Homes for America

What Homes for America does

Homes for America is a nonprofit 501(c)(3) affordable housing development corporation headquartered in Annapolis, Maryland, founded in 1994 by Nancy Rase and Trudy McFall. The organization develops and preserves affordable rental housing for low-income families, seniors, persons with disabilities, and special needs populations across a four-state mid-Atlantic region (Maryland, Pennsylvania, Virginia, and Delaware). Over its 30-year operating history, Homes for America has developed more than 80 rental communities totaling over 6,700 homes and currently maintains an active stabilized portfolio of approximately 5,000 units.

Operations are organized into three integrated service lines: Development (new construction, adaptive reuse, and renovation financed through complex mechanisms including 9% and 4% Low-Income Housing Tax Credits and federal programs such as HOME, CDBG, HUD 202 and 811, USDA, and Capital Magnet Fund), Portfolio Management (fiscal stewardship, property maintenance, refinancing and repositioning of stabilized assets, and environmental sustainability initiatives), and Service Enhanced Housing (a resident-centered model providing health, wellness, nutrition, education, financial assistance, and community engagement programming). The organization holds CORES Certification from SAHF, placing it among only 52 organizations nationwide recognized for resident services capability, and has received more than 50 national, state, regional, and local awards.

The business model is nonprofit and mission-driven, with revenue derived from rental operations across the owned portfolio, developer fees on new construction, refinancing and repositioning gains, government program allocations (LIHTC equity, HOME, CDBG, state rental programs), and tax-deductible philanthropic donations. More than 60% of communities have been developed in joint venture with for-profit developers, religious organizations, other nonprofits, and public housing authorities. The organization is governed by a Board of Directors and led by President & CEO Dana Johnson, with a small staff (11-50 employees) that has shepherded cumulative total development costs exceeding $500 million historically.

Name

Homes for America

Legal name

Homes for America, Inc.

Website

https://homesforamerica.org

Company type

Private

Founded year

1994

Operating status

Operating

Headcount range

11–50 employees

Short description

Homes for America is a 501(c)(3) nonprofit founded in 1994 that develops, owns, and manages affordable rental housing for low-income families, seniors, and persons with disabilities across Maryland, Pennsylvania, Virginia, and Delaware, with an active portfolio of approximately 5,000 units.

Ownership category

akta.pro rank

Product category

Affordable Housing Development

NAICS

Residential Building Construction (2361), Residential Building Construction (23611), Other Community Housing Services (624229)

SIC

Operators Of Apartment Buildings (6513), Land Subdividers & Developers (No Cemeteries) (6552), Services-To Dwellings & Other Buildings (7340)

akta.pro primary industry

Residential Affordable Housing Development & Construction (IMAFABAI)

akta.pro secondary industries

Community Development & Neighborhood Revitalization Housing Programs (FSALAKAO), Housing Rehabilitation, Weatherization & Home Repair Grant/Loan Programs (FSALAKAJ), Housing & Neighborhood Services (Local Housing Programs) (BPAIACAJ)

Keywords

• Affordable housing development
• Rental property management
• Low-income housing
• Resident services
• Housing preservation

Headquarters

HQ city

Annapolis

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Others, Marketing or Sales

Revenue model

1. Housing Development & Preservation: As a nonprofit housing development corporation, Homes for America generates revenue through developing and preserving affordable rental housing. Income is derived from rental operations, refinancing, and repositioning of portfolio properties, with financing supported by tax credits, bond financing, and government programs.
2. Donations and Philanthropic Support: As a 501(c)(3) nonprofit, Homes for America accepts tax-deductible donations from individuals, organizations, and businesses to support resident services programs, community enhancement initiatives, and development projects.
3. Resident Services Programming: Revenue supports resident services coordination including health & wellness, nutrition, financial assistance, eviction prevention, community connectivity, and social/recreational programs. Funded through community funds allocation and grant pursuit.

Go-to-market motion2 records

Distribution channels2 records

Marketing channels5 records

Core offering

Homes for America is a nonprofit housing development corporation that develops and preserves affordable rental housing across the mid-Atlantic region. The organization delivers three integrated service lines: Development of new construction, adaptive reuse, and renovation of affordable rental housing using complex financing tools (LIHTC tax credits, HOME, CDBG, HUD 202/811, USDA programs); Portfolio Management stewardship of owned communities; and Service Enhanced Housing programs providing resident-centered services including health & wellness, nutrition, education, financial assistance, and community connectivity.

Product overview

Homes for America operates as a nonprofit affordable housing development corporation offering three integrated service lines: Development (new construction, adaptive reuse, and renovation of affordable rental housing using complex financing mechanisms including tax credits and federal/state programs), Portfolio Management (stewardship of the community portfolio including financial oversight, physical property maintenance, and sustainability initiatives), and Service Enhanced Housing (resident-centered programs providing health, wellness, nutrition, education, financial assistance, and community services). The company has developed over 80 communities with more than 6,500 apartments across a quad-state region (Maryland, Delaware, Pennsylvania, Virginia), holds CORES Certification for resident engagement excellence, and serves diverse populations including families, seniors, persons with disabilities, and special needs individuals. The company also accepts donations through PayPal to support resident services programs.

Differentiator

Problem solved

Functional benefit

Products and services

• Development Expert development and preservation of affordable rental housing through new construction, adaptive reuse, and in-place renovations. Utilizes complex financing tools including 9% and 4% tax credits, Federal programs (HOME, CDBG, HUD 202 and 811, USDA, Capital Magnet Fund), and state/local loan programs. Target customers include low-income families, seniors, persons with disabilities, and special needs populations.
• Portfolio Management Comprehensive stewardship of affordable housing communities encompassing fiscal health monitoring, physical property oversight, refinancing and repositioning strategies, annual audits, risk analysis, occupancy monitoring, and environmental sustainability initiatives. Provided for owned and managed rental communities serving families, seniors, and special needs populations.
• Service Enhanced Housing Holistic resident-centered approach providing programs and services including health & wellness, nutritional services, social/recreational activities, education, financial assistance, safety/security, computer access centers, community connectivity, and green initiatives. Designed to enhance residents' lives and support economic mobility beyond shelter.
• Affordable Rental Communities Portfolio of over 80 developed communities with more than 6,500 apartments across Delaware, Maryland, Pennsylvania, and Virginia, serving families, seniors, persons with disabilities and special needs populations. Communities include properties such as Elizabeth Cornish Landing, Laurel Commons, Berger Square, Chase House, City Arts, and Darby House. Current active portfolio of approximately 5,000 units.

Quantifiable outcome

• Developed over 80 communities with more than 6,500 apartments; current portfolio of approximately 5,000 units
• +2 more outcomes

Named customers4 records

Segments4 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

Six partnerships are on record, tiered core and major.

• Questar PropertiescoreStrategic or Co-development Partner · 18 November 2025Joint venture partnership with Maryland Department of Transportation selected development team to advance transit-oriented development at Odenton MARC Station. The project will transform a parking lot into a mixed-use community with housing, retail, and public spaces.
• United WaycoreStrategic or Co-development PartnerPartnership with United Way to establish the Darby House Fire Recovery Fund following a fire that displaced 127 residents at Darby House Senior Apartments. The fund received a $50,000 donation from an anonymous donor.
• Ecumenical Partners (Religious Organizations)majorStrategic or Co-development PartnerCollaborations with diverse range of religious organizations and faith-based groups to create inclusive communities reflecting values of compassion, unity, and diversity.
• For-Profit DevelopersmajorStrategic or Co-development PartnerJoint venture partnerships with for-profit developers who share commitment to social responsibility. These collaborations harness strengths of nonprofit and for-profit entities to ensure financial viability while maintaining dedication to mission.
• Nonprofit Partner OrganizationsmajorStrategic or Co-development PartnerPartnerships with other nonprofit organizations possessing compelling missions who may require additional expertise and financial support. Homes for America serves as managing partner ensuring communities meet highest standards and align with mission.
• Housing AuthoritiesmajorStrategic or Co-development PartnerCollaborations with public housing authorities to address needs of vulnerable populations. HFA's development expertise combined with local insights of housing authorities results in well-planned communities serving unique resident needs.

Scale indicators5 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• AHC Inc. Mid-Atlantic nonprofit affordable housing developer headquartered in Arlington, VA, serving low-income families, seniors, and individuals with disabilities in Virginia and Maryland. Direct operational overlap with HFA in geographies served and populations targeted.
• National Church Residences: Nonprofit developer and operator of affordable senior housing and services nationwide using LIHTC, HUD 202, and RAD financing. Closely comparable to HFA's senior housing focus (Bay Forest, Glen Forest, Darby House) and Service Enhanced Housing approach.
• Wesley Housing: Nonprofit affordable housing developer operating in the mid-Atlantic/DMV region, providing rental housing and supportive services to low-income families, seniors, and individuals with disabilities. HFA's board chair is the retired President/CEO of Wesley Housing, signaling direct organizational overlap in mission and geography.
• Preservation of Affordable Housing (POAH): National nonprofit that develops and preserves affordable rental housing using LIHTC and HUD financing, with a strong resident services component (similar to HFA's Service Enhanced Housing model). Directly comparable in mission, financing tools, and operating approach.
• Beacon Communities: Nonprofit affordable housing developer that develops, owns, and manages rental communities for families and seniors across multiple states using LIHTC and HUD financing. Comparable in scale (8,000+ units) and product type to HFA.
• Pennrose, LLC: Mid-Atlantic headquartered multifamily developer with strong affordable and mixed-income housing practice across the East Coast, including LIHTC-financed communities for families and seniors. Closely comparable to HFA in financing toolkit (LIHTC, HUD programs) and regional presence.
• Enterprise Homes, Inc. Mid-Atlantic nonprofit affordable housing developer and owner-operator with overlapping LIHTC financing structure, mixed-income rental communities, and resident services programs. HFA's board secretary previously served as Enterprise Homes' President & CEO, indicating a closely comparable operating model in Maryland.

Broad incumbents

• The NRP Group: Larger national multifamily developer with a substantial affordable and mixed-income housing pipeline, including LIHTC-financed communities in the mid-Atlantic. Comparable in product type but broader in geographic scope and capital base than HFA's nonprofit model.
• The Michaels Organization: Large national developer/owner/manager of affordable and market-rate rental housing with deep LIHTC expertise and significant mid-Atlantic presence. Broader portfolio and for-profit orientation than HFA but directly comparable product and financing structure.

Others

• Cinnaire: Nonprofit LIHTC syndicator and development lender for affordable housing, with HFA board representation. Ecosystem partner rather than direct competitor, but comparable mission focus on affordable rental development financing in the mid-Atlantic.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/HomesforAmerica
• Facebookfacebook.com/HomesForAmericaInc
• LinkedInlinkedin.com/company/homesforamericainc
• Instagraminstagram.com/homesforamerica

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles15 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Homes for America