Affordable 100 Specialty Lists

2024 NAHMA Affordable 100 Specialty Lists

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 (Sections 515 and 538) property management companies. 

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

25 Largest Housing Credit (LIHTC) Property Management Companies

Rank Management Company Headquarters Housing Credit Units*
1. FPI Management, Inc. Folsom, CA 54,475
2. ^ WinnCompanies Boston, MA 48,256
3. ^ The Michaels Organization Camden, NJ 38,282
4. Asset Living Houston, TX 34,590
5. The John Stewart Company San Francisco, CA 26,694
6. Capstone Real Estate Services, Inc. Austin, TX 24,837
7. The Franklin Johnston Group Virginia Beach, VA 23,999
8. ConAm Management Corporation San Diego, CA 23,646
9. KMG Prestige, Inc. Mt. Pleasant, MI 21,840
10. ^ Mercy Housing Denver, CO 17,387
11. Royal American Management, Inc. Panama City, FL 17,194
12. The Richman Group, Inc. Tampa, FL 16,837
13. Fairfield Residential San Diego, CA 16,040
14. Gateway Management Company Birmingham, AL 15,186
15. ^ MMS Group Suffern, NY 14,562
16. ^ CAHEC Management, Inc. Columbia, SC 14,213
17. Conifer Realty, LLC Rochester, NY 14,006
18. ^ Aperto Property Management, Inc. Irvine, CA 13,220
19. Envolve Client Services Group / Envolve Communities Memphis, TN 13,055
20. ^ National Church Residences Columbus, OH 12,984
21. Woda Cooper Companies, Inc. Columbus, OH 12,354
22. Mayfair Management Group Dallas, TX 11,906
23. S.L. Nusbaum Realty Co. Norfolk, VA 11,470
24. McCormack Baron Management, Inc. St. Louis, MO 11,102
25.  Enterprise Residential, LLC Baltimore, MD 10,964

 

25 Largest Rural Development (Sections 515 and 538) Property Management Companies

Rank Management Company Headquarters RD Units*
1. Hallmark Management, Inc. Atlanta, GA 14,123
2. CAHEC Management, Inc. Columbia, SC 11,789
3.  TM Associates Rockville, MD 10,544
4. ^ The Michaels Organization Camden, NJ 8,812
5. J & A, Inc. Corinth, MS 8,371
6. ^ Partnership Property Management Greensboro, NC 7,302
7.  AWI Management Corporation Auburn, CA 7,134
8. ^ Winterwood, Inc. Lexington, KY 6,346
9. Hamilton Valley Management, Inc. Burnet, TX 4,132
10.  Woda Cooper Companies, Inc. Columbus, OH 3,608
11. Viridian Management, Inc. Enterprise, OR 3,208
12. Royal American Management, Inc. Panama City, FL 3,164
13. MAC Real Estate, LLC Metairie, LA 2,159
14. Severn Management Company, LLC Annapolis, MD 1,720
15.  Conifer Realty, LLC Rochester, NY 1,512
16. ^ Community Management Corporation Winston-Salem, NC 1,062
17. Cascade Management, Inc. Portland, OR 994
18. Hyder & Company San Marcos, CA 833
19. ^ WinnCompanies Boston, MA 754
20.  Olympia Management, Inc. Albertville, AL 750
21. Monarch Properties, Inc. Albuquerque, NM 744
22. Northwest Real Estate Capital Corp. Boise, ID 580
23. ^ Intermark Management Corporation Columbia, SC 548
24. Mayfair Management Group Dallas, TX 546
25. ^  Preservation Management, Inc. South Portland, ME 528


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

^ A NAHMA Communities of Quality National Recognition Program Participant

* 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. 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.

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.