Affordable Housing Market Expansion Continues, with Forecast Valuation of $75.13 Billion by 2029

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What Is the Expected CAGR for the Affordable Housing Market Through 2025?
The dimension of the affordable housing market has witnessed significant expansion in past few years. We foresee it escalating from $57.14 billion in 2024 to $60.02 billion in 2025, reflecting a compound annual growth rate (CAGR) of 5.0%. The historical growth can be credited to government incentives and schemes, decreased interest rates, surges in population, urban progression, and initiatives to strengthen communities.

What's the Projected Size of the Global Affordable Housing Market by 2029?
The size of the affordable housing market is predicted to significantly expand in the forthcoming years, reaching $75.13 billion in 2029 with a compound annual growth rate (CAGR) of 5.8%. The growth expected in the forecast period is due to factors such as policy changes, climate robustness, adaptable financing models, emphasis on inclusionary zoning, and housing sponsored by employers. The key trends anticipated during the forecast period encompass collaborations between the public and private sectors, advancements in technology and innovation, the emergence of tiny houses and micro-apartments, intelligent and eco-friendly affordable housing, and the popularity of mixed-use properties.

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Top Growth Drivers in the Affordable Housing Industry: What's Accelerating the Market?
The affordable housing market's expansion can be greatly attributed to the widespread access to home loans. These loans are essentially amounts borrowed by individuals from financial institutions, such as housing finance companies, to build, renovate, or buy a new or pre-owned home. Solutions to housing affordability problems and an increase in homeownership are made possible by the financial assistance that home loans provide to individuals or families, facilitating the acquisition or construction of homes at reduced costs. For example, in May 2023, the Federal Reserve Bank of New York, a constituent bank of the Federal Reserve that executes monetary policy, reported that total household debt had risen by $148 billion (0.9%) to $17.05 trillion in the first quarter of 2023, with its current balances amounting to $2.9 trillion. Consequently, the ready access to home loans plays a significant role in propelling the upward trajectory of the affordable housing market.

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What Trends Will Shape the Affordable Housing Market Through 2029 and Beyond?
The advent of technological innovations is a primary trend gaining traction in the affordable housing market. Major players in this market are focusing on the creation of affordable housing solutions that are both innovative and technologically advanced, aiming to cement their market position. For example, in June 2023, AppFolio Inc., a software company from the US specializing in real estate management solutions, launched a suite of AI-powered capabilities along with affordable housing solutions. The ambitious plan is to incorporate these ground-breaking artificial intelligence capabilities into affordable housing solutions, thus enabling property managers to improve residents' experiences. This novel affordable housing solution is tailored precisely to the needs of clients who manage affordable housing properties or units as part of their portfolios. It covers compliance management, streamlining procedures, and the integration of accounting operations for both traditional and affordable housing units, all within a single platform.

What Are the Main Segments in 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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Which Top Companies are Driving Growth 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.

Which Regions Will Dominate the Affordable Housing Market Through 2029?
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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