If you only measure real estate by headline IRR, workforce housing can look “boring.” The rent growth is usually steadier than flashy. The upside is rarely driven by dramatic repositioning. The story isn’t a moonshot. And that’s exactly why sophisticated…

Real estate returns are often explained with a simple story: raise rents, increase value, exit at a higher price. While intuitive, this narrative overlooks one of the most powerful drivers of real-world investment performance. For many long-term investors, depreciation—not rent…

When investors evaluate workforce housing, the conversation often starts with cap rates, rent growth, and operating margins. But the real performance story rarely shows up in headline numbers. The true advantage of workforce housing often reveals itself after taxes, and…

Workforce housing sits at the center of one of the most persistent challenges in U.S. real estate: strong demand paired with weak development feasibility. It serves households earning roughly 60% to 120% of Area Median Income—teachers, nurses, first responders, logistics…

Few topics generate as much confusion in housing policy and investment as this one: If workforce housing is in such short supply, why isn’t more of it being built? The answer is not a lack of demand. It is not…

Workforce housing and affordable housing are often grouped together in public discourse, policy debates, and even investment conversations. In reality, they are fundamentally different asset classes with distinct risk profiles, return dynamics, and regulatory frameworks. Understanding these differences is critical…