Statistical Overview of the LIHTC Program,
1987 to 2005
Since beginning operation in the 1987 calendar year, the Low Income Housing
Tax Credit program has allocated $7.5 billion in federal tax credits for low income housing units.
The following table illustrates year-by-year allocations since 1987. Totals
include all 50 states, plus Puerto Rico and the Virgin Islands.
|
Year |
Total Allocated |
Total Units |
Tax Credit Dollars Allocated Per Unit |
|
1987 |
$62,885,954 |
34,491 |
$1,823 |
|
1988 |
$209,779,916 |
81,408 |
$2,577 |
|
1989 |
$307,182,516 |
126,200 |
$2,434 |
|
1990 |
$213,148,840 |
74,029 |
$2,879 |
|
1991 |
$400,420,875 |
111,970 |
$3,576 |
|
1992 |
$337,032,273 |
91,300 |
$3,691 |
|
1993 |
$424,701,977 |
103,756 |
$4,093 |
|
1994 |
$494,914,237 |
117,099 |
$4,226 |
|
1995 |
$420,922,941 |
86,343 |
$4,875 |
|
1996 |
$378,920,852 |
77,003 |
$4,921 |
|
1997 |
$382,894,328 |
70,453 |
$5,435 |
|
1998 |
$368,077,833 |
67,822 |
$5,427 |
|
1999 |
$374,670,775 |
62,240 |
$6,020 |
|
2000 |
$378,749,319 |
59,601 |
$6,355 |
|
2001 |
$462,426,235 |
67,261 |
$6,875 |
|
2002 |
$524,379,530 |
69,310 |
$7,566 |
|
2003 |
$572,121,789 |
73,877 |
$7,744 |
|
2004 |
$605,786,677 |
75,600 |
$8,013 |
|
2005 |
$612,605,239 |
70,630 |
$8,673 |
|
2006 |
$758,986,603 |
74,278 |
$10,218 |
|
Total |
$8,290,608,709 |
1,594,671 |
$5,199 |
As the table illustrates, not every LIHTC dollar is allocated
every year. Those dollars not allocated in a given year are allowed to
carry over to the next year, hence the higher amounts allocated in some
years. In addition, some dollars not allocated, as well as allocations for units
that are not placed in service, are placed in a national pool and redistributed
to the states. As the table illustrates, the average allocation per low income
unit has increased significantly, from $1,823 in 1987 to $10,218 in
2006. This increase is most reflective of the increase in land
acquisition and development costs. It is worth noting that the increase in allocations
since 2001 is primarily a result of increasing the per capita rate on
which allocations are based.
The following pages provide detailed analyses of the LIHTC program at the state level.
Back to main LIHTC page
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