Low Income Housing Tax Credit program (LIHTC) is a federal housing assistance program that assists developers to finance the development of affordable housing. These tax credits are sold to investors to raise capital to build affordable home communities. Tax credits are allocated in a highly competitive process that relies on an assessment of the financial viability of a project and the need for the project in the community. The program does not provide direct assistance to renters and is strictly used to finance the construction (not the operation) of rental properties. The affordable housing units are then rented to income qualified households. Usually, LIHTC properties have units available for families earning 60% or less of the Area Median Income (AMI).
Visit our Residents page to find a LIHTC property near you.