Capital events & subsidy flows by year
Event-dated aggregates from the benchmark-validated series (year-15 counts validated within ~3% of Novogradac; Section 8 stock within 1% of NLIHC). Properties that exited the LIHTC program are excluded from LIHTC waves. Pick a state from markets for a state cut.
LIHTC year-15 wave
In-program properties only; year 15 is the equity-exit decision point.
View as table
| Year | Low-Income Units | Count |
|---|---|---|
| 2001 | 4,435 | 180 |
| 2002 | 10,187 | 413 |
| 2003 | 10,221 | 319 |
| 2004 | 11,365 | 333 |
| 2005 | 16,842 | 507 |
| 2006 | 20,712 | 551 |
| 2007 | 29,509 | 678 |
| 2008 | 38,853 | 855 |
| 2009 | 63,695 | 1,108 |
| 2010 | 66,213 | 1,062 |
| 2011 | 65,495 | 1,116 |
| 2012 | 71,479 | 1,168 |
| 2013 | 90,925 | 1,355 |
| 2014 | 89,045 | 1,278 |
| 2015 | 89,875 | 1,352 |
| 2016 | 97,303 | 1,312 |
| 2017 | 112,056 | 1,483 |
| 2018 | 115,784 | 1,552 |
| 2019 | 118,038 | 1,593 |
| 2020 | 123,345 | 1,660 |
| 2021 | 131,114 | 1,720 |
| 2022 | 106,488 | 1,553 |
| 2023 | 85,840 | 1,231 |
| 2024 | 83,840 | 1,270 |
| 2025 | 122,775 | 1,734 |
| 2026 | 97,415 | 1,431 |
| 2027 | 83,415 | 1,357 |
| 2028 | 83,012 | 1,173 |
| 2029 | 84,549 | 1,214 |
| 2030 | 89,837 | 1,270 |
| 2031 | 86,983 | 1,095 |
| 2032 | 90,203 | 1,123 |
| 2033 | 94,947 | 1,112 |
| 2034 | 96,471 | 1,193 |
| 2035 | 91,991 | 1,078 |
| 2036 | 92,406 | 1,020 |
| 2037 | 78,820 | 929 |
| 2038 | 59,530 | 787 |
| 2039 | 5,654 | 65 |
| 2041 | 81 | 1 |
Extended-use endings
Dates use the 30-year federal floor (or filed longer periods) — near-term totals overstate reality until state-reported periods are layered in; the wave shape is directionally sound.
View as table
| Year | Low-Income Units | Count |
|---|---|---|
| 2016 | 4,435 | 180 |
| 2017 | 10,187 | 413 |
| 2018 | 10,221 | 319 |
| 2019 | 11,365 | 333 |
| 2020 | 16,842 | 507 |
| 2021 | 20,712 | 551 |
| 2022 | 29,509 | 678 |
| 2023 | 38,575 | 848 |
| 2024 | 63,279 | 1,098 |
| 2025 | 65,507 | 1,044 |
| 2026 | 64,689 | 1,101 |
| 2027 | 70,371 | 1,142 |
| 2028 | 89,574 | 1,329 |
| 2029 | 87,510 | 1,245 |
| 2030 | 88,519 | 1,325 |
| 2031 | 95,847 | 1,283 |
| 2032 | 110,351 | 1,450 |
| 2033 | 114,411 | 1,521 |
| 2034 | 116,784 | 1,573 |
| 2035 | 121,280 | 1,635 |
| 2036 | 129,272 | 1,694 |
| 2037 | 104,292 | 1,532 |
| 2038 | 84,743 | 1,212 |
| 2039 | 84,607 | 1,277 |
| 2040 | 123,121 | 1,732 |
| 2041 | 96,475 | 1,424 |
| 2042 | 83,740 | 1,367 |
| 2043 | 81,914 | 1,182 |
| 2044 | 84,239 | 1,216 |
| 2045 | 89,704 | 1,275 |
HAP contract expirations
Active project-based Section 8 family contracts, by full-term expiration year.
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| Year | Assisted Units | Count |
|---|---|---|
| 2026 | 46,760 | 2,239 |
| 2027 | 48,135 | 1,729 |
| 2028 | 73,686 | 1,616 |
| 2029 | 92,055 | 1,861 |
| 2030 | 74,466 | 1,370 |
| 2031 | 67,430 | 1,073 |
| 2032 | 61,922 | 1,048 |
| 2033 | 71,291 | 1,022 |
| 2034 | 84,730 | 1,179 |
| 2035 | 78,416 | 1,094 |
| 2036 | 71,997 | 951 |
| 2037 | 75,676 | 906 |
| 2038 | 75,219 | 945 |
| 2039 | 69,073 | 920 |
| 2040 | 70,262 | 931 |
| 2041 | 67,619 | 865 |
| 2042 | 62,489 | 705 |
| 2043 | 82,262 | 966 |
| 2044 | 89,038 | 1,071 |
| 2045 | 87,285 | 969 |
Published debt maturities
FHA-insured and USDA loans only — conventional, bond, and agency debt is not on public record.
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| Year | Remaining Principal | Count |
|---|---|---|
| 2023 | — | 1 |
| 2024 | — | 7 |
| 2025 | — | 27 |
| 2026 | $30.6M | 53 |
| 2027 | $18.1M | 102 |
| 2028 | $83.8M | 324 |
| 2029 | $101.7M | 419 |
| 2030 | $34.8M | 487 |
| 2031 | $111.8M | 545 |
| 2032 | $50.1M | 513 |
| 2033 | $66.7M | 637 |
| 2034 | $82.1M | 686 |
| 2035 | $110.7M | 733 |
| 2036 | $135.5M | 763 |
| 2037 | $205.6M | 603 |
| 2038 | $218M | 675 |
| 2039 | $268.3M | 712 |
| 2040 | $387.8M | 920 |
| 2041 | $762.8M | 948 |
| 2042 | $603.6M | 966 |
| 2043 | $539.1M | 856 |
| 2044 | $533.4M | 801 |
| 2045 | $833.6M | 683 |
HOME/CDBG dollars landed
By IDIS completion year; HOME 5+ unit activities and CDBG activities matched to tracked properties — a floor, not a census.
View as table
| Year | Activity Dollars | Count |
|---|---|---|
| 2000 | $254.4M | 741 |
| 2001 | $427M | 1,007 |
| 2002 | $322.3M | 795 |
| 2003 | $415.4M | 861 |
| 2004 | $445.3M | 869 |
| 2005 | $619.8M | 1,184 |
| 2006 | $922.3M | 1,332 |
| 2007 | $678.3M | 1,030 |
| 2008 | $797.6M | 1,087 |
| 2009 | $744.5M | 888 |
| 2010 | $801.5M | 906 |
| 2011 | $1.4B | 1,291 |
| 2012 | $1.9B | 1,384 |
| 2013 | $1.2B | 1,028 |
| 2014 | $878.1M | 849 |
| 2015 | $757.2M | 752 |
| 2016 | $805M | 768 |
| 2017 | $790M | 761 |
| 2018 | $560.4M | 592 |
| 2019 | $548.3M | 708 |
| 2020 | $447M | 395 |
| 2021 | $405.5M | 500 |
| 2022 | $558M | 533 |
| 2023 | $536.8M | 502 |
| 2024 | $738.8M | 634 |
| 2025 | $777.5M | 624 |
| 2026 | $342M | 222 |
Tax-exempt bond awards tracked
Confirmed multifamily volume-cap allocations from state bond logs and board records, by award date. A tracked floor, not a census — coverage varies by state and reaches only as far back as each source publishes.
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| Year | Award Dollars | Count |
|---|---|---|
| 2021 | $8.7M | 2 |
| 2022 | $4B | 148 |
| 2023 | $3.4B | 99 |
| 2024 | $8.9B | 275 |
| 2025 | $5.4B | 217 |
| 2026 | $3.5B | 165 |
Methodology and reconciliation against published figures: see the glossary. Filter, sort, and drill into properties in the application.