Page 12 - Balancing Priorities

BALANCING PRIORITIES: Preservation and Neighborhood Opportunity in the Low-Income Housing Tax Credit Program Beyond Year 30 Findings As many as 8,420 LIHTC properties accounting for 486,799 affordable rental units will reach Year 30 between 2020 and 2029 and will have no other subsidies in place extending their affordability restrictions (Figure 1). This amounts to nearly a quarter of all current LIHTC units. The majority of these LIHTC units will reach Year 30 between 2025 and 2029. At least 81,513 (17%) of LIHTC units reaching Year 30 between 2020 and 2029 with no other subsidies carrying further affordability restrictions have non-pro t owners and FIGURE 1: CUMULATIVE COUNT OF LIHTC UNITS LOSING ALL AFFORDABILITY RESTRICTIONS (2020-2029) 486,799 391,202 319,803 257,913 191,895 131,362 15,131 38,099 61,068 89,952 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 Source: NLIHC and PAHRC, 2018 FIGURE 2: OVERALL NEIGHBORHOOD DESIRABILITY Very-Low Low LIHTC Units Reaching Year 30 (2020-2029) All Neighborhoods All Renter Households Renter Households Below 80% AMI Moderate High Very-High 42% 26% 17% 10% 5% 23% 21% 20% 20% 17% 29% 24% 21% 16% 10% 36% 25% 19% 13% 7% Source: NLIHC and PAHRC, 2018 NATIONAL LOW INCOME HOUSING COALITION AND THE PUBLIC AND AFFORDABLE HOUSING RESEARCH CORPORATION 12