Over time, the number of LIHTC units built has decreased, while the number of tax credit dollars has risen.

[Chart]

Notes

1. Monetary data has been discounted using the 10-year Treasury Constant Maturity Rate from the Board of Governors of the Federal Reserve System and adjusted for inflation to 2014 dollars using the Bureau of Labor Statistics Consumer Price Index.
2. The LIHTC program received additional funding during the economic recession as part of the American Recovery and Reinvestment Act.
3. Units that received reallocations from 2009 to 2014 are not included in the yearly unit count.
4. This data reflects only the 9 percent tax credit (the largest of two LIHTC programs), which has a set allocation amount determined by population and rising annually with inflation.

Source: Frontline/NPR analysis of data from the National Council of State Housing Agencies, State HFA Factbooks, 1997-2014; Board of Governors of the Federal Reserve System; Bureau of Labor Statistics Consumer Price Index

Credit: Jerrel Floyd and Emma Schwartz/Frontline; Meg Anderson, Alyson Hurt and Laura Sullivan/NPR