USDA’s yearly occupancy survey shows the total number of properties in USDA’s rural rental portfolio fell by 1.86% from September 2015 to September 2016, a decrease of 217 properties consisting of 253 Section 515 properties and 18 Section 514 properties. This represents a loss of 4,220 apartment units or 0.97 percent. The average annual income of Section 515 residents has increased to $12,588. For Section 515 tenants with RA, average income is $10,504.
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