Affordable 100 – Page 2

2024 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 Sections 515 and 538, 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, 2023. 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 and 538) property management companies (see the link below for more details). 

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

​

Rank Management Company
(2023 rank shown in parentheses)		 Headquarters Total Number of Units
Subsidized* Residential**
41. Hallmark Management, Inc. (43) Atlanta, GA 13,579 15,164
42. ^ Fairstead Management* (39) New York, NY 13,405 18,900
43. United Apartment Group (42) San Antonio, TX 13,000 18,000
44. S.L. Nusbaum Realty Co. (23) Norfolk, VA 12,886 29,862
45. ^ Partnership Property Management (55) Greensboro, NC 12,747 12,889
46. ^ Wallick Communities New Albany, OH 12,562 13,678
47. The NRP Group, Inc. (45) Cleveland, OH 12,500 20,500
48. ^ Preservation of Affordable Housing, Inc. (49) Boston, MA 12,371 12,747
49. Woda Cooper Companies, Inc. (35) Columbus, OH 12,233 12,375
50. McCormack Baron Management, Inc. (48) St. Louis, MO 11,695 15,259
51. ^ Peabody Properties, Inc. (51) Braintree, MA 11,621 15,074
52. Pennrose (57) Philadelphia, PA 11,606 12,591
53. Peak Living (52) Provo, UT 11,600 31,500
54. Enterprise Residential, LLC (53) Baltimore, MD 11,589 11,589
55. Lincoln Property Company (54) Dallas, TX 11,500 204,000
56. NDC Real Estate Management, Inc. (56) Pittsburgh, PA 11,345 11,457
57. Wilhoit Properties (58) Springfield, MO 11,100 12,100
58. Evergreen Real Estate Group (59) Chicago, IL 11,000 11,350
59. Kittle Property Group, Inc. (44) Indianapolis, IN 10,872 15,012
60. Avanath Realty, Inc. (62) Irvine, CA 10,800 10,800
61. Bloomington, IN 10,771 14,492
62. ^ Solari Enterprises, Inc. (66) Orange, CA 10,635 10,635
63. ^ Habitat America, LLC Annapolis, MD 10,577 11,727
64. USA Properties Fund, Inc. (65) Roseville, CA 10,412 11,782
65. Auburn, CA 10,338 10,358
66. Eden Housing (68) Hayward, CA 10,000 10,000
66. Picerne Management (68) Altamonte Springs, FL 10,000 21,600
68. ^ The Community Builders, Inc. (74) Boston, MA 9,920 10,878
69. Pedcor Management Corporation (72) Carmel, IN 9,500 17,300
70. Elmington Property Management (22) Nashville, TN 9,478 25,218
71. ^ Seldin, LLC (59) Omaha, NE 9,469 19,124
72. ^ Maloney Properties, Inc. (71) Wellesley, MA 9,283 9,440
73. ^ Pleasantville, NJ 9,210 9,376
74. MACO Management Company, Inc. (75) Clarkton, MO 9,100 9,600
75. Barker Management, Inc. (77) Anaheim, CA 9,000 10,000
75. Continental Management (77) Bingham Farms, MN 9,000 9,700
77. ^ Denver, CO 8,925 8,925
78. Cambridge Management, Inc. (91) Tacoma, WA 8,910 9,159
79. ^ National Community Renaissance (79) Rancho Cucamonga, CA 8,847 9,444
80. RLJ Management Co., Inc. (80) Columbus, OH 8,765 8,810


<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, 2023. 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.; Amber Day, TrashPro; Leo Delgado, Converged Services Inc.; Sheldon Farnes, FJ & Associates PLLC; Rue Fox, ResMan; T.J. Golson, ResMan; Tracey Gray, Watchtower Security; Tammy Hunter, Choice Property Resources; Barbara (Babbie) Jaco, CAHEC Management Inc.; Julie Klein, Watchtower Security; Mark Livanec, Yardi; Alex Marram, Yardi; Scott Nelson, RealPage Inc.; Andrew Pieplow, Watchtower Security; Scott Ployer, National Property Management Strategies Group; Andy Reithel, Lumina Partners LLC; and Mary Beth, Snyder, Yardi.

For logo sponsorship opportunities, please email Paul Walley at PWalley@naylor.com.

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