Studies Show Benefits of the Housing Credit in North Carolina

The North Carolina Housing Finance Agency recently released two studies, The Impact of the Low-Income Housing Tax Credit in North Carolina and The Low-Income Housing Tax Credit and Neighborhood Property Values in North Carolina, both of which provide an overview of the critical role that the Housing Credit plays in communities and residents’ lives. The studies show that in North Carolina, the Housing Credit saves up to $2.96 in health care dollars for every $1 invested over the life of the program, explaining that tenants of targeted units have very low incomes and their health care costs are typically paid by taxpayer dollars. The studies also find that the Housing Credit has generated $923 million in tax revenue over the years; has created 137,000 jobs overall; and properties built or preserved with the Credit do not negatively impact surrounding home values.