In 1989 HUD undertook an initial assessment of its insured multifamily housing stock. A report released by HUD's Office of Policy Development and Research chronicles the findings of a second assessment as of 1995 and highlights the major changes in the housing inventory 6 years later. Overall, the multifamily housing stock's financial condition improved between 1989 and 1995, but its physical condition declined. Repair and replacement needs increase as housing ages, so some decline was not unexpected. Nevertheless, the report finds that the physical needs of most properties remained relatively modest.
Status of HUD-Insured (or Held) Multifamily Rental Housing in 1995—Final Report profiles the physical and financial condition of more than 12,000 properties. The report focuses on the 10,000 properties within the total portfolio that benefit from rental assistance in addition to mortgage insurance.