Fannie Mae’s Low-Income Housing Tax Credit (LIHTC) equity investments deliver on our mission to provide access to affordable housing throughout the United States.

We provide a reliable source of capital to create and preserve affordable rental housing and have invested in hundreds of properties since 2018 to provide quality housing for those most in need. We work closely with syndicator partners, developers, and housing experts to help preserve and increase the supply of affordable housing through our investments.

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Helping thousands find affordable rental housing

Our work In LIHTC supports rental housing when and where those needs are not being met. We have made investments in 47 states and Washington, D.C. including rural investments in 39 states. We also target specific areas, including:

  • Underserved markets.
  • Populations with unmet needs, including Native American and farmworker communities.
  • Supportive housing developments.
  • Disaster-impacted areas.


Learn about LIHTC progress and impacts


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The federal government’s Low-Income Housing Tax Credit (LIHTC) program encourages private equity investment in creating and preserving affordable rental housing for low- and very low-income households. It channels this investment by awarding tax credits to affordable housing developers, who then exchange those tax credits with corporate investors in return for capital contributions for affordable multifamily rental housing.

The LIHTC program is a proven and effective way to create affordable housing supply for low- and very low-income families. It currently finances the construction and rehabilitation of almost all subsidized housing in the U.S. Approximately 90,000 apartment units are built each year using LIHTC, enabling thousands of Americans to find affordable rental housing.