The Kansas Department of Revenue (KDOR) engaged Valbridge Property Advisors | Kansas City to complete its biannual low-income housing capitalization rate study. The study includes developing a going-in multi-family capitalization rate and an effective gross income multiplier (EGIM) analysis for affordable housing properties in Kansas. The Kansas Department of Revenue and Kansas County Appraisers use the study to evaluate federally sponsored affordable housing projects in Kansas. The study included a capitalization rate analysis using traditional sales, a rate analysis utilizing the band of investments, an effective gross income multiplier analysis, and a discussion of market conditions impacting overall rates for investment Class A, B, and C properties in primary, secondary, and tertiary markets in the State of Kansas.