The ACTION Campaign’s district fact sheets, which show the Housing Credit’s impact in each congressional district and the affordable housing needs that still remain in every state, have been updated to reflect the most recent data available.
The data come from HUD’s LIHTC database through 2016, with economic impact multipliers from the National Association of Home Builders. The district fact sheets also include data on cost-burdened renters from the 2016 American Community Survey, and data from the National Low Income Housing Coalition’s 2016 Out of Reach report, showing how many hours a minimum wage worker in each state has to work in order to afford a modest one-bedroom apartment.
We also updated our state fact sheets last month, showing that the Housing Credit has financed more than 3 million apartments nationwide, providing affordable homes to 7.2 million low-income families and supporting 3.4 million jobs. However, 11 million households still pay more than half of their income towards rent, and the average minimum wage worker has to work 90 hours per week in order to afford a modest one-bedroom apartment, underscoring the need to expand the Housing Credit and invest in communities across the country.
New to both the state and district fact sheets this year is data demonstrating the impact that a 50 percent increase in Housing Credit allocation authority would have in each state. The Cantwell-Hatch Affordable Housing Credit Improvement Act (S. 548), bipartisan legislation to strengthen and expand the Housing Credit, includes a 50 percent increase in allocation authority. According to recent estimates from accounting firm Novogradac & Company, a 50 percent expansion of the Housing Credit would allow more than 264,200 additional affordable homes to be built nationally over the next ten years.