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Since its inception, the nation’s Low-Income Housing Tax Credit (LIHTC) program helped produce more than 2.2 million affordable apartments, accounting for roughly one-third of all multifamily rental housing constructed between 1987 and 2006. A recent HUD report entitled "What Happens to Low-Income Housing Tax Credit Properties at Year 15 and Beyond?" finds that after an initial 15-year required “affordability period,” the vast majority of these LIHTC properties remain affordable for working families.
