Lisa Mailhot | October 8, 2024
Buyers
In the face of rising rent costs, the future of affordable housing in the U.S. is at risk. The Low-Income Housing Tax Credit (LIHTC) program, which has kept millions of rental units affordable for decades, is now seeing its 30-year expiration period. As deadlines approach, as many as 223,000 affordable housing units could revert to market-rate prices in the next five years, forcing families into a housing market they may not afford.
This transition has been devastating for individuals like Marina Maalouf in Los Angeles’ Chinatown. Her rent surged from $1,100 to $2,660 overnight when her apartment’s affordable designation ended. With limited recourse, tenants are left fighting protracted legal battles or facing the harsh reality of homelessness.
Since its inception, the LIHTC program has built 3.6 million affordable housing units, becoming the backbone of affordable housing nationwide. However, the system’s design allows affordability terms to expire after 30 years, leading to the current crisis. While some states like California and Colorado are working to extend affordability measures, others lag, further exacerbating the nationwide shortage of affordable housing.
Local governments and nonprofits are stepping in, but resources are limited. Policymakers must balance the challenges of preserving existing affordable housing units with the growing demand for new construction. Without comprehensive planning, families like Maalouf’s are at risk of displacement, with no clear solution in sight. As Rossbert from Housing Colorado notes, “It’s hard to get out of that cycle,” emphasizing that as units are lost, the crisis deepens.
Let’s connect if you’re considering a move to Orange County and want to explore affordable housing options or learn about the local market trends. Orange County offers diverse opportunities for homeowners, and I’m here to help you find the perfect fit.
New-home sales slowed in July 2025 as affordability challenges weighed heavily on buyers, despite builder incentives and discounts. With prices dropping below existing… Read more
Nearly half of U.S. workers are reconsidering big financial moves like purchasing a home because of concerns over job stability, according to a new Redfin survey. Whil… Read more
July 2025 housing starts data shows single-family construction climbing in the South while slowing in other parts of the country. For Orange County buyers and sellers,… Read more
Apartment-building permits slowed across the U.S. this past year, signaling tighter future rental supply even as demand firms back up. Here’s what the national trend—a… Read more
Mortgage rates have dipped to their lowest point since April, creating new opportunities for buyers and shifting the negotiating landscape for sellers. This drop could… Read more
Renting a home comes with more than just monthly rent. Hidden costs like utilities, insurance, and maintenance can vary significantly between houses and apartments. Le… Read more
Mortgage rates have fallen to their lowest point in nearly a year, giving homebuyers more room in their budgets and creating fresh opportunities for sellers. Discover … Read more
Discover the latest housing market trends, including significant home price drops in major U.S. metros like West Palm Beach and Austin. Learn what these changes mean f… Read more
Home values are now falling annually in four major U.S. cities, signaling a shift in the national housing market. Learn which metros are affected, why this matters, an… Read more
Let's find a time that suits you best to chat about your goals, show you how we work, and figure out how we can help you the most