More LIHTC Projects Developed in South
HUD’s latest revision to the Low-Income Housing Tax Credit (LIHTC) database in February 2010 reveals that more new housing projects are located in the southern region of the U.S. compared to the Midwest, West, and Northeast.
The database, which includes information on nearly 31,251 projects and more than 1.8 million housing units placed in service between 1987 and 2007, shows 32.4 percents of projects were located in the South, followed by 26.7 percent in the Midwest, 22.1 percent in the West, and 18.7 percent in the Northeast.
On average, nearly 1,450 projects and 108,000 units were placed in service in each year between 1995 and 2007. Approximately 45.2 percent of those projects were in central cities, with 30.6 percent in the suburbs, and 24.2 percent in nonmetropolitan areas.
Also, in 2007, one-fourth of LIHTC units were located in census tracts where over 30 percent of households had incomes below the poverty line.
To get a closer look at the 36 updated tables in the database, go to http://www.huduser.org/Datasets/lihtc/tables9507.pdf.