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Idaho Conference on Housing and Economic Development

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Presentation on theme: "Idaho Conference on Housing and Economic Development"— Presentation transcript:

1 Idaho Conference on Housing and Economic Development
for the Trends in Rental Housing Workshop Rachel Denton, MAI Partner, Kansas City Novogradac & Company LLP March 6, 2018

2 National Overview Focus on Idaho Operating Expenses Agenda
March 6, 2018

3 U.S. National Housing Unit Vacancy
U.S. Median Household Rent Source: CoStar Group; Novogradac & Company LLP Note: represent projections March 6, 2018

4 Gross Rent as a Percentage of Household Income
Source: American Community Survey 2016; Novogradac & Company LLP March 6, 2018

5 Affordable and Available Units per 100 Households at or Below Threshold
Source: National Low-Income Housing Coalition; Novogradac & Company LLP March 6, 2018

6 U.S. National Apartment Inventory
FLATTEN OUT SHARP INCREASE Source: CoStar Group; Novogradac & Company LLP Note: represent projections March 6, 2018

7 Multifamily Starts vs. Units Allocated LIHTC
Source: NAHB; NCSHA; Novogradac & Company LLP March 6, 2018

8 New Per Capita LIHTCs Available Each Year
Growth of the per capita rate for calculating low-income housing tax credit (LIHTC) caps and the total amount of 9 percent LIHTCs available to states and territories. Source: Calculated by Novogradac & Company LLP from U.S. Census population figures ( ) and IRS Notices and Revenue Procedures ( ) March 6, 2018

9 Comparing Total Rental Units and Total LIHTC Units
March 6, 2018

10 March 6, 2018

11 Historical LIHTC Pricing Trends
March 6, 2018

12 March 6, 2018

13 Boise, ID Market Overview
March 6, 2018

14 Demographic Trends March 6, 2018

15 Rent Trends March 6, 2018

16 317 533 5.1% 6.3% Overview 12 Mo. Delivered Units
12 Mo. Absorption Units Vacancy Rate 12 mo. Asking Rent Growth Source: CoStar; Novogradac & Company LLP March 6, 2018

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20 Operating Expenses March 6, 2018

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30 Idaho Conference on Housing and Economic Development
for the Trends in Rental Housing Workshop Rachel Denton, MAI Partner, Kansas City Novogradac & Company LLP March 6, 2018


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