“It’s a Math Problem”: The Tension Between the LIHTC Program and Efforts to Promote Tenants’ Housing Security

For nearly forty years, the Low-Income Housing Tax Credit (LIHTC) program has subsidized private developers to supply affordable housing. However, recent years have seen significant increases in development and operating expenses, leading to rising costs for developers. Against this backdrop, I show that while affordable housing developers support tenant rights in principle, they tend to oppose tenant protection initiatives that can affect their costs and revenues—specifically, increased eviction filing fees and rent stabilization ordinances. Drawing on 46 in-depth interviews with for-profit and nonprofit affordable housing developers, I show that they view these tenant protections as incompatible with developing and operating LIHTC housing. Many report engaging in advocacy efforts to thwart these tenant protection initiatives, both individually and through trade associations at various geographic levels. These findings highlight a tension between the LIHTC program and efforts to promote low-income tenants’ housing security.