Primary Season State Profile: Iowa

Published by Peter Lawrence on Monday, February 1, 2016 - 12:00am

In 2014, approximately 41 percent of Iowa’s 3 million residents lived in non-metropolitan areas. Iowa has been largely shielded from unemployment concerns; the unemployment rate in 2013 was 3.3 percent. Median household income in 2013 across the state was roughly $52,000, with nearly 13 percent of individuals and 8 percent of families living below the poverty level. More than 83,000 households in Iowa pay more than half of their income on rent.

Politics

  • Presidential Caucus: Feb. 1, 2016
  • Number of delegates: 30 Republican/52 Democratic
  • Allocation method: Proportional Caucus/Convention
  • 6 electoral votes
  • 2012 Results: Barack Obama won Iowa by 52 percent to 47 percent over Mitt Romney.

Tax Credit Usage in Iowa

In March 2015, the Iowa Finance Agency approved $79 million in federal low-income housing tax credit (LIHTCs) for 13 affordable rental housing developments. All 13 of the developments are new construction; eight developments will be reserved for residents over 55 years old. To understand Iowa’s LIHTC priorities, check out the state’s qualified allocation plan (QAP). As of 2013, Iowa’s state financing agency has allocated more than $186 million in LIHTCs helping to finance more than 700 developments since 1987. The National Council of State Housing Agencies reports that 45 percent of LIHTC units in Iowa are for seniors and 35 percent are in rural areas.

Blog Graph State Profile Iowa - LIHTC Properties and Poverty
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The state’s senior senator, Sen. Charles Grassley, R-Iowa, is commonly known as “the father of the wind Production Tax Credit (PTC)” for his role in the credit’s creation and extension. The PTC generally enjoys support in the state, and with good reason – Iowa has the second most installed wind capacity (6,212 MW), behind Texas and ahead of California.

The LIHTC, new markets tax credit (NMTC) and historic tax credit (HTC) have combined to assist in the creation or rehabilitation of thousands of properties and the addition of more than 40,000 jobs in Iowa. For other economic benefits the credits have created in the state, see the table below.

Blog Graph State Profile Iowa - LIHTC, NMTC and HTC Use
Click to Enlarge