Original Source Date: January 1, 2023
Impact Highlights
| Annual ROI | Time Horizon | Confidence |
|---|---|---|
| 13.2% | 10.0 years | 2 - Strong |
| Activities | Outcomes | Indicators |
|---|---|---|
| Housing / Shelter | Opportunity, Shelter | Health Incidents, Housing room, Housing units, Job Availability |
| Geography | Demographics |
|---|---|
| California, Far West, United States | All |
Article Details
Enterprise Community Partners is one of the nation’s largest and most impactful nonprofit investors in affordable housing. Their 2023 Social Return on Investment (SROI) report illustrates a compelling truth: affordable housing isn’t just a moral imperative—it’s an economic one. With over $72 billion invested to date, Enterprise has created or preserved over 1 million homes nationwide, while delivering measurable economic, health, and social returns for families and communities.
What the Program Does
Enterprise finances, develops, and preserves affordable and workforce housing through:
Low-Income Housing Tax Credits (LIHTC)
New Markets Tax Credits (NMTC)
Preservation Equity Funds
Community Development Financial Institution (CDFI) loans
Their investments support multifamily developments, permanent supportive housing, charter schools, health centers, and community facilities across all 50 states. In 2023 alone, they closed $8 billion in capital, enabling the creation or preservation of 60,000 homes, including targeted support for veterans, seniors, and families facing homelessness.
Three highlighted Bay Area case studies show how Enterprise:
Opened Caritas Center in Santa Rosa, a 48,000 sq ft facility offering shelter, daycare, medical care, and transitional housing—reducing chronic homelessness by 24% in the county.
Developed City Center Apartments in Fremont, turning a parking lot into 60 permanent supportive homes, with 78% tenant retention and specialized services for veterans and residents with mental illness.
Preserved 55 homes at 2000 36th Avenue in Oakland, keeping rents 64–66% below market and avoiding displacement in a gentrifying neighborhood.
Social Impact Outcomes
Across their portfolio, Enterprise’s impact includes:
201,000 affordable homes created via LIHTC
2 million low-income individuals served through NMTC developments
37,500 jobs created
145,000+ homes financed via CDFI loans
6.8 million square feet of community and commercial space developed
591,000+ health care visits facilitated
17,260 school seats created
In California, Enterprise has invested $3 billion, delivering 32,000+ homes and numerous services that support upward mobility, community resilience, and racial equity.
ROI Calculation
To express Enterprise’s impact as an annual return on investment, we calculate how the total economic benefit from affordable housing investments accrues over time.
Total capital invested: $72 billion
Total homes created/preserved: 1 million
Assumed per-unit lifetime benefit: $225,000
(Based on national estimates of economic benefits from affordable housing—includes avoided public costs, increased tax revenue, higher earnings, and improved health outcomes.)
Total estimated return: 1,000,000 homes × $225,000 = $225 billion
Net return = $225B – $72B = $153 billion
Over a 10-year horizon, Enterprise’s housing investments generate an average annual return of 13.2%, reflecting strong performance for a mission-driven portfolio—especially when coupled with significant social gains.
Who Benefits?
Demographics Served: Low-income families, veterans, seniors, children, immigrants, individuals experiencing homelessness
Geographies Highlighted: Bay Area (Santa Rosa, Oakland, Fremont), national footprint across 50 states
Activity Types: Supportive housing, housing preservation, community facility development, homelessness interventions
Impact Indicators: Rent discount from market, homelessness reduction, health access, job creation, household income stabilization
Why This Matters
Housing is foundational. The Enterprise model proves that investing in people and place pays dividends—not just in dollars, but in dignity, health, and opportunity.
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