State · LIHTC 2026
LIHTC in New Mexico: 2026 allocations, QAP and data
Housing New Mexico | MFA (New Mexico Mortgage Finance Authority) allocates New Mexico's housing tax credits. The population-based part of New Mexico's 2026 9% credit ceiling, before carryforwards and returned credits, is $7,260,701. That is $3.416 times 2,125,498 residents. Its 2026 private activity bond cap is the $397,625,000 minimum, and every 4% deal in the state needs a share of it.
Agency and qualified allocation plan
| Allocating agency | Housing New Mexico | MFA (New Mexico Mortgage Finance Authority) |
|---|---|
| Tax credit program page | New Mexico Mortgage Finance Authority LIHTC page |
| Current QAP | 2026 9% Qualified Allocation Plan (2026) |
| QAP status | Final approved 2026 9% QAP posted as a zip (11/24/2025) on the rounds page; separate 4% QAP. Draft 2027 9% and 4% QAPs went to the Governor (proposed effective Dec 1, 2026): housingnm.org link |
Agency and QAP links checked 2026-10-30.
2026 credit ceiling and bond cap
| Item | 2026 | Per resident |
|---|---|---|
| Population (IRS Notice 2026-22) | 2,125,498 | 37th of 52 |
| 9% ceiling, population amount | $7,260,701 | $3.42 |
| Formula | greater of $3.416 × pop or $3,953,600 | per-capita applies |
| Private activity bond cap | $397,625,000 | $187.07 |
| Formula | greater of $135 × pop or $397,625,000 | minimum applies |
Sources: IRS Rev. Proc. 2025-32 secs. 4.08 and 4.19 (the 9% amounts already include the 12% increase from Pub. L. 119-21 sec. 70422); IRS Notice 2026-22 (2026-15 I.R.B.). Computed by us and rounded to the dollar; agencies may round differently.
Only the population amount is shown. The full 2026 ceiling adds credits unused from 2025, credits returned by projects and any share of the national pool, which the agency reports in its allocation materials. See every state side by side on the 2026 ceilings and bond caps table.
Basis boost areas: 2027 QCTs and DDAs
HUD's 2027 lists, which apply from January 1, 2027, put 124 New Mexico census tracts in qualified census tracts, spread across 19 counties. 14 nonmetropolitan counties are difficult development areas. In metro areas, 10 ZIP code areas (ZCTAs) are Small Area DDAs. A building in either can take 130% of eligible basis. Check an address with the QCT and DDA lookup.
| County | 2027 QCT tracts |
|---|---|
| Bernalillo County | 37 |
| McKinley County | 18 |
| Dona Ana County | 12 |
| Valencia County | 9 |
| San Juan County | 8 |
Nonmetro DDA counties: Catron County, Chaves County, Cibola County, Curry County, Grant County, Lea County, Lincoln County, McKinley County, Otero County, Quay County, Roosevelt County, San Miguel County, Sierra County, Taos County.
Metro areas with Small Area DDAs: Albuquerque, NM MSA; Farmington, NM MSA; Las Cruces, NM MSA; Santa Fe, NM MSA.
Every New Mexico qualified census tract, with its population, poverty rate and median income, is on the New Mexico QCT list by county.
Source: HUD 2027 QCT and DDA designations, FR Doc. 2026-20390 (91 FR 63573, Oct. 6, 2026).
Tax credit properties in New Mexico
HUD's database lists 276 New Mexico properties financed with housing tax credits that the allocating agency still monitors, with 16,604 income-restricted units. The largest city totals are below; see all cities on the New Mexico apartments page.
| City | Properties | Restricted units |
|---|---|---|
| Albuquerque | 89 | 6,883 |
| Santa Fe | 34 | 3,270 |
| Las Cruces | 14 | 788 |
| Gallup | 14 | 587 |
| Roswell | 7 | 450 |
| Clovis | 8 | 350 |
| Farmington | 7 | 331 |
| Deming | 9 | 312 |
| Las Vegas | 7 | 290 |
| Anthony | 7 | 284 |
| County | Properties | Restricted units |
|---|---|---|
| Bernalillo County | 83 | 6,400 |
| Santa Fe County | 36 | 3,180 |
| Dona Ana County | 31 | 1,505 |
| San Juan County | 12 | 686 |
| Sandoval County | 6 | 680 |
| McKinley County | 13 | 537 |
| Chaves County | 7 | 450 |
| Valencia County | 13 | 420 |
| Lea County | 9 | 339 |
| Luna County | 9 | 312 |
For buyers and lenders: the New Mexico Year 15 and Year 30 list shows which of these properties reach the end of the compliance period or the 30-year extended use minimum from 2022 to 2034, by county.
Source: HUD's national LIHTC database (LIHTCPUB, revised May 28, 2026; projects placed in service through 2024). City pages cover cities with at least five properties; county links go to that county's 2026 income and rent limits.
Financing a LIHTC deal in New Mexico
A 9% deal in New Mexico competes for New Mexico Mortgage Finance Authority's 2026 ceiling of $7,260,701 (population amount) under the 2026 9% Qualified Allocation Plan. A 4% deal needs an award from the state's $397,625,000 private activity bond cap: tax-exempt bonds must finance 50% of the aggregate basis of the building and land, or at least 25% if one or more of those bonds, from an issue dated after December 31, 2025, together finance at least 5% of that basis (the 25% bond test, for buildings placed in service in taxable years beginning after December 31, 2025). Sites in New Mexico's 124 qualified census tracts for 2027 can take the 130% basis boost.
On HUD's records for the 246 New Mexico properties on this site's city pages, 25% of those reporting the field were financed with tax-exempt bonds and 45% took 9% (70% present value) credits; 6 received allocations in 2015 or later.
Sources: IRS Rev. Proc. 2025-32; HUD 2027 QCT list; HUD's national LIHTC database (LIHTCPUB, revised May 28, 2026; projects placed in service through 2024), bond and credit-type fields. What to read in a QAP: state LIHTC programs. Sizing a New Mexico deal: get a financing quote.
State housing tax credit
No state LIHTC found. No state LIHTC; it has a different housing credit. NM Affordable Housing Tax Credit (NMSA 7-9I): donation-based credit worth up to 50% of a donation to an approved project or the MFA Charitable Trust. Not a Section 42 style credit. (primary source)
More New Mexico data
- New Mexico 2026 income and rent limitsby county
- New Mexico tax credit apartmentsby city
- New Mexico QCTs and DDAs2027 lists by county
- Year 15 and Year 30 propertiesby county
- QCT and DDA lookupby address
- Monthly credit ratesIRS
- LIHTC in New Jerseyprevious
- LIHTC in New Yorknext
- All statescompare
Questions people ask
How much 9% LIHTC does New Mexico get in 2026?
The population part of New Mexico's 2026 housing credit ceiling is $7,260,701: the greater of $3.416 per resident or $3,953,600, applied to the 2,125,498 population in IRS Notice 2026-22. The agency's actual 2026 authority also adds unused and returned credits and any national pool share, so its own published figure can be higher.
Who allocates housing tax credits in New Mexico?
Housing New Mexico | MFA (New Mexico Mortgage Finance Authority). It awards 9% credits under its qualified allocation plan (2026 9% Qualified Allocation Plan, 2026) and sets the rules 4% bond deals must meet to receive credits.
Does New Mexico have a state low-income housing tax credit?
Not a state LIHTC as of October 2026. No state LIHTC; it has a different housing credit. NM Affordable Housing Tax Credit (NMSA 7-9I): donation-based credit worth up to 50% of a donation to an approved project or the MFA Charitable Trust. Not a Section 42 style credit.
Financing a New Mexico tax credit deal?
Construction, bond, bridge-to-equity and permanent debt for New Mexico 4% and 9% deals.