Since 1999, AREA has conducted and analyzed a city-wide rent survey for the Philadelphia Housing Authority (PHA) using a customized rent calculation model. The PHA uses the model to determine appropriate lease rates for Housing Choice Voucher holders.
Each year, AREA prepares an update of housing market conditions and pricing parameters for the PHA rent calculation model, and about every two years, AREA conducts a completely new city-wide survey.
AREA's rent calculation model is the only system in the industry to identify specific comparable units and use local market data to calculate a reasonable rent for a specific unit being leased by a Voucher holder.
AREA's work in Philadelphia has been featured in several recent media reports.
AREA Rents in New Orleans, LA
AREA also developed a rent reasonableness survey and model for the Housing Authority of New Orleans (HANO). Similar in concept to the Philadelphia version, this model, created and implemented in 2003 and 2004, is wholly unique to the New Orleans rental market.
The data collected by AREA may be helpful to the City of New Orleans as it begins to rebuild after Hurricane Katrina.
AREA Rents in Los Angeles, CA
In 2005, AREA developed and began managing a semi-annual comprehensive rent survey for the Housing Authority of the City of Los Angeles (HACLA). Several thousand market-rate rental housing units are included in the survey, which covers the broad geography of Los Angeles and its diverse neighborhoods.