Safe, decent, affordable rental housing is an important resource for rural communities across the country. It allows seniors to remain in their homes rather than having to relocate because of rising rents, and parents to raise their children with longstanding community connections instead of moving to a new neighborhood to afford their housing costs. It also supports the growth or preservation of towns and smaller cities across the country.

However, development and preservation of affordable rental housing in rural America faces several challenges: subpar or aging infrastructure, lower incomes due to limited economies and dispersed populations. Without some form of subsidy or incentive, the rents that properties can charge generally cannot support ongoing property needs.

Over the decades, various programs have been used in an effort to overcome these challenges. In this paper, we pay particular attention to the role of the Section 538 program, which promotes strategic investment in the development of rural multifamily housing and preserves affordable housing for renters across the country. Download to read our market analysis and learn about the Section 538 program's details and benefits.

Map of All Section 538 Properties