1000s of affordable housing subsidies will end in the next 5 years. A new database will help Pa. get in front of the issue.

Stoneleigh Fellow Vincent Reina weighs in on the impact of the rising number of expiring affordability requirements in Pennsylvania.

In an effort to better monitor the supply of affordable housing, Pennsylvania will create a searchable database of properties that are required to offer discounted rents and track when those requirements expire. […]

Expiring affordability requirements are a relatively new problem, said Vincent Reina, director of a housing research center at the University of Pennsylvania.

The federal government’s primary tool for financing affordable housing, the Low-Income Housing Tax Credit, was created in 1986. But the program didn’t really ramp up until the late 1990s, Reina said. Many properties have 30-year affordability restrictions, which are now starting to expire.

“The scale of properties approaching this point is now getting to the highest levels we’ve seen.”

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