Portfolio Health
Overview
Across the country, subsidized multifamily affordable housing is facing growing financial and physical distress. Long characterized by razor-thin operating margins, affordable housing portfolios have become increasingly vulnerable as the impacts of COVID-19 collided with rising operating costs, deferred maintenance, insurance volatility, staffing shortages, and broader market pressures.
Portfolio health has emerged as a critical lens for understanding these challenges at scale—helping owners, funders, and policymakers identify risks early, prioritize resources, and sustain long-term affordability for residents and communities.
Illinois Portfolio Health Initiative
Beginning in the summer of 2024, the Illinois Housing Council (IHC), in partnership with the Preservation Compact, launched the Portfolio Health Initiative, a statewide effort to assess the financial and operational health of Illinois’ affordable housing portfolio.
Portfolio Health Initiative: Year 1 Report
January 2026
The Report focuses on documenting the challenges facing government-assisted housing providers and the broader subsidized housing ecosystem, including insights from housing providers, lenders, and public-sector partners.
Portfolio Health Data Analysis Report
January 2026
To compliment the Year 1 Report, lHC conducted an in-dept analysis of financial audit data from the Low-Income Housing Tax Credit properties throughout Illinois.
Government Assisted Affordable Housing Analysis & Reports
| January 2026 | Distress in New York’s Affordable Housing Stock Enterprise Community Partners |
| July 2025 | Avoiding the Domino Effect | Evaluating the Physical Conditions of Aging Permanent Supportive Housing Sites Enterprise Community Partners |
| May 2025 | Redesign Required: Lessons for Permanent Supportive Housing from Skid Row Housing Trust Buildings |
| February 2025 | Using Data to Characterize Distress on Regulated Properties and Housing Providers Minnesota Housing Stability Coalition |
| December 2024 | Understanding Resident Perspectives on Distressed Properties Minnesota Housing Stability Coalition |