{"id":8276,"date":"2024-12-06T11:03:00","date_gmt":"2024-12-06T11:03:00","guid":{"rendered":"https:\/\/www.yardimatrix.com\/blog\/?p=8276"},"modified":"2025-02-07T11:27:38","modified_gmt":"2025-02-07T11:27:38","slug":"affordable-housing-market-report-november-2024","status":"publish","type":"post","link":"https:\/\/www.yardimatrix.com\/blog\/affordable-housing-market-report-november-2024\/","title":{"rendered":"Affordable Housing Market Report \u2013 November 2024"},"content":{"rendered":"\n

Read the latest Yardi Matrix Affordable Housing Market Report<\/a><\/strong>.<\/p>\n\n\n\n

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Expenses and income for the average U.S. affordable housing unit were up 6.4% and 7.2% year-over-year in September, respectively, according to the latest Yardi Matrix affordable housing market report.<\/em><\/p>\n\n\n\n

Report highlights:<\/h2>\n\n\n\n
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  • For the average U.S. affordable housing unit, expenses were up 6.4% year-over-year in September.<\/li>\n\n\n\n
  • Insurance and marketing disproportionately affected affordable costs.<\/li>\n\n\n\n
  • Income per unit rose 7.2% year-over-year through September at affordable assets.<\/li>\n\n\n\n
  • Affordable properties\u2019 net operating income spiked 8.1% per unit year-over-year as of September.<\/li>\n<\/ul>\n\n\n\n

    Costs and income on the rise for affordable housing properties<\/h2>\n\n\n\n

    As of September, expenses increased on average by 6.4% year-over-year per affordable U.S. multifamily unit. Although expenses were up, the index seems to be softening. For the full calendar year of 2023, the affordable properties\u2019 cost growth was 8.2%, while for the year prior, the figure stood at 7.7%. As of September, the highest average expenses at affordable assets were registered in New York ($14,485), Boston ($13,240) and San Francisco ($10,662). Conversely, the lowest expenditures were in Orlando ($5,773), Las Vegas ($6,000) and San Antonio ($6,095).<\/p>\n\n\n\n