The federal Low-Income Housing Tax Credit (LIHTC) program is the largest single source of funding for affordable housing development and a crucial resource for expanding affordable rental housing throughout the state. In addition, Vermont has a state-funded housing tax credit for rental and for-sale affordable homes. Both of these types of housing tax credits are administered by Vermont Housing Finance Agency (VHFA).
Eligibility and prioritization criteria for these tax credits are outlined in a Qualified Allocation Plan (QAP) which is updated and approved regularly by the State of Vermont. The QAP update review process is set to begin. Dates for the drafted QAP release, public comment period, public hearing are below. Once this process is completed, the VHFA Board will vote to adopt the plan and send it to the Governor for final approval.
Vermont has been challenged by the need for safe, decent and affordable housing statewide. High rents and decreased availability have led to a significant need for more affordable housing. Currently, there are 7,663 apartments funded by low-income housing tax credits statewide according to data from housingdata.org. More than 37% of those apartments are located in Chittenden County where there is the largest population of low-income renter households, followed by Windsor County and Windham County which each have 10% of the state's tax credit funded apartments.
| QAP DATES: | |
| March 24 | Drafted QAP released and period of public comment begins |
| April 6 | Public Hearing (hybrid) |
| April 24 | Deadline for Public comment submissions. |
| May 18 | Joint Committee on Tax Credits (JCTC) meets to consider QAP |
| June 23 | VHFA Board considers QAP (if recommended by JCTC) |
Members of the public and other interested parties are encouraged to submit their feedback and can find QAP materials and more information about the QAP process on VHFA’s QAP website.
Image of Kelley's Field Apartments located in Hinesburg, VT. June 2025.