What Is the Low Income Housing Tax Credit?

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We’re talking about housing for four weeks, thanks to the support of the RWJF! In the last episode, we introduced you to the pathways by which we might think about improving housing for low-income individuals. Today we’re going to get specific.

One policy which focuses on affordability is the Low-Income Housing Tax Credit. TR Goldman wrote a great policy brief about it in Health Affairs. It’s also the topic of this week’s HCT.

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Resources used in the making of this episode:
-Using The Low-Income Housing Tax Credit To Fill The Rental Housing Gap: https://tinyurl.com/yythgmd7
-An Introduction to the Low-Income Housing Tax Credit: https://tinyurl.com/y56aa2x8
-Building the Case: Low-Income Housing Tax Credits and Health: https://tinyurl.com/y6ojl2p8
-Points for Place: Can State Governments Shape Siting Patterns of Low-Income Housing Tax Credit Developments?: https://tinyurl.com/y3ysyuuc
-The Low-Income Housing Tax Credit – Past Achievements, Future Challenges: https://tinyurl.com/y6nc4brm
-S.548 – Affordable Housing Credit Improvement Act of 2017: https://tinyurl.com/y6yk5mh2

Related HCT episodes:
Where You Live Has a Huge Impact on Your Health: https://youtu.be/zNzFnHL-8Zk

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22 comments

  1. The HUD apartment I was in was full of crooks. Someone (s) came in my apartment everytime I went somewhere like grocery store. Everytime. It's creepy being watched liked that. They took my good batteries like from smoke detector and put their bad ones in Moving doesn't help the same thing happens. They break ruin or steal. Government gave them money to update and they put painted refrigerators and stoves in w/o warranty. Put cold hard gray floors through out. And big hot water heaters in 1bd. I'm too upset. Yesterday they were in my drawers and tied my bras that haven't been stolen up with hair ties. They ruined my home security and changed the Sim card so the the guy looked different. Ruined two lap top computers. The new lap top that I had put the picture from security camera on was changed and they named the file Cricket. There's needs to be some right minded persons overseeing these apartments including professional property management companies. I can't have anything. I go to the laundry mat my clean blankets they get black dirty. Steal my laundry mat quarters. Steal my medicine. They put none of that money from the government toward security. The same crooks go from apartment to apartment as managers. They can get jobs bilingual when there should be phones for that. They may look and sound normal but there are devil's very wicked with sheep clothing.They did nothing toward weatherization, security, noise barriers. I can see the weather under my door. Single pane windows. Doctors this why they're sick and you can't figure it out. It goes on and on. I want my life back. I've been sick almost ten years now and it's terrible apartment living. Keep the people's tax money it's being stolen. I can't progress living in this kind of stressful environment.

  2. Lets face it , many "low income" people are low income because they work under the table .
    A compete joke . Younger people who claim to be "low income" never get looked at carefully .
    If you've got a newer car owned and registered yet claim income thats impossible to survive on then its obvious !
    People are getting huge stimulus checks (families) yet they don't pay their rent ?

  3. If real estate developers and the government really wanted to help the people and the economy, the government would tell the real estate developers that they can no longer sell their homes, their rentals, their apartments or their condos unless they're no longer in business to support the residents but they can continue to build more if they're able to manage the upkeep of their current properties. This would keep the banks and people who are only interested in an investment for a return to stay away and allow the true developers to expand and house the people in need. It would also help to keep prices low and manageable for the developers tenants without the fear of banks or greedy investors raising the price for personal gain. Is this socialism or common sense that should be practiced in any form of governing for the people and by the people? If the government or developers had any morals than this would be standard practice.

  4. can you do an update since Biden? How can I start an education and apartment housing for the workforce and economic development professional resource center built-in?

  5. A 1-bedroom at the Arbors of Bowling Green (Ohio) is $700 before utilities. It is a LIHTC program property.

    Low income apartment my ass.

    It's one of the most expensive places in town. Not the most expensive, but much closer to that end of the spectrum than the cheaper side.

    The landlords (T&R Properties) are more than happy to utilize the government assistance that some tenants are getting in order to jack up the prices. So on top of getting squeezed for all I am worth, I'm also paying the rent for many of my neighbors. Fantastic.

    Beautiful system we have here.

    Currently I'm trying to get a 2-bedroom for $530 elsewhere. Compared to the $700 1-bedroom option… why not?

  6. Honestly, LIHTC has significant issues. Typically, it does not provide enough funding for a single project to be completed. This makes it so that organizations receiving the funds have to obtain supplementary funding from other programs, where available. Not to mention, that there have been cases where it does not appear that the money was actually used to build housing. I think the US would better off, if we borrowed from the UK, German, Singapore, and French models for low-income housing. Our low-income housing, even after having been privatized during the 70s (i.e., relying on non-profits and for-profit developers rather than Public Housing Authorities), is still fraught with controversy.

  7. Mixed income housing sure helps get out of creating ghettos. Heard there's a 60 to 40% number of market to low income residents. I think supportive housing could be the way of the future till the glut of baby boomers go on to their final Magic Carpet Ride. Having housing with health providers and caregivers services is going to mitigate more than the eye can see behind a senior's apartment door. Help the Aged. No matter their income.

  8. How about getting more rules & taxes for Greedy land lords ! 800- $. & up is NOT low income rent

  9. Question I am in the military and does our bah and bas count as income for the tax credit

  10. WOW EXCELLENT VIDEO! do you think that middle income families are benefitted by the LIHTC?

  11. That is a lot of shitty math for tax payers. A discount of 60-70% when the building only needs to be 40-50% low-income. And being in mixed housing has some economic and safety benefits…but also has negative consequences socially-emotionally due to the class separation (low-income residents are often barred from accessing the full amenities of a mixed housing building such as the gym, sauna, pool, etc. and their units are often grouped together on the lowest floors.)

  12. My favourite housing policy is the turn landlords into pet food policy
    It has two major benefits:
    1. More food for pets
    2. No more rent, so the incomes of most families in poverty will almost double overnight

  13. What about contracting retail banks balance sheets, and cutting red tape for housing zoning, as restricting house flipping by taxing everyone who sell houses withing 5 years from initial purchase, and by the way making sure that real estate cannot be used as a money laundry vehicles.

  14. According to US Census data 614K, new houses were sold in sold and 667K in 2018. The 2018 tax cuts don't seem to be disincentivizing affordable housing through a lower corporate tax.
    Construction of private units is up from even 5 years ago. Some of the criticism seems unfounded. However, I do think the should be more incentive to build low and medium income housing.

    https://www.macrotrends.net/1314/housing-starts-historical-chart

  15. the solution is to destroy capitalism

    sorry aaron but i had to save everyone the click

  16. Purely from an affordable housing stock perspective, LIHTC is simply not a big enough program. The relative pittance it contributes—and its vulnerability to exploitation by developers—makes it hilariously ill-equipped to solve the massive shorting in affordable housing in the US. Much more robust public housing initiatives will be necessary to provide anything like the necessary stock. Some have even suggested that large municipalities could get the ball rolling since the federal government doesn't seem like it's going to be getting anything together any time soon.