2019 Analysis of Green Improvements in Workforce Housing
What do green property improvements have to do with preserving the affordability of workforce rental housing? Plenty! Over the past decade, energy and utility costs have steadily increased and renters report having to cut their expenses and reduce what they would otherwise spend on their well-being — medical services and even food — so they can cover their utilities. Sometimes the only other option is to keep the home at an unhealthy or unsafe temperature.
Energy efficient improvements to the property can reduce consumption of energy and utilities, which in turn reduces the likelihood that families will experience utility insecurity. Our suite of Green Advantage® offerings helps tenants in workforce housing by offsetting these types of expenses and contributes to overall affordability.
In this paper, we share updated findings on the impact of our Green Advantage program, as well as release updated property level data on the improvements that have been made through the program. Among many other details we've calculated that annual cost savings projections total over $132 million, which averages to roughly $62,800 per loan per year and $233 per unit per year. Read the 2019 report to learn more.
Top 10 MSAs Containing Green Loans