For more than 30 years, Arbor has been committed to growing financial partnerships that meaningfully impact communities nationwide. From planting trees to celebrate closed loans to supporting environmental organizations, our work has always been a win-win for our financial partners and the planet. But just as leaves change with each passing season, Arbor’s branding is evolving to seize the moment by embracing our roots with True Colors.
LIHTC Utilization Reaches New High as Low Housing Supply Erodes Affordability
With the cost of living climbing, the need for affordable housing has become more urgent. Although demand continues to outpace available supply, multifamily investment in affordable housing is fortified by Low-Income Housing Tax Credits (LIHTC), Project-Based Section 8, and the Housing Choice Voucher (HCV) programs. Arbor’s Affordable Housing Trends Report Fall 2023, developed in partnership with Chandan Economics, examines the supply-driven programs and policies designed to improve supply at a point in time when federal gridlock has stalled many funding increases.
Key Findings:
- The number of households of renters living in inadequate conditions who do not receive rental assistance has grown by 70% over the past two decades.
- Utilization of the 4% Low-Income Housing Tax Credit (LIHTC) reached a new high as affordable housing rehabilitations outpaced ground-up development.
- With the 2024 federal budget in limbo, the U.S. Department of Housing and Urban Development’s (HUD) spending programs are currently frozen at 2023 levels, delaying an expansion of the Housing Choice Voucher (HCV) program.