Americas 0:57:54
Webinar Summary:
In this webinar, learn about a new report that refutes the current misconception that rental apartments priced for the middle-income workforce—such as teachers, nurses, and first responders—have a lower return on investment than apartments with higher rent levels, paving the way for Moderate-Income Rental Housing to be a competitive ESG investment. The report, sponsored by Affordable Central Texas and the Wells Fargo Foundation, defines a new asset class as Moderate-Income Rental Housing (MIRH), or large, multifamily rental properties occupied by tenants earning between 60 percent and 120 percent of the Median Family Income (MFI) with at least half the residents earning less than 80% of MFI. Analyzing data since 2011, the report demonstrates MIRH assets outperformed rental properties with higher rents, averaged an unleveraged return of 9.4 percent, and had the lowest risk, 2.6 percent spread when compared to other real estate asset classes. The research was prepared by Mark G. Roberts, Director of Research at the Folsom Institute for Real Estate at Southern Methodist University and Crow Holdings, and Jake Wegmann, Associate Professor at the Community & Regional Planning Program at the University of Texas at Austin School of Architecture.

Webinar Summary: In this webinar, learn about a new report that refutes the current misconception that rental apartments priced for the middle-income workforce—such as teachers, nurses, and first responders—have a lower return on investment than apartments with higher rent levels, paving the way for Moderate-Income Rental Housing to be a competitive ESG investment. The report, sponsored by Affordable Central Texas and the Wells Fargo Foundation, defines a new asset class as Moderate-Income Rental Housing (MIRH), or large, multifamily rental properties occupied by tenants earning between 60 percent and 120 percent of the Median Family Income (MFI) with at least half the residents earning less than 80% of MFI. Analyzing data since 2011, the report demonstrates MIRH assets outperformed rental properties with higher rents, averaged an unleveraged return of 9.4 percent, and had the lowest risk, 2.6 percent spread when compared to other real estate asset classes. The research was prepared by Mark G. Roberts, Director of Research at the Folsom Institute for Real Estate at Southern Methodist University and Crow Holdings, and Jake Wegmann, Associate Professor at the Community & Regional Planning Program at the University of Texas at Austin School of Architecture.

RELATED
Report

ULI Real Estate Economic Forecast – Spring 2025

The latest semi-annual ULI Real Estate Economic Forecast was completed on May 5, 2025, and is the result of surveying 36 leading real estate economists and analysts from 29 real estate organizations. They provide their three-year forecasts—to the end...
Report

Development for Nondevelopers

Development for Nondevelopers was informed by ULI members and partners‚ including both developers and nondevelopers‚ to provide an overview of essential information about the real estate development process. It aims to outline the basics of real esta...
Case Study

C Change Case Studies: Transition Risk Assessment Guidelines

To encourage the adoption of the Transition Risk Assessment Guidelines at scale, ULI is working with its members to pilot the guidelines on their real assets and share the results in a series of case studies.
Topics