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Report: LIHTC Program Achieves Goals

Furman Center for Real Estate and Urban Policy and the Moelis Institute for Affordable Housing Policy
 

New report finds that the Low Income Housing Tax Credit (LIHTC) Program benefits many more households with incomes lower than the program requires. The report – What Can We Learn about the Low Income Housing Tax Credit Program by Looking at the Tenants? – is a joint effort between the Furman Center for Real Estate and Urban Policy and the Moelis Institute for Affordable Housing Policy.

Extremely low income (ELI) households (households with incomes below 30% of the area median income) occupy 40% of LIHTC housing units despite the programs requirement allowing units be occupied with households making up to 60% of the area median income. LIHTC tenants also pay less of their income to rent than renters with similar incomes who are living in private housing. However, the 30% of ELI tenants in LIHTC properties who do not receive rental assistance are severely rent burdened (pay over 50% of their income for rent).

This report concludes that the LIHTC program has successfully achieved the federal goal of serving households most in need.

The full press release is available here
Click here to read the full report. 

 
 

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