Shining a Spotlight on Underserved Markets in 2022
Freddie Mac Multifamily serves as a stable source of financing through all economic cycles, with an emphasis on responsibly creating opportunities for affordable and sustainable rental housing. Our Duty to Serve plan is an integrated and comprehensive approach to setting industry standards and analyzing the work we do to benefit underserved communities across the country.
In 2022, Freddie Mac released three reports that take a closer look at the importance of ensuring the longevity and sustainability of the Low-Income Housing Tax Credit (LIHTC) program along with alternative methods the industry could consider when determining if areas provide higher opportunity for renters.
LIHTC at Risk
This report examines the risk of LIHTC properties exiting the program and their impact on the preservation of affordable housing. It looks at the factors that are correlated with properties leaving the program and examine what happens to units once they are no longer subject to LIHTC affordability restrictions.
Climate Resiliency Incentives in LIHTC Qualified Allocation Plans
This white paper builds on the 2021 report by taking a deeper look at how climate resiliency measures are factored into the LIHTC program, which supports the development and rehabilitation of affordable housing. To do so, the paper analyzes all 50 states and Washington, D.C.’s LIHTC Qualified Allocation Plans.
High Opportunity Spectrum
This report builds from the foundation of the currently defined high opportunity areas by considering localized information to gain a deeper understanding. While the current definition is binary — either it is high opportunity, or it is not — this need not be the case. Instead, high opportunity could be a spectrum, meaning areas could represent some form of opportunity to its residents even if the areas do not meet the exact definition.