A nationwide shortage of roughly 1.5 million housing units is making it increasingly difficult for American families to afford to purchase or rent a home. NAHB developed a 10-point housing plan to help tame shelter inflation and ease the housing affordability crisis by removing barriers that hinder the construction of new homes and apartments.
One of the points NAHB advocates for in its plan is the passage of federal tax legislation to expand production of affordable and attainable housing — specifically expanding the Low-Income Housing Tax Credit (LIHTC), which focuses on housing for lower-income households.
“LIHTC is an important program because it’s the only program creating new affordable housing at any significant scale.”
These efforts aim to help increase not only the supply of LIHTC units, but address the shortage of affordable housing options across the board — including workforce housing, which is generally regarded to be between the 60% of area median income (AMI) LIHTC limit and approximately 100% of AMI.
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