CFED Assets & Opportunity Scorecard
Preservation of Affordable Rental Housing
Definition
Percentage of low-income housing tax credits that a state allocated for the preservation of affordable rental housing, 2010 and 2011.
Description
Housing tax credits reduce the tax liability of owners and developers of rental housing for low-income families, or those earning less than 60% of area median income. These tax credits provide effective incentives for owners and developers to preserve the affordable housing stock, particularly in large urban areas. This measure looks at low-income housing tax credits allocated for preservation of affordable housing as a percentage of total low-income housing tax credits allocated.
For more information, please visit the National Housing Trust.
Preservation of Affordable Rental Housing
| State | Percent of LIHTC Used for Preservation of Affordable Rental Housing (%) |
|---|---|
| Alabama | 0.0% 1 |
| Alaska | 100.0% 1 |
| Arizona | 92.4% |
| Arkansas | — 1, 2 |
| California | 22.9% |
| Colorado | 5.9% |
| Connecticut | — 1, 2 |
| Delaware | 86.8% |
| District of Columbia | — 1, 2 |
| Florida | 3.7% 2 |
| Georgia | 14.4% |
| Hawaii | 11.5% |
| Idaho | 29.5% |
| Illinois | 33.2% |
| Indiana | 17.2% |
| Iowa | 25.7% |
| Kansas | 45.8% |
| Kentucky | 58.0% |
| Louisiana | 59.2% |
| Maine | 43.6% |
| Maryland | 40.9% |
| Massachusetts | 23.1% 1 |
| Michigan | 78.8% |
| Minnesota | 56.7% |
| Mississippi | — 1, 2 |
| Missouri | 44.2% |
| Montana | 22.8% |
| Nebraska | 6.3% |
| Nevada | 7.6% 1 |
| New Hampshire | 21.8% |
| New Jersey | 11.6% 1 |
| New Mexico | 60.4% |
| New York | 27.0% 1, 2 |
| North Carolina | 15.1% |
| North Dakota | 18.4% |
| Ohio | 52.9% 1 |
| Oklahoma | 30.5% |
| Oregon | 20.7% |
| Pennsylvania | 30.0% 1 |
| Rhode Island | 94.4% |
| South Carolina | 10.0% 1 |
| South Dakota | 24.3% |
| Tennessee | 8.5% |
| Texas | 40.0% |
| Utah | 11.1% |
| Vermont | 45.9% |
| Virginia | 57.6% |
| Washington | 19.3% |
| West Virginia | 48.5% 3 |
| Wisconsin | 40.9% 1 |
| Wyoming | 0.0% |
Source
State HFA Factbook: 2010 NCSHA Annual Survey Results. Washington, DC: National Council of State Housing Finance Agencies, 2010.
“4% Low Income Housing Tax Credit and the Preservation of Existing Affordable Multifamily Housing.” Washington, DC: National Housing Trust, 2011.
“9% Low Income Housing Tax Credit and the Preservation of Existing Affordable Multifamily Housing.” Washington, DC: National Housing Trust, 2011.
"—" indicates that no data is available.
Footnotes
1. Data was not available for the use of 4% LIHTC for preservation of affordable rental housing for Alabama, Alaska, Arkansas, Connecticut, the District of Columbia, Massachusetts, Mississippi, Nevada, New Jersey, New York HFA, Ohio, Pennsylvania, South Carolina, and Wisconsin.
2. Data was not available for the use of 9% LIHTC for preservation of affordable rental housing for the Arkansas, Connecticut, the District of Columbia, Florida, Mississippi, and New York HFA.
3. Data was not available in this state for LIHTC that was allocated for tax-exempt bond financing of new construction.
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