Market Studies

NCAHMADirectory of Market Study Providers

Below is a listing of NCAHMA members who provide independent, third party market studies for affordable housing. Market studies provided by NCAHMA members are completed in accordance with the Council’s guidelines, and reflect NCAHMA’s continuing education program, research and best practices.

* indicates completed NCAHMA approved peer review process.


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ALCA Associates*
Westerville, Ohio

Contact(s):
Allan Forsythe
614-794-4900
Allgeier Company*
Louisville, Kentucky

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Contact(s):
M.A. Allgeier
502-585-3651
John Cloern
502-585-3651

Allgeier Company, the largest commercial appraisal firm in its region, provides market studies for a variety of property types, with a focus in multi-family residential studies, and more specifically, affordable housing market studies. Allgeier Company serves the entire Midwest and peripheral states.
BJ Cockrell Real Estate Appraisal & Consulting*
Milton, Massachusetts

Contact(s):
Bea J. Cockrell
617-698-6618

We complete marketability studies, market studies, asset management analyses and disposition analyses for affordable housing market interests throughout the US. Our consultancy focuses on housing market studies and using valuation analysis skills for acquisition and disposition advisory assignments.
CB Richard Ellis
Chicago, Illinois

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Contact(s):
Randal Dawson MAI
312-233-8685
Community Research Services, LLC*
Okemos, Michigan

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Contact(s):
Kelly Murdock
517-827-6411
Jamee Zielke

Ernst & Young LLP*
Boston, Massachusetts

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Contact(s):
Douglas Koch, MAI
617-867-2918
GAR Associates, Inc.*
Amherst, New York

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Contact(s):
M. Scott Allen
716-691-7100 x3019
Gill Group, Inc.*
Dexter, Missouri

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Contact(s):
Cash Gill
573-624-6614
Goldrush Realty Advisors, Inc.*
San Juan Capistrano, California

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Contact(s):
William Drewes
949-487-7939
Goldrush Realty Advisors, Inc.*
Escondido, California

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Contact(s):
Michael J. Thiel
760-489-8787
Ken Wilson
510-336-0052
Goldrush Realty Advisors, Inc.*
Oakland, California

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Contact(s):
Susan M. Burnett
510-336-0052
Integra Realty Resources*
Tulsa, Oklahoma

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Contact(s):
Owen S. Ard
918-492-4844
Integra Realty Resources*
Dallas, Texas

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Contact(s):
Charles A. Bissell
972-960-1222
Integra Realty Resources*
Cranberry, Pennsylvania

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Contact(s):
Paul Griffith
724-742-3385
Integra Realty Resources*
Beltsville, Maryland

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Contact(s):
Patrick Kerr
301-586-9320
Integra Realty Resources*
Lutherville, Maryland

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Contact(s):
H. Page Kimball
410-561-9320 x1111
John Wall and Associates*
Anderson, South Carolina

Contact(s):
Robert C. Rogers
864-261-3147
John Wall
864-261-3147

John Wall and Associates has very extensive experience in providing accurate and reliable professional market studies throughout the United States. We have offices in North and South Carolina. We specialize in market studies for tax credit and conventional properties – our clients include developers, financial institutions, syndicators, etc. We also provide sophisticated data acquisition and mapping services.
Kirk & Company*
Boston, Massachusetts

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Contact(s):
David S. Kirk
617-261-7100
Kevin Teller
617-261-7100
Laurin Associates, a division of Raney Planning & Management, Inc.
Citrus Heights, California

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Contact(s):
Barry Polster
916-725-1181
Lea & Company
Redondo Beach, California

Contact(s):
Byron Lea, MAI
816-582-1772
Robin Weck, MAI
916-361-6600

Lea & Company provides Affordable Housing Valuation and Consulting Solutions within the Affordable Housing Industry. Lea & Company provide a wide range of specialized services designed to meet the needs of our clients. The Partners of Lea & Company are experienced in the interpretation of the myriad of rules, regulations and procedures affecting valuation issues within the dynamic affordable housing industry. Our clients include developers, lenders, government agencies, investors and tax-credit syndication firms. These services include tax credit application market studies and appraisals, lender appraisals and feasibility consulting. We work extensively with proposed and existing family and senior LIHTC properties, USDA Rural Development properties and HUD properties, including the Mark-To-Market program providing Rent Comparability Studies and MAP program valuation services. While we work nationally, we incorporate local and regional market expertise through consulting agreements with Appraisal Institute members within regional markets to provide the 'location specific knowledge' only available from local valuation experts.
Ludwig Corporation*
Conshohocken, Pennsylvania

Contact(s):
Gail F. Lubeck
610-828-9000
Barry S. Ludwig
610-828-9000
M.E. Shay & Company*
Sacramento, California

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Contact(s):
Mary Ellen Shay
916-444-0288
MacDonald Associates, Inc.
Bath, Maine

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Contact(s):
Tom MacDonald
207-443-3600
Mary Anne Schneider
207-443-3600

The mission of MacDonald Associates, Inc. is to provide leadership for non-profits and for profits to maximize resources to preserve affordable housing for all populations. In doing so, MacDonald Associates, Inc. will encourage the prudent investment and management of public and private financing to encourage construction, preservation, rehabilitation, and development of affordable housing for all populations. MacDonald Associates, Inc. offers a unique alliance of knowledgeable and experienced real estate professional expertise in real estate development, underwriting, management, and restructuring/workouts. In combination with a variety of financing products including LIHTC, RD, HUD, HOME, tax exempt, state and local subsidies and conventional financing, MacDonald Associates, Inc. will provide real estate development expertise to non-profits and for profits to assist in delivering housing options. Asset management services will focus on the operational procedures and policies, financial feasibility and compliance adherence to regulations.
Mitchell Appraisals, Inc.
Indianapolis, Indiana

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Contact(s):
Bonnie Mitchell
317-687-2744
Liza Mutzl
317-687-2747
Jennifer Atkinson
317-687-2747
National Land Advisory Group*
Columbus, Ohio

Contact(s):
Richard Barnett
614-545-3900

NLAG is engaged in market research services to development/financed professionals and state housing agencies. NLAG researches residential markets for growth potential/investment opportunities for conventional/assisted housing developments, and for family and elderly facilities. Housing analyses have been conducted for LIHTC, HUD and RDA programs. Research activity is conducted on a national basis.
Novogradac & Company LLP*
Bethesda, Maryland

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Contact(s):
H. Blair Kincer, MAI
240-235-1701
Brad Weinberg, MAI, CCIM
240-235-1701

The Novogradac Government Consulting and Valuation advisory Group (GoVal Group) provides comprehensive real estate advisory services to all levels of government (federal, state and local), as well as the private sector.
PGP Valuation, Inc.
Seattle, Washington

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Contact(s):
John A. Campbell
206-343-7477
Pleasantville Housing Development Fund Co., Inc.*
Pleasantville, New York

Contact(s):
Richard J. Lampert
914-747-3412
Prior & Associates*
Denver, Colorado

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Contact(s):
Darrin Hittle
303-861-2728
John Prior
303-861-2728
Real Estate Strategies, Inc./RES Advisors*
Paoli, Pennsylvania

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Contact(s):
Elizabeth M. Beckett
610-240-0820
Margaret Sowell
610-240-0820
Real Property Research Group, Inc.*
Columbia, Maryland

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Contact(s):
Bob Lefenfeld
410 772-1004

With offices in Washington/Baltimore and Atlanta, RPRG assists developers and financial institutions in maximizing real estate development opportunities and minimizing risks by providing clear comprehensive market analyses. We specialize in market feasibility studies throughout the U.S. for seniors' and family LIHTC and market-rate rental housing. We also assist our clients in properly positioning their products within the marketplace, bringing to bear 25 years of experience in observing and interpreting demand and supply trends.
Real Property Research Group, Inc.*
Woodstock, Georgia

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Contact(s):
Tad Scepaniak
770-517-2666

With offices in Washington/Baltimore and Atlanta, RPRG assists developers and financial institutions in maximizing real estate development opportunities and minimizing risks by providing clear comprehensive market analyses. We specialize in market feasibility studies throughout the U.S. for seniors' and family LIHTC and market-rate rental housing. We also assist our clients in properly positioning their products within the marketplace, bringing to bear 25 years of experience in observing and interpreting demand and supply trends.
Ribbon Demographics & Housing Analysis, LLC*
Glenwood Springs, Colorado

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Contact(s):
Julia Lavigne
970-366-4256

Ribbon Demographics is the sole source for HISTA DATA, demographic data with households broken down by income, size, tenure and age specifically designed for accurate analysis of affordable housing markets. HISTA Data is invaluable for market study providers, reviewers and anyone needing to confirm the presence of eligible households in any market area in the USA. We also offer a full range of demographic and psychographic data analysis and market analysis services to help developers, governmental agencies and financial institutions select the best properties and design optimum projects. Specializing in housing market analysis for over 15 years, our experience in all types of markets around the nation combined with the power of HISTA and other high quality data allows us to provide thorough and reliable reports.
RLJ & Company*
Roswell, Georgia

Contact(s):
Randy L. Josepher
770-640-7313
Value Research Group, LLC*
Livingston, New Jersey

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Contact(s):
Robin Weiss
973-422-9800 x16
Richard E. Polton
973-422-9800
Virchow, Krause and Company, LLP*
Madison, Wisconsin

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Contact(s):
Michael Hershberger
608-240-2390
David Haviland
608-240-2353
Vogt, Williams & Bowen, LLC*
Columbus, Ohio

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Contact(s):
Robert Vogt
614-225-9500
Tim Williams
614-225-9500
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