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**
81. MidPen Housing (74) Foster City, CA 8,500 8,500
82. J & A Inc. (76) Corinth, MS 8,390 8,390
83. AWI Management Corporation (65) Auburn, CA 8,306 8,307
84. National Community Renaissance (78) Rancho Cucamonga, CA 8,292 8,292
85. TRG Management Company LLP (80) Weston, FL 8,259 20,000
86. American Apartment Management Co. Inc. (84) Knoxville, TN 8,060 8,312
87. Annapolis, MD 8,055 9,022
88. Solari Enterprises Inc. (79) Orange, CA 8,000 8,000
89. RLJ Management Co. Inc. (85) Columbus, OH 7,974 8,225
90. Cushman & Wakefield Addison, TX 7,951 171,713
91. BSR Real Estate Investment Trust (87) Little Rock, AR 7,400 9,600
92.^ LHP Capital (90) Knoxville, TN 7,359 7,359
93. Evergreen Real Estate Group (89) Chicago, IL 7,333 8,000
94.^ Monroe Group Ltd. (94) Denver, CO 7,292 7,292
95. Greystar (90) Charleston, SC 7,191 669,137
96.^ HallKeen Management (91) Norwood, MA 7,162 8,830
97. Columbia Residential Properties LLC (110) Atlanta, GA 7,025 8,369
98. Silver Tree Residential LLC (92) Memphis, TN 7,000 7,000
99. Cascade Management Inc. Portland, OR 6,997 7,301
100.^ Housing Management Resources Inc. (97) Quincy, MA 6,860 7,139
101. RY Management Co. Inc. (93) New York, NY 6,750 9,000
102.^ Boston, MA 6,738 7,648
103. Peak Living (98) Pleasant Grove, UT 6,481 15,925
104. Capreit Inc. (99) Rockville, MD 6,434 40,000
105. Monarch Properties Inc. (104) Albuquerque, NM 6,393 8,620
106.^ GK Management Co. Inc. (101) Culver City, CA 6,300 13,000
107.^ Community Housing Partners Corporation (102) Christiansburg, VA 6,241 6,773
108.^ CSI Support & Development (100) Warren, MI 6,169 6,169
109.^ Alco Management Inc. (106) Memphis, TN 6,115 6,530
110.^ The Integral Group (103) Atlanta, GA 6,100 6,800
111. Greystone Property Management Corporation (105) Indianapolis, IN 6,000 7,600
112. Thomas Safran & Associates (112) Los Angeles, CA 6,000 6,200
113.^ Burlington Capital Properties LLC Omaha, NE 5,874 10,968
114.^ Arnold-Grounds Apartment Management & Affordable Housing Specialists LLC (116) Grapevine, TX 5,843 5,843
115. Hercules Living (108) Virginia Beach, VA 5,761 8,923
116.^ TESCO Properties Inc (107) Germantown, TN 5,621 6,701
117. Fourmidable (114) Bingham Farms, MI 5,421 6,849
118. Ambling (111) Valdosta, GA 5,345 10,113
119. Medallion Management Inc. (113) Kalamazoo, MI 5,217 5,403
120. Standard Enterprises Inc. (109) Monroe, LA 5,206 5,442

<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.