By Chris Holden on May 11th, 2023
The Low-Income Housing Tax Credit (LIHTC) program allows low and moderate-income renters to pay rent at an affordable rate. It is administered by the Internal Revenue Service (IRS).
LIHTC participants have a unit assigned to them by a federal housing authority, property owner, or private property management company.
For LIHTC apartments, the monthly rent is not adjusted by income, but it is lower than the market rate. There are also minimum income requirements, so low-income renters may not qualify for some LIHTC properties. And when looking for housing, the frequency of waiting list openings varies, depending on the area.
So, when there’s an opportunity to apply, it’s important to know the basics before submitting an application.
To learn more about the LIHTC program, start by reviewing how the qualifications for LIHTC apartments:
Increase your chances of getting on a waiting list.
You can apply to as many open waiting lists as you want! Look for online applications for easier access to more waiting lists.Irina Petrova says:
"I recommend for everyone who needs information about Section 8 or Public Housing to use Affordable Housing Online."