The metro area, where developers are churning out thousands of new rentals, was the only one that showed a decline in rent for the publicly traded landlord in 2017.
The main concern is that demand for tax credits could diminish once institutional investors calculate the full impact from the Tax Cuts and Jobs Act.
The new proposal includes an explicit guarantee of mortgage-backed securities provided by the U.S. government through mortgage agency Ginnie Mae.
Renter households now make up the majority in 42 of the 100 largest cities in the U.S., according to RENTCafé.
The U.S. Department of Housing and Urban Development has made it easier for property developers to access funds used by lenders underwriting FHA deals.
The reasons include healthy job and population growth, a thriving tech sector, and low vacancy rates despite a decent amount of new construction.