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>

RankManagement Company
(2020 rank shown in parentheses)
HeadquartersTotal Number of Units
Folsom, CA50,432129,492
2.^WinnCompanies (1)Boston, MA46,687101,233
3.^The Michaels Organization (3)Camden, NJ37,95754,387
4.^Related Companies (4)New York, NY37,11962,728
5. ^Envolve Communities LLC (7)Memphis, TN32,62332,623
6.^Dominium (5)Plymouth, MN31,36634,784
7.The John Stewart Company (6)San Francisco, CA30,42933,315
8.^Millennia Housing Management Ltd. (11)Cleveland, OH26,09630,649
9.KMG Prestige Inc. (8)Mt. Pleasant, MI25,20228,901
Alexandria, VA25,00025,000
Houston, TX24,510103,063
12.^Mercy Housing Management Group (10)Denver, CO24,01424,014
13.Capstone Real Estate Services Inc. (14)Austin, TX23,73337,000
14.Edgewood Management Corporation (12)Gaithersburg, MD22,39826,345
15.Formerly Alpha Barnes Real Estate Services (13), now owned by Asset LivingDallas, TX22,31929,308
Suffern, NY21,80340,133
17.^National Church Residences (15)Columbus, OH21,21021,735
18.The NRP Group (17)Cleveland, OH20,00040,000
19.^ConAm Management Corporation (18)San Diego, CA19,93050,177
20.McCormack Baron Management Inc. (20)St. Louis, MO18,43522,224
21.^Royal American Management Inc. (19)Panama City, FL17,09918,083
Birmingham, AL16,64819,982
23.Allied Orion Group (26)Houston, TX16,51324,529
24.^Capital Realty Group Inc. (25)Spring Valley, NY16,15216,152
Tacoma, WA15,47516,809
26.Kittle Property Group Inc. (29)Indianapolis, IN14,64217,687
27.Grenadier Realty Group Corporation (23)Brooklyn, NY14,58117,523
28.Richman Property Services Inc. (22)Tampa, FL14,00019,800
29.Conifer Realty (30)Rochester, NY13,93315,141
30.Retirement Housing Foundation (27)Long Beach, CA13,88018,188
31.The Cornerstone Group (27)Hollywood, FL13,60713,786
32.Gene B. Glick Company (33)Indianapolis, IN13,33719,843
33.Independent Management Services (31)Fenton, MI13,30413,304
34.Pedcor Management Corporation (32)Carmel, IN13,27516,745
Columbia, SC13,22513,225
36.^POAH Communities (40)Boston, MA12,58312,782
37.Woda Cooper Companies Inc. (42)Columbus, OH12,58012,802
38.The Habitat Company (37)Chicago, IL12,51222,897
Rockville, MD12,42113,822
40.Elmington Property Management (66)Nashville, TN12,25731,630

<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.