California Policy Dashboard

Explore the leading resources, data, and reporting for California's most critical policy issues.

Housing & Homelessness
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California Policy Lab

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PPIC

All PPIC Housing
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Federal Role

LIHTC & Section 8 Summary

Low-Income Housing Tax Credit (LIHTC): Designed to incentivize private development of affordable housing. Developers are awarded tax credits (either 4% or 9%) which they sell to private investors for upfront equity. This reduces their bank loans, allowing them to charge sub-market rents. However, the value of these credits fluctuates with corporate tax rates (e.g., the 2017 tax cuts reduced their value).

Housing Choice Vouchers (Section 8): Provides $30 billion annually to subsidize rent for low-income tenants, who pay 30% of their income toward rent. Tenant-based vouchers stay with the individual on the private market, while Project-based vouchers are tied to specific affordable housing units, ensuring guaranteed rental income that makes those projects financially viable to build and maintain.

Federal Housing Resources & Readings

Operation of Housing Markets Housing and Federal Tax Policy Discrimination & Exclusionary Zoning Housing Choice Vouchers Evictions & Homelessness