Fannie Mae’s Low-Income Housing Tax Credit (LIHTC) equity investments have helped thousands of underserved individuals access high quality affordable rental housing.

We provide a reliable source of capital to support the creation and preservation of affordable rental housing and have invested in hundreds of properties since re-entering the market in 2018, working closely with syndicator partners, developers, and housing experts.

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Creating and preserving affordable housing throughout the U.S.

Our work in LIHTC supports rental housing when and where those needs are not being met. We have made investments in 49 states, Guam, Puerto Rico, the U.S. Virgin Islands, and Washington, D.C. including hundreds of rural investments. We also target:

  • Underserved markets.
  • Populations with unmet needs, including Native American and farmworker communities.
  • Housing that provides supportive services.
  • Disaster-impacted areas.


Learn about LIHTC progress and impacts


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The federal government’s Low-Income Housing Tax Credit (LIHTC) program is a proven and effective way to create and preserve the supply of affordable rental housing for low- and very low-income households. It encourages and channels private equity 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.

By channeling private capital investment, the LIHTC program supports the creation or preservation 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.