x Impact of LIHTC Housing in the US - Spectrum Enterprises


Impact of LIHTC Housing in the US

Written by Harold Tucker, Spectrum Enterprises

The LIHTC program is the most successful affordable housing program in U.S history. What does that mean? Does it simply mean the country has a lot of families living in affordable housing? Yes, but there is so much more! Besides providing thousands of affordable units to families the impact the LITHC program has on a community is much wider.

According to the NAHB (National Association of Home Builders) every 1,000 unit LIHTC apartment developed creates 1,130 jobs. A lot of those jobs are in the construction sector. Nationwide the LITHC program creates 95,700 jobs, $3.5 billion in federal, state and local taxes and $9.1 billion in economic income (wages and business income).

The benefits to the local area in service and trade, the food industry, health industry and education remain long after the LIHTC project is constructed.  Up to 30 jobs in each field remain in close proximity to the LIHTC project after construction.

A last thought. 90% of affordable housing is from the Low Income Tax Credit Housing program. 90%! How can this program not impact almost every city in the United States? Citizens everyday drive by LIHTC housing and don’t know it. The perception of affordable housing is often one of dilapidated buildings in crime ridden areas of the city. We who work in this housing field know this is not the case. The impact of the affordable housing program is wide across this country and we are all are part of it. 

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