IRVINE, CA—Steadfast Income REIT, Inc. will engage Goldman, Sachs & Co. as a financial advisor to analyze and evaluate strategic alternatives to maximize stockholder value. As part of that effort, Steadfast also announced the suspension of the company's distribution reinvestment plan for distributions that accrue after October 31, and the suspension of the company's share repurchase plan effective November 20.

“The board is committed to maximizing the total potential return to stockholders,” said Rodney Emery, CEO of Steadfast Income REIT.  “We believe that with current market conditions, coupled with the size and composition of our apartment portfolio, the company may be advantageously positioned to execute on a liquidity opportunity for our stockholders in the near future.”

After launching its initial public offering in July 2010, Steadfast Income concluded its sales of shares of common stock in its primary offering on December 20. Today the Steadfast portfolio has grown to include 65 apartment communities in 11 Midwestern and Southern states purchased for approximately $1.6 billion.

Steadfast Income has not made a decision to pursue any specific liquidity alternative. There is no set timetable for completion of the board of directors' review of strategic alternatives and there can be no assurances that the review process will result in any transaction being announced or completed. Steadfast Income does not plan to provide updates or make any further comment on the review process unless and until such time as the board of directors has approved a specific action or otherwise has determined that further disclosure is appropriate.