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Statistical Overview of the LIHTC Program,
1987 to 2008

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
2007 $790,346,182 74,663 $10,586
2008 $932,794,439 91,911 $10,149
Total $10,013,749,330 1,761,245 $5,686

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 $10,149 in 2008.  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. Our spreadsheet has data not listed below, so for the full report, please download the spreadsheet.

Back to main LIHTC page
 

   

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