The Iowa Finance Authority (IFA) has reserved more than $11.3 million in federal low-income housing tax credits to nine developments across the state.
The awards will support the construction or rehabilitation of 338 affordable rental homes in Council Bluffs, Des Moines, Greenfield, Ottumwa, Perry, Sioux City, Story City, Urbandale, and Washington.
“The awards announced today are an important piece of supporting Iowa’s full housing continuum, helping create affordable rental homes that allow Iowans to live, work, and build their futures in the communities they call home,” said IFA and Iowa Economic Development Authority director Debi Durham.
IFA received 16 applications requesting more than $21 million in housing tax credits during the 2026 tax credit round, with approximately $11.5 million available to allocate. Because the credits are awarded annually for a 10-year period, they represent nearly $113 million in total federal tax credit investment.
In addition to reserving the housing tax credits, IFA awarded $1 million in federal HOME program funds.
Two of the funded developments are in Ottumwa and Urbandale, which were also designated as Iowa Thriving Communities after completing a competitive application process that demonstrated their commitment to creating housing opportunities for all. The designation recognizes communities taking proactive steps to address local housing needs and provides incentive points for eligible housing programs, including the housing tax credit program.
View a list of the funded developments.