Are there any limitations placed on the rent that owners of LIHTC properties may charge?
Yes. First of all, to be eligible to participate in the LIHTC program, projects must meet either of the following requirements: at least 20 percent of the units must be rented to households whose incomes do not exceed 50 percent of the area median income (AMI) or at least 40 percent of the units must be set aside for households whose incomes do not exceed 60 percent of the AMI. In practice, usually 100 percent of the units in a development qualify for LIHTCs.
