Orion Group	Houston, TX	12,727
24.	Conifer Realty, LLC	Rochester, NY	12,726
25. ^	National Church Residences	Columbus, OH	12,170

 

25 Largest Rural Development (Section 515) Property Management Companies

Rank	Management Company	Headquarters	RD Section 515 Units*
1.	The Hallmark Companies, Inc.	Atlanta, GA	9,186
2.	CAHEC Management, Inc.	Columbia, SC	8,006
3. ^	Partnership Property Management	Greensboro, NC	7,380
4. ^	TM Associates Management, Inc.	Rockville, MD	7,107
5.	MACO Management Co., Inc.	Clarkton, MO	7,049
6.	AWI Management Corporation	Auburn, CA	5,387
7. ^	Winterwood, Inc.	Lexington, KY	4,400
8.	Landura Management Associates	Winston-Salem, NC	4,100
9.	Hamilton Valley Management, Inc.	Burnet, TX	4,064
10. ^	The Michaels Organization	Camden, NJ	4,025
11.	Woda Cooper Companies, Inc.	Columbus, OH	3,713
12.	RLJ Management Co, Inc.	Columbus, OH	3,229
13.	PK Companies, LLC	Okemos, MI	3,163
14.	Viridian Management	Enterprise, OR	2,938
15. ^	Royal American Management, Inc.	Panama City, FL	2,607
16.	MAC Real Estate, LLC	Metairie, LA	2,161
17.	JL Gray	Alburquerque, NM	2,146
18.	Intervest Corporation	Madison, MS	2,023
19.	Conifer Realty, LLC	Rochester, NY	1,512
20. ^	Guardian Management LLC	Portland, OR	1,322
21.	Community Housing Partners Corporation	Midlothian, VA	1,160
22.	Community Management Corporation	Winston-Salem, NC	1,062
23.	Gardner Management	Kalamazoo, MI	1,032
24.	Integra-Peak Management	Bedford, TX	924
25. ^	WinnCompanies	Boston, MA	754

<1-40> <41-80> <81-120><Specialty Lists – LIHTC and RD>

^ A NAHMA Communities of Quality National Recognition Program Participant

* Unit data represent only units directly managed (not owned) that were rented or available to rent on Dec. 31, 2022. Down units, abated units, units under construction or rehabbing units not available for rent are not included. Data do not include state or local subsidy, public housing, tenant-based vouchers (Section 8 or RD tenant-protection vouchers), or federal mortgage insurance or loan guarantee programs.

NAHMA would like to extend its sincere thanks to the NAHMA Affordable 100 Task Force, without whose hard work and support this survey would not have been possible. In particular, sincere appreciation goes to task force chair Nathan Burnett, Watchtower Security and vice chair Jeffrey Promnitz, Zeffert & Associates, Inc.; Guthrie Alberts, Paysafe Merchant Services, Inc.; Joe Anderson, The Buckner Company; Phil Bogucki, Watchtower Security, Inc.; Andrew Boyle, New Hampshire Housing Finance Authority; Mike Coco, Choice Property Resources, Inc.; Amber Day, TrashPro; Leo Delgado, Converged Services, Inc.; Rue Fox, ResMan; Janel Ganim, ResMan; Eddie Garrett, McGriff Insurance Services; Tracey Gray, Watchtower Security, Inc.; Jenny Hidalgo, Omnia Partners; Babbie Jaco, CAHEC Management; Jennifer Kelly, MRI Software; Mark Livanec, Yardi Systems, Inc.; Amy Losek, Converged Services, Inc.; Carlita Mendez, CMS Results; Scott Nelson, RealPage, Inc.; Dion O’Brien, Watchtower Security, Inc.; Andrew Pieplow, Watchtower Security, Inc.; Scott Ployer, National Property Management Strategies Group, LLC; Greg Proctor, Lumina Partners; Scott Scharlach, Columbus Metropolitan Housing Authority; Christopher Voss, Yardi Systems, Inc.; Colleen Winship, Appfolio; and John Yang, Rental Housing Deals.com, Inc.

If you believe your company should be included in next year’s survey, please contact Jennifer Jones, jjones@nahma.org.