Nearly 90% of residents reported that their housing had improved after moving into a low-income housing tax credit (LIHTC) development, according to a new study.
“One in five respondents said that they had experienced homelessness before moving into their current home, and another 20% reported that they had been forced to move involuntarily, either as the result of eviction or an unsustainable rent increase,” says the report released today by the Terner Center for Housing Innovation at the University of California at Berkeley (UCB).
In addition, 50% reported that they consistently worried about paying for rent prior to moving into their LIHTC unit, and 40% said they had either worried about paying for food or skipped meals as a result of their high housing cost burdens.
The LIHTC program, which has helped produce about 3 million housing units, is the nation’s most important source of funding for affordable housing. Despite the program’s significance in the market, there’s little research on LIHTC residents and their experiences, says Carolina K. Reid, the report’s author and faculty research advisor at the Terner Center.