Affordable 100
2023 NAHMA Affordable 100
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 (see the link below for more details).
<1-40> <41-80> <81-120> <Specialty Lists – LIHTC and RD>
| Rank | Management Company (2022 rank shown in parentheses) |
Headquarters | Total Number of Units | |
| Subsidized* | Residential** | |||
| 1. ^ | WinnCompanies (3) | Boston, MA | 65,179 | 105,673 |
| 2. ^ |  |
Folsom, CA | 61,263 | 141,903 |
| 3. |  |
Houston, TX | 40,135 | 150,095 |
| 4. ^ | Related Real Estate (2) | New York, NY | 40,000 | 87,000 |
| 5. ^ |  |
Camden, NJ | 38,056 | 67,231 |
| 6. ^ | Dominium (5) | Dallas, TX | 36,426 | 38,059 |
| 7. | The John Stewart Company (6) | San Francisco, CA | 31,640 | 34,748 |
| 8. |  |
Suffern, NY | 30,245 | 48,395 |
| 9. | KMG Prestige, Inc. (7) | Mount Pleasant, MI | 28,070 | 32,140 |
| 10. ^ | Royal American Management, Inc. (15) | Panama City, FL | 26,280 | 27,311 |
| 11. ^ | CONAM Management Corporation (16) | San Diego, CA | 26,218 | 53,162 |
| 12. ^ | Envolve Communities / Envolve Client Services Group (9) | Memphis, TN | 25,214 | 28,553 |
| 13. | Capstone Real Estate Services, Inc. (11) | Austin, TX | 24,921 | 36,073 |
| 14. ^ | Mercy Housing Management Group (10) | Denver, CO | 24,210 | 24,210 |
| 15. ^ | National Church Residences (13) | Columbus, OH | 22,641 | 23,120 |
| 16. ^ | Millennia Housing Management, Ltd. (12) | Cleveland, OH | 22,299 | 31,463 |
| 17. ^ | Reliant Realty Services (49) | New York, NY | 19,900 | 20,700 |
| 18. ^ | SPM, LLC (56) | Birmingham, AL | 19,646 | 109,112 |
| 19. ^ | Capital Realty Group (116) | Spring Valley, NY | 17,584 | 17,584 |
| 20. |  |
Birmingham, AL | 17,320 | 19,210 |
| 21. ^ | Edgewood Management Corporation (17) | Gaithersburg, MD | 17,182 | 20,073 |
| 22. | Elmington Property Management, LLC (38) | Nashville, TN | 16,718 | 40,581 |
| 23. | S.L. Nusbaum Realty Co. (20) | Norfolk, VA | 16,651 | 28,420 |
| 24. | The Franklin Johnston Group (28) | Virginia Beach, VA | 16,172 | 21,369 |
| 25. | C&C Apartment Management LLC (18) | New York, NY | 16,077 | 20,482 |
| 26. | Fairway Management Inc. | Columbia, MO | 16,000 | 17,000 |
| 27. | Allied Orion Group (27) | Houston, TX | 15,947 | 26,790 |
| 28. | Fairfield Residential (23) | San Diego, CA | 15,885 | 36,146 |
| 29. | TRG Management Company, LLP (85) | Weston, FL | 15,100 | 21,300 |
| 30. ^ | Volunteers of America (21) | Alexandria, VA | 15,000 | 15,000 |
| 31. ^ | Wallick Communities (43) | New Albany, OH | 14,421 | 15,341 |
| 32. |  |
Columbia, SC | 14,201 | 14,201 |
| 33. ^ | Wingate Management (39) | Newton, MA | 14,198 | 18,511 |
| 34. | Cushman and Wakefield (88) | Chicago, IL | 14,069 | 171,713 |
| 35. | Woda Cooper Companies, Inc. (32) | Columbus, OH | 13,968 | 14,156 |
| 36. | Retirement Housing Foundation (29) | Long Beach, CA | 13,880 | 17,044 |
| 37. ^ | Beacon Communities (44) | Boston, MA | 13,734 | 18,477 |
| 38. | Conifer Realty, LLC (26) | Rochester, NY | 13,546 | 14,723 |
| 39. ^ | Fairstead | New York, NY | 13,418 | 15,330 |
| 40. ^ | Gene B. Glick Company, Inc. (24) | Indianapolis, IN | 13,355 | 20,935 |
<1-40> <41-80> <81-120> <Specialty Lists – LIHTC and RD>
^ A NAHMA Communities of Quality National Recognition Program Participant
* and ** 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.
* Total affordable units managed. Federal programs only, including HUD, LIHTC, USDA, HOME and Bond programs. 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. If a unit has more than one subsidy, it is counted only once.
** Total residential units managed (including market or affordable).
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.
