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One of the major reasons, local officials say: Cincinnati's rising rents. The local housing authority is on pace to spend more than $101 million on the voucher program by the end of the year but ...
The gap between the supply and demand for affordable rental housing for extremely low-income households in Cincinnati is about 28,000 units, according to a 2017 report from Xavier University's ...
Section 8 of the Housing Act of 1937 ( 42 U.S.C. § 1437f ), commonly known as Section 8, provides rental housing assistance to low-income households in the United States by paying private landlords on behalf of these tenants. Approximately 68% of this assistance benefits seniors, children, and individuals with disabilities. [1]
The federal government, through its Low-Income Housing Tax Credit program (which in 2012 paid for construction of 90% of all subsidized rental housing in the US), spends $6 billion per year to finance 50,000 low-income rental units annually, with median costs per unit for new construction (2011–2015) ranging from $126,000 in Texas to $326,000 ...
Cincinnati needs almost 50,000 more units to serve roughly the city's 84,000 low-income individuals, according to the National Low Income Housing Coalition. Local officials have made it clear they ...
t. e. The Low-Income Housing Tax Credit (LIHTC) is a federal program in the United States that awards tax credits to housing developers in exchange for agreeing to reserve a certain fraction of rent-restricted units for lower-income households. [1] The program was created under the Tax Reform Act of 1986 (TRA86) to incentivize the use of ...
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