NYU Furman Center Study Reveals Incomes and Rent Burdens of LIHTC Households

A paper recently released by Katherine O’Regan, Associate Professor at NYU Wagner Graduate School and the Furman Center and Keren Horn, Assistant Professor of Economics at the University of Massachusetts Boston, describes the incomes and rent burdens of tenants living in LIHTC properties. This is the first time this type of analysis has been conducted on the LIHTC program, which is currently the largest federal affordable housing production program. The authors used tenant-level data from 15 states, representing over 30% of all LIHTC units and all regions of the country. The authors found that LIHTC recipients tend to have higher incomes than households assisted by other federal rental assistance programs, but that the LIHTC program does serve a significant number of extremely low income (ELI) households, those earning at or below 30% of the area median income (AMI). Approximately 75% of all households served by HUD programs such as public housing, vouchers and project-based Section 8 are ELI, compared to 43% of LIHTC households. Moving up the income scale, the study reveals that 37% of LIHTC households earn between 31-50% of AMI, 14% earn between 51-60% of AMI and the remaining 7% earn above 60% of AMI.  Download the full study here (pdf).



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