A new analysis by the Fortune 500 real estate firm, CBRE, shows that the Low-Income Housing Tax Credit (LIHTC) program is helping the families most in need of affordable housing: low-income seniors and families with children. Combining data from state housing finance agencies across the country, CBRE reports that the households living in LIHTC rental units earn less than one-third the national median household income, illustrating that LIHTC is reaching its target.
The Housing Credit program also helps support jobs and boost local tax revenue. For example, in North Carolina, the LITHC, along with the state’s Workforce Housing Loan Program and loans from the NC Housing Finance Agency supported 12,600 jobs statewide and added $67 million in state and local tax revenue in 2016. To learn more about the impact of affordable housing investments in the state, see the Agency’s Investment Impact Reports.