The Affordable Housing Tax Credit Coalition The Affordable Housing Tax Credit Coalition
  • ABOUT
    • About the AHTCC
    • AHTCC Members
    • AHTCC Leadership
    • Contact Us
    • Finding Housing
  • ADVOCACY
    • Affordable Housing for Veterans
    • COVID-19 Response
    • The Housing Credit
    • Legislation
    • Regulatory Issues
    • Resident Stories
    • AHTCC Legislative Priorities
  • AWARDS
    • Charles L. Edson Tax Credit Excellence Awards
    • Champion of Affordable Housing Award
    • David Reznick Lifetime Achievement Award
  • GALLERY
  • EVENTS
  • NEWS
  • VETERANS
  • JOIN AHTCC
The Affordable Housing Tax Credit Coalition The Affordable Housing Tax Credit Coalition
  • ABOUT
    • About the AHTCC
    • AHTCC Members
    • AHTCC Leadership
    • Contact Us
    • Finding Housing
  • ADVOCACY
    • Affordable Housing for Veterans
    • COVID-19 Response
    • The Housing Credit
    • Legislation
    • Regulatory Issues
    • Resident Stories
    • AHTCC Legislative Priorities
  • AWARDS
    • Charles L. Edson Tax Credit Excellence Awards
    • Champion of Affordable Housing Award
    • David Reznick Lifetime Achievement Award
  • GALLERY
  • EVENTS
  • NEWS
  • VETERANS
  • JOIN AHTCC

The Housing Credit

The Low-Income Housing Tax Credit (Housing Credit) is our nation’s primary tool to create and preserve affordable rental housing.

  • Since 1986, the Housing Credit has financed the development of more than 3.5 million affordable homes in urban, suburban, and rural areas according to the National Council of State Housing Agencies.
  • These apartments have provided affordable homes to over eight million low-income households, including veterans of the armed forces, senior citizens, individuals with disabilities, families with children, and low-wage workers.

The Housing Credit generates economic activity, tax revenue, and jobs

  • Since 1986 the Housing Credit has generated $593 billion in wages and business income and $206 billion in tax revenue, and has supported 5.2 million jobs, according to the National Association of Home Builders.

The Housing Credit serves millions of households in need

  • Approximately 45 percent of households served are extremely low-income, making 30 percent or less of area median income, according to HUD data.
  • Households living in Housing Credit properties have a median annual income of less than $18,000. If forced to pay market-rate rent, many of these households would be just one unforeseen event away from losing their housing.

Housing Credit properties are safe, decent, and financially stable

  • Due to strong private-sector oversight stemming from the Housing Credit’s public-private partnership model, properties are built to durable, high-quality standards.
  • Since inception, the total foreclosure rate for all Housing Credit properties has been only 0.65 percent, which is lower than any real estate asset class, according to accounting firm CohnReznick.

The Housing Credit is designed to work in all types of communities

  • The Housing Credit allows states to set their own affordable housing priorities and to award Housing Credits based on those priorities, e.g. senior housing, housing for veterans, housing in rural areas, or housing for special populations, such as extremely low-income households.
  • Housing Credit properties are built in large and small urban areas, suburban communities, rural towns, and on tribal land.
  • The Housing Credit has also been important for communities recovering from natural disasters – from the California wildfires to Hurricane Katrina to the floods in Iowa.

The Housing Credit can and should serve even more households

  • There is a vast and growing demand for affordable housing. More than 10 million low-income households spend more than half of their monthly income on rent, cutting into other essential expenses like childcare, medicine, groceries and transportation, according to Harvard’s Joint Center for Housing Studies.
  • Meanwhile, there is a growing shortage of affordable housing: For every 100 extremely low-income households, there are only 36 affordable homes available, according to the National Low Income Housing Coalition.
  • Virtually no new affordable housing can be constructed without the Housing Credit. As the affordable housing crisis continues to grow, it will be essential to expand and strengthen the Housing Credit.

HOUSING CREDIT NEWS

  • IRS Issues Housing Credit Relief in Response to COVID-19 Crisis
  • New Congress and Administration Present Opportunities for Affordable Housing
  • AHTCC Submits Comments on Proposed Average Income Test Regulations
  • Minimum 4 Percent Housing Credit Rate Enacted, Rental Assistance Provided Through Year-End Legislation

HOUSING CREDIT IN ACTION

FOLLOW AHTCC

Retweet on TwitterAHTCC Retweeted
20 Jan

With a new Administration sworn in and Democrats taking control of the Senate today, the implications for affordable housing are huge. ICYMI, our outlook here: ... https://www.taxcreditcoalition.org/new-congress-and-administration-present-opportunities-for-affordable-housing/

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The Affordable Housing Tax Credit Coalition is a trade organization of housing professionals who advocate in support of the Low-Income Housing Tax Credit

LATEST NEWS FROM AHTCC

  • The AHTCC Remembers Fred Copeman
  • IRS Issues Housing Credit Relief in Response to COVID-19 Crisis

AHTCC ON TWITTER

Retweet on TwitterAHTCC Retweeted
20 Jan

With a new Administration sworn in and Democrats taking control of the Senate today, the implications for affordable housing are huge. ICYMI, our outlook here: ... https://www.taxcreditcoalition.org/new-congress-and-administration-present-opportunities-for-affordable-housing/

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CONTACT

1900 M Street NW, 3rd Floor
Washington, DC 20036
202-935-0977
info@taxcreditcoalition.org

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© 2020 The Affordable Housing Tax Credit Coalition