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.

Access the Report

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.

Access the analysis

Government Assisted Affordable Housing Reports & Resources

February 2026Minnesota Preservation Framework
Minnesota Housing		Guidance
February 2026Curbing the Insurance Spiral: Policy and Practitioner Strategies to Help Stabilize Multifamily Affordable Housing
Enterprise Community Partners 		Guidance
January 2026The Impact of Resident Services on Property Performance
Stewards of Affordable Housing for the Future		Report
January 2026AHIC Permanent Supportive Housing Underwriting Guidance
Affordable Housing Investor’s Council		Guidance
January 2026Distress in New York’s Affordable Housing Stock
Enterprise Community Partners 		Report
July 2025Avoiding the Domino Effect | Evaluating the Physical Conditions of Aging Permanent Supportive Housing Sites
Enterprise Community Partners 		Report
May 2025Redesign Required: Lessons for Permanent Supportive Housing from Skid Row Housing Trust Buildings
Claire Knowlton Consulting, The Supportive Housing Alliance, and Skid Row Housing Trust		Report
February 2025Using Data to Characterize Distress on Regulated Properties and Housing Providers
Minnesota Housing Stability Coalition		Report
December 2024Understanding Resident Perspectives on Distressed Properties
Minnesota Housing Stability Coalition		Report

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