National Multifamily Housing Council (NMHC) published its Housing Affordability Toolkit.

Top Findings Include:

  • The Housing Credit has financed approximately 8% of the nation’s rental housing supply, yet 22.4 million renter households remain cost-burdened.
  • The report recommends addressing the housing affordability crisis through a combination of:
    • Developing new subsidized rental housing and increasing rental assistance programs (for existing and new private housing such as LIHTC) ;
    • Creating and preserving naturally occurring affordable housing (NOAH) and other unsubsidized affordable housing options; and
    • Reducing local regulatory barriers to increase market-rate housing production and ease rent pressures.
      • Research from the National Multifamily Housing Council (NMHC) and the National Association of Home Builders (NAHB) found that regulation accounts for an average of 40.6% of the cost of developing a new apartment building with five or more units.