Episode 75: IRS Publishes 2026 LIHTC and PAB Population Figures The IRS releases 2026 population figures establishing record LIHTC allocations and private activity bond volume caps. Understand how the $3.05 per-capita multiplier impacts your state's affordable housing pipeline. KEY TAKEAWAYS: • 2026 population figures reflect slight growth from 2025, resulting in record per-capita LIHTC multiplier of $3.05 • This is the highest multiplier in LIHTC history, reflecting population growth and permanent 12% allocation increase under OBBBA • California's 2026 allocation increased by approximately $50 million compared to 2025 • Texas gained roughly $45 million; New York added approximately $35 million • 25% bond threshold reduction means states can finance more LIHTC projects with same volume cap allocation Understanding these figures is essential for developers. The IRS population data determines your state's available LIHTC allocation. Developers should work with their state HFA to understand how much allocation is available, when applications are due, and what the competitive landscape looks like. The record multiplier signals strong market conditions. Syndicators report robust investor appetite for LIHTC equity. Banks are actively competing for LIHTC financing opportunities. Subscribe to The Spring Street Brief for daily insights on LIHTC, Section 8, HUD policy, and affordable housing finance.