The Low-Income Housing Tax Credit Program in Texas: Opportunities for State and Local Preservation Strategies
The Low-Income Housing Tax Credit (LIHTC) program is the largest affordable rental housing program in Texas and the United States. Close to 260,000 Texas families live in over 2,500 LIHTC properties across the state. As a result of weak preservation policies and programs, Texas has lost thousands of these affordable homes, and without sweeping policy and program changes, the state stands to lose thousands more. This report (1) highlights why so many LIHTC properties in Texas are at risk of being converted to market rate rental properties, (2) provides an overview of Texas’ current preservation policies, (3) presents national best practices for LIHTC preservation, and (4) identifies strategies that Texas and cities could adopt to ensure the long-term affordability of LIHTC properties.