2021 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, Section 42 LIHTC, HOME 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, 2020. 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 program property management companies (see the link below for more details). The specialty lists include only companies that provided data for NAHMA’s Affordable 100 survey, and does not include industry estimates.

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

Rank Management Company
(2020 rank shown in parentheses)
Headquarters Total Number of Units
Subsidized* Residential**
41. Wilhoit Properties (38) Springfield, MO 12,146 12,930
42. Wallick Communities (96) Columbus, OH 12,104 12,104
43. Beacon Communities (39) Boston, MA 12,072 17,850
44. Hayes Gibson Property Services (48) Bloomington, IN 11,996 13,467
45. Fairfield Residential (61) San Diego, CA 11,925 30,763
46. UAH-Mayfair Management Group (41) Dallas, TX 11,635 30,000
47.^ Newton, MA 11,633 16,096
48. The Hallmark Companies Inc. (44) Atlanta, GA 11,502 13,226
49. Lincoln Property Company (45) Dallas, TX 11,500 210,183
50. EAH Housing (71) San Rafael, CA 11,467 11,467
51. SPM LLC (47) Birmingham, AL 11,442 18,110
52. NDC Asset Management (46) Pittsburgh, PA 11,345 11,457
53.^ Partnership Property Management (50) Greensboro, NC 11,247 11,311
54.^ SHP Management Corp. (49) Cumberland Foreside, ME 11,000 11,000
55.^ Peabody Properties Inc. (54) Braintree, MA 10,635 14,264
56. Aperto Property Management (59) Irvine, CA 10,300 13,004
57. USA Properties Fund Inc. (51) Roseville, CA 10,263 11,629
58.^ Seldin Company (70) Omaha, NE 10,139 18,539
59. Rose Community Management LLC (86) Independence, OH 10,069 10,584
60. Preservation Management Inc. (40) South Portland, ME 10,041 10,164
61. Enterprise Residential LLC Baltimore, MD 10,026 10,026
62. Barker Management Inc. (53) Anaheim, CA 10,000 10,000
63. Maco Management Co. Inc. (43) Malden, MO 9,974 10,046
64.^ Reliant Realty Services LLC (55) New York, NY 9,956 9,956
65. Winterwood Incorporated (56) Lexington, KY 9,876 10,460
66. United Apartment Group (57) San Antonio, TX 9,771 36,043
67. Pennrose (60) Philadelphia, PA 9,602 10,366
68.^ Westminster Company (118) Greensboro, NC 9,472 9,552
69. Fairway Management Inc. (62) Columbia, MO 9,349 9,529
70. Continental Management (63) Bingham Farms, MI 9,306 9,798
71. Picerne Real Estate Group (64) Phoenix, AZ 9,205 25,000
72.^ Maloney Properties Inc. (58) Wellesley, MA 9,081 9,525
73.^ Vesta Corporation (75) Weatogue, CT 9,008 9,903
74. Residential One LLC (68) Columbia, MD 8,939 9,209
75.^ Community Realty Management Inc. (77) Pleasantville, NJ 8,925 9,021
76. Yarco Company Inc. (69) Kansas City, MO 8,831 9,542
77.^ Community Management Corporation (82) Winston-Salem, NC 8,705 8,745
78.^ The Community Builders Inc. (81) Boston, MA 8,638 9,400
79. Eden Housing (73) Hayward, CA 8,526 8,526
80.^ InterMark Management Corporation (83) Columbia, SC 8,505 10,274


<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, 2020. 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 be possible. In particular, sincere appreciation goes to task force chair Amber Day, TrashPro and vice chair Nathan Burnett, Watchtower Security Inc.; Mike Coco, Choice Property Resources Inc.; Leo Delgado, Converged Services Inc.; Naren Dhamodharan, Hampden Park Capital & Consulting; Rue Fox, ResMan; Janel Ganim, ResMan; Charles Holloway, Haven Connect; Ryan Kim, ProLink Solutions; Scott Nelson, RealPage Inc.; Andrew Pieplow, Watchtower Security Inc.; Scott Ployer, National Property Management Strategies Group LLC; Scott Precourt, US Housing Consultants; Greg Proctor, RealPage Inc.; Jeffrey Promnitz, Zeffert & Associates Inc.; Scott Scharlach, Specialty Consultants Inc.; Sarah Wattick, Converged Services Inc.; and John Yang, RentalHousingDeals.com Inc.

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