NCSHA Develops Income-Averaging Q&A

The recent omnibus bill provided an income-averaging option in the low-income housing tax credit (LIHTC) program.

The move allows properties to accept residents with higher average median incomes as long as the overall average of tenants in the project does not exceed 60% of the area median income. This will allow LIHTC developments to serve a greater range of incomes.

The National Council of State Housing Agencies (NCSHA) has developed a helpful Q&A to answer frequently asked questions about income averaging.

Click on the link to learn more from NCSHA.