What Happens to Low-Income Housing Tax Credit Properties at Year 15 and Beyond?

US Department of Housing and Urban Development, Office of Policy and Development Research, August 2012

180 Pages Posted: 1 Nov 2012

See all articles by Jill Khadduri

Jill Khadduri

Abt Associates, Inc.

Carissa Climaco

Abt Associates, Inc.

Kimberly Burnett

Abt Associates, Inc.

Laurie Gould

affiliation not provided to SSRN

Louise Elving

affiliation not provided to SSRN

Date Written: August 22, 2012

Abstract

The Low-Income Housing Tax Credit (LIHTC) program has been a significant source of new multifamily housing for a quarter century, producing more than 2 million units of affordable rental housing since 1987. In recent years, LIHTCs have provided funding for approximately one-third of all new multifamily housing units built in the United States. In the past few years, however, thousands of properties financed through LIHTC have become eligible to leave the program, ending rent and income-use restrictions. In the worst-case scenario, more than 1 million LIHTC units could leave the stock of affordable housing by 2020, a potentially serious setback to the goal of expanding housing choices for low-income households.

Keywords: HUD, 2012, Affordable Housing, LIHTC, Housing Finance

Suggested Citation

Khadduri, Jill and Climaco, Carissa and Burnett, Kimberly and Gould, Laurie and Elving, Louise, What Happens to Low-Income Housing Tax Credit Properties at Year 15 and Beyond? (August 22, 2012). US Department of Housing and Urban Development, Office of Policy and Development Research, August 2012, Available at SSRN: https://ssrn.com/abstract=2169370 or http://dx.doi.org/10.2139/ssrn.2169370

Jill Khadduri

Abt Associates, Inc.

55 Wheeler Street
Cambridge, MA 02138-1168
United States

Carissa Climaco

Abt Associates, Inc. ( email )

55 Wheeler Street
Cambridge, MA 02138-1168
United States

Kimberly Burnett

Abt Associates, Inc. ( email )

55 Wheeler Street
Cambridge, MA 02138-1168
United States

Laurie Gould (Contact Author)

affiliation not provided to SSRN ( email )

Louise Elving

affiliation not provided to SSRN ( email )

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