The Low-Income Housing Tax Credit (Housing Credit) is the Nation's Most Successful Affordable Housing Production Tool.
Since it was established in 1986, the Housing Credit program has financed the development of over 2.7 million rental homes throughout the nation.
The Housing Credit program creates nearly 96,000 jobs annually and has leveraged near $100 billion in private investment.
Without the Housing Credit, there would be virtually no affordable housing production.
The Need for Affordable Rental Housing is Growing.
Affordability is the primary housing problem facing renter households.
unprecedented 11 million renter households—more than one in four of all renters
in the U.S.—spend more than half of their monthly income on rent.
Analysts expect an average of 400,000 new
households to enter the rental market each year for the next decade, many
of whom will be low income.
Despite the growing need for affordable rental housing, over
12.8% of the nation’s supply of low-income housing, or 650,000 units, has been
permanently lost from the stock of available affordable rental housing since