At last, good news for affordable housing! The market is strong and getting even stronger for properties with low rents, including apartments built with government funds for low-income families.
“We’re seeing vacancy rates at record lows,” says Bryan Keller, CPA, partner-in-charge of RubinBrown’s Real Estate Services Group, which has just released its 2012 Apartment Statistical Data report.
RubinBrown surveys a unique slice of the housing market—so don’t throw its data onto the pile with reports from other number crunchers like Reis Inc., and Axiometrics Inc. Of the 407 properties surveyed by RubinBrown, 372 were “government-assisted” housing, including 363 built with federal low-income housing tax credits. The other, unsubsidized apartment properties in the report are also relatively inexpensive, with average rents of $674 a month, which is even lower than the $721 a month average for the subsidized apartments.
Read more...Affordable Housing is Going Strong via NREIonline.com
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