Texas Department of Housing & Community Affairs - Building Homes and Strengthening Communities

Real Estate Analysis

Brent Stewart
Director of Real Estate Analysis
Phone: (512) 475-2973
Fax: (512) 475-4420

PO Box 13941
221 East 11th Street
Austin, TX 78711-3941


The Real Estate Analysis division provides the TDHCA Governing Board and staff with comprehensive analytical reports necessary to make well informed decisions for funding of affordable housing developments.

Underwriting Reports

The following resources provide underwriting reports for the applicable funding source, or group of developments. The file numbers listed are linked to the PDF version of the underwriting report. These resources will be updated as underwriting reports are completed. Requests for underwriting reports not included in these spreadsheets may be emailed to Pamela Cloyde at


TAC Rules


Market Analysis





Real Estate Analysis is providing this data as advisory and indicative and solely as a point of reference. Factors affecting operating expenses (such as development type, size, location and age, as well as target population and management philosophies) may vary, and the user should consider these possible deviations. For that reason, under no circumstances should it (or any derivative thereof) be used in whole or in part for developing an operating expense pro forma for any specific project, except in a purely theoretical environment for comparative purposes.

For more information, please contact a Real Estate Analysis staff member.