Latest news with #SharonWilsonGéno
Business Wire
3 days ago
- Business
- Business Wire
Regulation Increases Rent Costs, New Study Finds
WASHINGTON--(BUSINESS WIRE)--A new follow-up study conducted by economists from MetroSight—sponsored by the National Multifamily Housing Council (NMHC) and the National Apartment Association (NAA)—shows that some housing regulations increase the cost of rent, particularly for lower-income renters and those renting from small multifamily properties. This report importantly builds on findings released earlier this year, revealing that overregulation can increase operating costs. 'As housing affordability continues to be a nationwide concern requiring action from state, local and federal lawmakers, this study importantly shows how misguided regulations have the ability to increase monthly costs for renters,' said NAA President and CEO Bob Pinnegar. 'Now more than ever, our nation needs responsible, sustainable policy solutions that, instead of raising costs, work to boost the supply of housing and improve affordability long-term.' 'As the nation continues to confront a housing affordability crisis, it's critical that we understand how sometimes well-intentioned regulations may impact rent levels—particularly for those who can least afford increases,' said NMHC President Sharon Wilson Géno. 'This new research finds that certain policies, while at times designed to protect renters, are associated with higher rents, especially for lower-income households. By bringing these data to light, we and our partners at NAA hope to support a more balanced policy conversation—one that supports renters while improving affordability and expanding the supply of rental housing.' The research specifically analyzed the impact of source-of-income, eviction, resident screening and state preemption laws on rent costs. The study used two distinct and separate datasets, one from CoStar Group – which included market-level data from 391 metros between 2000 and 2024 – and another from the U.S. Census Bureau's American Community Survey (ACS), which featured 307 metros between 2005 and 2023. Some of the report's key findings include: Source-of-income regulations increase rents between 5.2% and 5.3%, or about $876 to $1,104 per unit annually. Eviction laws increase rents between 5.9% and 6.3%, or about $1,092 to $1,224 per unit annually. Resident screening laws increase rents between 1.5% and 3.4%, or about $252 to $708 per unit annually. 'If we want rent regulations to align with affordability, we need to plainly recognize the tensions between them,' said Metrosight Founder and Economist Issi Romem, Ph.D. 'It is striking that we found their cost has fallen hardest on lower-income renters and residents of small apartment buildings—the very people they're meant to support.' To learn more about the research, access the full report. For more than 27 years, the National Multifamily Housing Council (NMHC) and the National Apartment Association (NAA) have partnered on behalf of America's apartment industry. Drawing on the knowledge and policy expertise of staff in Washington, D.C., as well as the advocacy power of 141 NAA state and local affiliated associations, NAA and NMHC provide a single voice for developers, owners and operators of multifamily rental housing. One-third of all Americans rent their housing, and 40 million of them live in an apartment home.
Business Wire
05-08-2025
- Business
- Business Wire
NMHC Statement on FHFA Announcement that the LIHTC Cap Will be Raised
WASHINGTON--(BUSINESS WIRE)--NMHC is pleased to hear that the Federal Housing Finance Agency (FHFA) is authorizing each GSE to annually purchase up to $2 billion in Tax Credit Equity, an increase from their current $1 billion limit, for a combined increase of $2 billion. This significant move will improve housing affordability and expand housing opportunities for those most in need. NMHC appreciates the Trump Administration's commitment to lowering housing costs by expanding housing supply. 'This step by FHFA is great news for housing providers seeking to use LIHTC to build and preserve housing, as well as individuals and families searching for affordable housing opportunities,' said NMHC President Sharon Wilson Géno. 'As someone who has spent more than 30 years working in and advocating for the affordable housing community, I have seen firsthand how LIHTC can be one important tool to help us build the housing America needs.' LIHTC is currently the nation's premier affordable housing production and preservation program. The public-private partnerships created through LIHTC leverage federal dollars with private investment to build affordable rental housing and stimulate new economic development in many communities. Since its inception in 1986, the LIHTC program has financed 4 million apartments and served more than 9.28 million households. This announcement builds on additional good news for LIHTC in the recently enacted reconciliation legislation that permanently enhanced LIHTC authority. The LIHTC changes in the new law are projected to result in 1.22 million additional affordable homes being built or preserved over the next decade. Learn more about LIHTC. Based in Washington, D.C., the National Multifamily Housing Council (NMHC) is where rental housers and suppliers come together to help meet America's housing needs by creating inclusive and resilient communities where people build their lives. We bring together the owners, managers, developers and suppliers who provide rental homes for 40 million Americans from every walk of life—including seniors, teachers, firefighters, healthcare workers, families with children and many others. NMHC provides a forum for leadership and advocacy that promotes thriving rental housing communities for all. For more information, contact NMHC at 202/974-2300, email the Council at info@ or visit NMHC's website at
