The COVID-10 crisis is leading to economic uncertainty and it is predicted will result in an economic recession. Yet, according to studies, the low-income housing sector won't be greatly affected and will recover quicker than other real estate categories.
Skeptical? Let's take a look at the historical data.
According to a recent report by Novogradac, a national accounting and consulting firm, occupancy rates and rental income at low-income housing tax credit properties recover quickly after economic downturns. Their survey, containing more than 1000,000 individual properties indicates that the national occupancy rates for two-bedroom LIHTC properties for residents at or below 60 percent of the area median income never dropped below 95 percent from 2009-2019 (the period studied). And starting in 2009 there was a gradual increase through 2019.
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