Top 10 Affordable Housing Deals & Markets — Week of 2026-07-20
Week of 2026-07-20 · Published July 20, 2026
Market Context
The national affordable housing sector is entering a period of record activity following the landmark passage of the 21st Century ROAD to Housing Act and California's massive $11.25 billion housing bond. Market liquidity is further bolstered by the 25% bond test reduction and a 12% increase in LIHTC allocations, driving significant state-level awards and large-scale portfolio acquisitions across the country.
Rankings
California Veterans and Affordable Housing Bond Act
$11.25B Bond Act · $500M State LIHTC · California State Budget
Signed as part of the 2026-27 budget, this massive $11.25 billion bond act and 'One-Stop Shop' reform package represents the largest state commitment to housing this year.
21st Century ROAD to Housing Act (Federal)
100,000 unit RAD increase · Bipartisan Housing Reform · HUD Modernization
This landmark federal legislation became law on July 11, 2026, lifting the RAD cap by 100,000 units and modernizing HUD inspection protocols to accelerate deal flow.
Illinois IHDA 22-Development Financing Round
$303M Private Capital · 969 Units · 22 Developments
The IHDA Board approved over $76 million in credits and resources this month to leverage $303 million in private capital for nearly 1,000 units across Illinois.
National Equity Fund Acquisition of NAHT Portfolio
15,000 Units · 165 Properties · $26B Total AUM
In a massive consolidation of affordable housing assets, NEF acquired the National Affordable Housing Trust portfolio, encompassing 165 properties and 15,000 homes.
Arkansas ADFA 2026 LIHTC Allocation Round
$133M Total Investment · 698 Units · 9% LIHTC
The Arkansas Development Finance Authority reserved $13.3 million in 9% LIHTCs for 12 projects that will generate over $130 million in total investment.
Fannie Mae and Freddie Mac LIHTC Equity Cap Expansion
$4B Combined LIHTC Cap · $176B Total Agency Caps · GSE Liquidity
The annual LIHTC investment caps for the GSEs were doubled to $2 billion each, providing critical liquidity for rural and hard-to-serve markets throughout 2026.
HUD Project-Based Rental Assistance (PBRA) FY 2026 Funding
$18.5B PBRA Funding · $77.3B Total HUD Budget · Federal Appropriation
The FY 2026 HUD appropriations bill provides $18.5 billion for PBRA, ensuring the stability of thousands of public-private housing partnerships nationwide.
Briley Manor Senior Housing (Little Rock, AR)
71 Senior Units · 9% LIHTC Award · Phillips Development
A major 71-unit senior development by Phillips Development Corp. that secured competitive 9% LIHTC funding in the latest Arkansas financing round.
Avalon at Mabelvale (Mabelvale, AR)
60 Units · 9% LIHTC Award · Domera Development
This 60-unit development by Domera Development was selected for federal tax credits, representing the new wave of workforce housing in the Arkansas market.
OBBB Act 12% LIHTC Allocation Increase Implementation
12% Allocation Increase · 25% Bond Test Rule · Syndication Volume
Syndicators are currently deploying the 12% increase in LIHTC authority granted by the One Big Beautiful Bill (OBBB) Act, improving feasibility for new projects.
Side-by-Side Comparison
| Rank | Deal / Project | Value | Program Type | Source | Source |
|---|---|---|---|---|---|
| 1 | California Veterans and Affordable Housing Bond Act | $11.25B Bond Act · $500M State LIHTC · California State Budget | Signed as part of the 2026-27 budget, this massive $11.25 billion bond act and 'One-Stop Shop' reform package represents the largest state commitment to housing this year. | - | Office of Governor Gavin Newsom |
| 2 | 21st Century ROAD to Housing Act (Federal) | 100,000 unit RAD increase · Bipartisan Housing Reform · HUD Modernization | This landmark federal legislation became law on July 11, 2026, lifting the RAD cap by 100,000 units and modernizing HUD inspection protocols to accelerate deal flow. | - | Bipartisan Policy Center |
| 3 | Illinois IHDA 22-Development Financing Round | $303M Private Capital · 969 Units · 22 Developments | The IHDA Board approved over $76 million in credits and resources this month to leverage $303 million in private capital for nearly 1,000 units across Illinois. | - | Housing Finance |
| 4 | National Equity Fund Acquisition of NAHT Portfolio | 15,000 Units · 165 Properties · $26B Total AUM | In a massive consolidation of affordable housing assets, NEF acquired the National Affordable Housing Trust portfolio, encompassing 165 properties and 15,000 homes. | - | Housing Finance |
| 5 | Arkansas ADFA 2026 LIHTC Allocation Round | $133M Total Investment · 698 Units · 9% LIHTC | The Arkansas Development Finance Authority reserved $13.3 million in 9% LIHTCs for 12 projects that will generate over $130 million in total investment. | - | Housing Finance |
| 6 | Fannie Mae and Freddie Mac LIHTC Equity Cap Expansion | $4B Combined LIHTC Cap · $176B Total Agency Caps · GSE Liquidity | The annual LIHTC investment caps for the GSEs were doubled to $2 billion each, providing critical liquidity for rural and hard-to-serve markets throughout 2026. | - | Housing Finance |
| 7 | HUD Project-Based Rental Assistance (PBRA) FY 2026 Funding | $18.5B PBRA Funding · $77.3B Total HUD Budget · Federal Appropriation | The FY 2026 HUD appropriations bill provides $18.5 billion for PBRA, ensuring the stability of thousands of public-private housing partnerships nationwide. | - | Affordable Housing Tax Credit Coalition |
| 8 | Briley Manor Senior Housing (Little Rock, AR) | 71 Senior Units · 9% LIHTC Award · Phillips Development | A major 71-unit senior development by Phillips Development Corp. that secured competitive 9% LIHTC funding in the latest Arkansas financing round. | - | Housing Finance |
| 9 | Avalon at Mabelvale (Mabelvale, AR) | 60 Units · 9% LIHTC Award · Domera Development | This 60-unit development by Domera Development was selected for federal tax credits, representing the new wave of workforce housing in the Arkansas market. | - | Housing Finance |
| 10 | OBBB Act 12% LIHTC Allocation Increase Implementation | 12% Allocation Increase · 25% Bond Test Rule · Syndication Volume | Syndicators are currently deploying the 12% increase in LIHTC authority granted by the One Big Beautiful Bill (OBBB) Act, improving feasibility for new projects. | - | Housing Finance |
Rankings are built using live web research and publicly available data. Sources are cited inline. This content is for informational purposes only and does not constitute investment advice. View all rankings →