HAI Group Blog

Insurance, Risk Management, and Professional Development Tips for the Affordable Housing Industry.

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Affordability

Interested in Preserving Naturally Occurring Affordable Housing in Your Community? Hear from Two Organizations Doing Just That.

While the terms ‘subsidized’ and ‘affordable’ often go hand in hand when most people think about the U.S. affordable housing stock, the reality is that only 25 percent of the country’s affordable rental units receive government subsidies. The other 75 percent is known as naturally occurring affordable housing, or NOAH. NOAH refers to rental properties that are affordable to low- and moderate-income families due to the properties’ age, amenities, physical condition, or location in lower-cost markets. But, despite their vast presence, these properties are at a high risk of disappearing due to redevelopment, disrepair, and economic instability. HAI Group’s Staci Canny talked to Dr. Hilary Lopez, executive director of Reno Housing Authority in Nevada, and Dunni T. Cosey Gay, director of the Preservation Compact, a Chicago-area policy collaborative, to hear how their organizations have found success with preserving NOAH in their respective communities as a complement to subsidized housing. 

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Study Predicts Huge Apartment Demand, Difficulties Keeping Units Affordable

A new study commissioned by the National Apartment Association and the National Multifamily Housing Council projects the need for 4.3 million new apartments by 2035 to keep up with expected demand but notes that due to housing underproduction after the 2008 financial housing crisis, keeping new units affordable will be a challenge.

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