Housing tax credit investments: Investment and operational performance

    Townhouse buildings
    Image of text reading Affordable Housing portfolio performance indicator CohnReznick

    For many years, CohnReznick has tracked the performance of properties financed with federal low-income housing tax credits. The report provides comprehensive data, analysis and insights into the latest performance trends observed across the surveyed portfolio, consisting of more than 21,000 properties. The information can help developers, investors and other industry participants to benchmark portfolios, develop best practices and gain insights into the affordable housing industry. 


    • Fund investment performance

    • Property operating performance, including occupancy (physical and economic), debt coverage ratio (DCR), and per unit cash flow, broken down by factors including:

    o Property age, size, and credit type (4% or 9%)

    o State and location type (metro or nonmetro counties)

    o Tenancy type

    o Availability of rental assistance

    o Hard debt leverage ratio

    • Historical trends 

    • Deep dive into underperforming assets and foreclosure

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    This has been prepared for information purposes and general guidance only and does not constitute legal or professional advice. You should not act upon the information contained in this publication without obtaining specific professional advice. No representation or warranty (express or implied) is made as to the accuracy or completeness of the information contained in this publication, and CohnReznick LLP, and their respective partners, members, employees and agents accept no liability, and disclaim all responsibility, for the consequences of you or anyone else acting, or refraining to act, in reliance on the information contained in this publication or for any decision based on it. CohnReznick LLP and our affiliated entities operating under the CohnReznick brand are separate legal entities that are independently operated.