About the Low Income Housing Tax Credit (LIHTC) Program
The low-income housing tax credit (LIHTC) is widely hailed as the most successful housing program in the United States. Attributed with creating or preserving more than 2.7 million affordable rental housing units, the LIHTC is a model of how public-private partnerships can provide benefits for a neighborhood’s economy and its residents. For the economy, the LIHTC creates nearly 96,000 jobs a year and estimates suggest almost $100 billion in private investment has been leveraged by the program, while generating $3.5 billion in federal, state and local taxes and $9.1 billion in economic income. For low- and moderate-income households, the LIHTC can provide a place to call home, which is sorely needed in light of the more than 11 million households that pay more than half their income in rent.