2022 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, 2021. 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).

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

Rank Management Company
(2021 rank shown in parentheses)
Headquarters Total Number of Units
Subsidized* Residential**
81. J & A, Inc. (82) Corinth, MS 8,390 8,390
82. MACO Management Company, Inc. (63) Malden, MO 8,300 8,300
82. Rose Community Management, LLC (59) Independence, OH 8,300 10,200
84.^ Habitat America, LLC (87) Annapolis, MD 8,276 9,641
85. TRG Management Company, LLP (85) Weston, FL 8,259 20,000
86. Grenadier Realty Group Corporation (27) Brooklyn, NY 8,200 9,300
87. American Apartment Management Co., Inc. (86) Knoxville, TN 8,060 8,312
88. Cushman & Wakefield (90) Addison, TX 7,951 171,713
89.^ Burlington Capital Properties, LLC (113) Omaha, NE 7,700 10,500
90.^ PK Companies, LLC* Okemos, MI 7,670 9,236
91.^ Monroe Group, Ltd. (94)* Denver, CO 7,664 7,664
92. Yarco Companies (76) Kansas City, MO 7,500 11,000
93. BSR Real Estate Investment Trust (91) Little Rock, AR 7,400 9,600
94.^ LHP Capital (92) Knoxville, TN 7,359 7,359
95. Greystar (95) Charleston, SC 7,191 451,180
96.^ Boston, MA 7,131 7,697
97. Capreit Inc. (104) Rockville, MD 7,000 17,000
97. MidPen Housing (81) Foster City, CA 7,000 7,100
97. Silver Tree Residential, LLC (98) Memphis, TN 7,000 7,000
100.^ Housing Management Resources, Inc. (100) Quincy, MA 6,860 7,139
101. Evergreen Real Estate Group (93) Chicago, IL 6,600 6,600
102.^ Arnold-Grounds Apartment Management & Affordable Housing Specialists, LLC (114) Grapevine, TX 6,597 6,597
103. Monarch Properties, Inc. (105) Albuquerque, NM 6,500 8,500
103.^ Residential One, LLC (74) Columbia, MD 6,500 10,000
105. CSI Support & Development (108) Warren, MI 6,265 6,265
106.^ Community Housing Partners Corporation (107) Christiansburg, VA 6,241 6,773
107.^ Alco Management, Inc. (109) Memphis, TN 6,226 6,665
108. Thomas Safran & Associates (112) Los Angeles, CA 6,201 7,805
109.^ GK Management Co., Inc. (106) Culver City, CA 6,200 12,300
109. RY Management Co., Inc. (101) New York, NY 6,200 10,700
111. The Integral Group (110) Atlanta, GA 6,100 6,800
112.^ Guardian Management, LLC Portland, OR 6,015 8,329
113. Columbia Residential Properties, LLC (97) Atlanta, GA 6,000 7,000
114. Hercules Living (115) VA Beach, VA 5,761 8,923
115. Standard Enterprises, Inc. (120) Monroe, LA 5,721 5,957
116.^ Capital Realty Group, Inc. (24) Spring Valley, NY 5,500 6,500
117. Greystone Property Management Corporation (111) Indianapolis, IN 5,400 7,300
118.^ Ambling (118) Valdosta, GA 5,345 10,113
119. FOURMIDABLE (117) Bingham Farms, MI 5,224 7,152
120. The Eagle Point Companies South Portland, ME 5,104 5,144

<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, 2021. 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.; Guthrie Alberts, Paysafe; Joseph Anderson, The Buckner Company; Andrew Boyle, New Hampshire Housing Finance Authority; Mike Coco, Choice Property Resources Inc.; Leo Delgado, Converged Services Inc.; Rue Fox, ResMan; Janel Ganim, ResMan; Eddie Garrett, McGriff Insurance; Tracey Gray, Watchtower Security; Jenny Hidalgo, Omnia Partners; Babbie Jaco, CAHEC Management; Jennifer Kelly, MRI Software; Mark Livanec, Yardi Systems; Carlita Mendez, CMS; Scott Nelson, RealPage Inc.; Andrew Pieplow, Watchtower Security; Scott Ployer, National Property Management Strategies Group LLC; Greg Proctor, Lumina Partners LLC; Jeffrey Promnitz, Zeffert & Associates Inc.; Scott Scharlach, Columbus Metropolitan Housing Authority; Christopher Voss, Yardi Systems; 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.