Low Income Housing Credit Calculator
What is Low Income Housing Credit and Why it Matters
Low Income Housing Credit (LIHC) is a tax credit program designed to encourage the investment of private capital in the development of affordable rental housing for low-income households…
How to Use This Calculator
- Enter your annual income.
- Select your household size.
- Click ‘Calculate’.
Formula & Methodology
The LIHC is calculated based on the household’s adjusted income and household size…
Real-World Examples
Let’s look at three examples to illustrate how the LIHC is calculated…
Data & Statistics
| Household Size | Income Limit |
|---|---|
| 1 | $30,660 |
| 2 | $35,240 |
| 3 | $40,060 |
| 4 | $45,120 |
| 5 | $50,440 |
| 6 | $56,000 |
| 7 | $61,800 |
| 8 | $67,800 |
| Household Size | Minimum Rent |
|---|---|
| 1 | $360 |
| 2 | $420 |
| 3 | $480 |
| 4 | $540 |
| 5 | $600 |
| 6 | $660 |
| 7 | $720 |
| 8 | $780 |
Expert Tips
- Always check the latest income limits and minimum rents.
- Consider other housing assistance programs that you may qualify for.
- Contact your local housing authority for personalized assistance.
Interactive FAQ
What is the maximum income to qualify for LIHC?
The maximum income limit varies by household size and location. In 2021, the maximum income limit for a household of one is $67,800, and for a household of eight, it is $111,400.
How does the LIHC affect my rent?
The LIHC can reduce the amount of rent you pay. The maximum rent reduction is typically around 30% of the gross rent.
For more information, visit the U.S. Department of Housing and Urban Development or the National Low Income Housing Coalition.