The Business Research Company’s report on the Affordable Housing Market provides insights into the global market size, growth rate, regional distribution, competitive landscape, key segments, emerging trends, and strategic opportunities.
How are market drivers shaping the future growth trajectory of the affordable housing industry?
The easy availability of home loans significantly contributes to the growth of the affordable housing market going forward. Home loans refer to a sum that a person borrows from a financial entity, like a housing finance business, to build a home, renovate an existing one, or purchase a new or used home. Home loans give financial support to people or families, allowing them to acquire or construct homes at a low cost, boosting homeownership, and solving housing affordability issues. For instance, in May 2023, according to the Federal Reserve Bank of New York, a US-based bank of the Federal Reserve responsible for implementing monetary policy, total household debt increased by $148 billion (0.9%) to $17.05 trillion in the first quarter of 2023, where its balances are presently $2.9 trillion. Therefore, the easy availability of home loans is driving the growth of the affordable housing market.
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What is the estimated market size of the affordable housing sector by 2029, based on current forecasts?
The affordable housing market size has grown strongly in recent years. It will grow from $57.14 billion in 2024 to $60.42 billion in 2025 at a compound annual growth rate (CAGR) of 5.7%. The growth in the historic period can be attributed to government subsidies and programs, low-interest rates, population growth, urbanization, and community development initiatives
The affordable housing market size is expected to see strong growth in the next few years. It will grow to $75.95 billion in 2029 at a compound annual growth rate (CAGR) of 5.9%. The growth in the forecast period can be attributed to policy reforms, climate resilience, flexible financing models, focus on inclusionary zoning, and employer-sponsored housing. Major trends in the forecast period include public-private partnerships, technology and innovation, tiny homes and micro-apartments, smart and sustainable affordable housing, and mixed-use developments.
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#Who are the top players in the affordable housing market?
Major companies operating in the affordable housing market include Skanska AB, The Related Group, L&T Construction, Volunteers of America, Shapoorji Pallonji & Company Private Limited, The Beacon Communities LLC, McCormack Baron Salazar, Prestige Group, The Michaels Organization, Amrapali Group, Pinnacle Housing Group, National Church Residences, BRIDGE Housing Corporation, Shriram Properties Ltd., Dominium, Herman & Kittle Properties Inc., Jonathan Rose Companies LLC, Provident Housing Limited, The Community Builders Inc., AHC Inc., TWG Development, Tata Realty And Infrastructure Limited, The Richman Group, LDG Development LLC, Signature Global Limited, NRP Group, Dantes Partners, XRBIA Developers Limited, Mercy Housing Inc.
#What are the major trends in the affordable housing market?
Technological advancements are the key trend gaining popularity in the affordable housing market. Major companies operating in the affordable housing market focus on developing innovative and technologically advanced affordable housing solutions to strengthen their market presence. For instance, in June 2023, AppFolio Inc., a US-based software company specializing in real estate management solutions, introduced a host of AI-powered capabilities and affordable housing solutions. The company will integrate these innovative artificial intelligence capabilities into affordable housing solutions to empower property managers to enhance resident experiences. This new affordable housing solution is designed to meet the specific requirements of clients who manage affordable housing properties or units in their portfolios. It includes managing compliance, expediting procedures, and integrating accounting operations for conventional and affordable housing units on a single platform.
Which geography holds the highest affordable housing market share?
North America was the largest region in the affordable housing market in 2024. The regions covered in the affordable housing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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How do different segments contribute to the overall expansion of the affordable housing market?
The affordable housing market covered in this report is segmented –
1) By Providers: Private Builders, Government, Public-Private Partnership
2) By Size Of Unit: Up To 400 square Feet, 400-800 Square Feet, Above 800 Square Feet
3) By Location: Urban, Rural
4) By Income Categories: Economically Weaker Sections (EWS), Middle Income Group (MIG), Lower Income Group (LIG)
5) By Population: Slum Population, Non-slum population
Subsegments:
1) By Private Builders: Large Real Estate Developers, Small And Medium Enterprises (SMEs), Non-Profit Housing Developers
2) By Government: National Housing Authorities, Local Government Housing Agencies, Social Housing Programs
3) By Public-Private Partnership (PPP): Joint Ventures Between Government And Private Developers, Cooperative Housing Initiatives, Community Development Projects
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How is the affordable housing market defined?
Affordable housing refers to housing units for people with less than the median household income. Its primary purpose is to offer safe, reasonable, and cheap housing to individuals who need help obtaining adequate accommodation due to financial restrictions.
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