HUD released an updated version of the Low Income Housing Tax Credit Database on September 22. This resource provides detailed information on the more than two million Low Income Housing Tax Credit (LIHTC) units placed in service from 1987 to 2009.
The LIHTC Database has been updated every year since 1997. The new version was revised to include 1,598 properties and 112,696 units that were placed in service in 2008 and 2009, as well as close to 21,000 properties that were placed in service between 1995 and 2007, but were not included in previous versions of the database. HUD notes, however, that there were 19 state and local allocating agencies that did not submit data on properties placed in service in 2008 and 21 that failed to do so in 2009.
HUD’s database is the only source of comprehensive information on LIHTC properties. It includes characteristics such as property address, number of total units, number of low income units, population served, type of credit provided, and other sources of funding included in each project. A short report was released along with the data, summarizing some of these characteristics.
The most complete data comes from 1995-2009, so the analysis in the report focuses on that time period. In those years, an average of 1,386 projects and close to 103,000 units were placed into service each year. The average number of units in a LIHTC property is 75, with more than 48% of properties containing more than 50 units. According to the data, 95% of the total units placed in service from 1995-2009 are reserved for households with incomes of 60% the area median or below.
The two subsidies most often used in conjunction with LIHTCs are tax-exempt bonds and Rural Housing Service Section 515, with 21.5% and 9.4% of LIHTC properties, respectively, also using these programs. The percentage of LIHTC properties with RHS Section 515 loans has dropped steadily since 1995 as the funding for that program has decreased.
For more information about the database, to download the entire database, to use the interactive system for accessing specific data, and to download the report on the updated data, go to http://www.huduser.org/portal/datasets/lihtc.html