Operating expenses for low-income housing tax credit properties have grown in recent years, according to the 2015 edition of the Novogradac Multifamily Rental Housing Operating Expense Report–Survey and Analysis for LIHTC Properties.
From 2012 to 2013, low-income housing tax credit (LIHTC) properties saw median expenses grow 2.98 percent, from $4,356 to $4,486 per unit. Overall, LIHTC properties’ total median operating expenses per unit grew at a compounded annual rate of 2.82 percent from 2010 through 2013.
The report draws from Novogradac & Company’s survey of thousands of multifamily rental housing properties to analyze expense growth by year and across three years. The 2015 edition updates the 2014 edition by adding 2013 data, which expands the number of properties examined to more than 2,100, providing data on more than 241,000 individual units.
