Harvard Report Highlights Persistent Gap in Affordable Housing
The low-income housing tax credit (LIHTC) remains the largest provider of assisted rental affordable housing in America and a 12.5 percent increase in LIHTC allocations over the next four years will provide a boost, but there remains a significant gap in affordable housing, according to the State of the Nation’s Housing 2018. The annual report issued today by the Joint Center for Housing Studies of Harvard University says that 38.1 million households in 2016–one-third of the population–spent more than 30 percent of their income on housing. That number was down 800,000 from the previous year, but 6.5 million higher than in 2001. The report calls for an additional increase to the LIHTC program, as well as boosts for the U.S. Department of Housing and Urban Development’s Housing Choice Voucher, HOME and Community Development Block Grant programs.