Multifamily Rental Housing Operating Expense Report, 2022 Print Edition

Print Edition
Report Cover - 2022 Novogradac Multifamily Rental Housing Operating Expense Report

The Multifamily Rental Housing Operating Expense Report, 2022 Edition, provides an updated, in-depth look at the cost of operating and rental income for low-income housing tax credit (LIHTC) properties from a year during which the United States was recovering from the worst of the COVID-19 pandemic. Developers, investors and property managers can gain a deeper understanding of what happened and what to expect.

The 2022 Multifamily Rental Housing Operating Expense Report – Survey and Analysis of LIHTC Properties uses data from more than 1,200 properties that include nearly 125,000 individual apartment units to illustrate how rental housing properties’ expenses and income differ over time, as well as by property size, type and location. The report pays special focus to expense categories that saw significant increase, including property insurance and repairs and maintenance. The 2022 edition includes more information on rental income than in previous editions, helping provide perspective for stakeholders.

The report shows how the COVID pandemic and other factors changed expense patterns and provides insight into what property owners and managers should expect in coming years. The report also provides explanations and exceptions while diving into regional and national trends to create a valuable benchmarking tool for LIHTC developers, investors, property managers and others.

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