State · LIHTC 2026
LIHTC in Puerto Rico: 2026 allocations, QAP and data
Puerto Rico Housing Finance Authority (PRHFA / Autoridad para el Financiamiento de la Vivienda, AFV) allocates Puerto Rico's housing tax credits. The population-based part of Puerto Rico's 2026 9% credit ceiling, before carryforwards and returned credits, is $10,879,396. That is $3.416 times 3,184,835 residents. Its 2026 private activity bond cap, which 4% deals compete for, is $429,952,725 ($135 per person).
Agency and qualified allocation plan
| Allocating agency | Puerto Rico Housing Finance Authority (PRHFA / Autoridad para el Financiamiento de la Vivienda, AFV) |
|---|---|
| Tax credit program page | PRHFA / Autoridad para el Financiamiento de la Vivienda, AFV LIHTC page |
| Current QAP | Low-Income Housing Tax Credit Program 2025 Qualified Allocation Plan (Rev. Oct. 2025) (2025) |
| QAP status | Filed with PR Dept of State as Regulation 9712 on Oct 24, 2025; used for the NOFA 2025 round, which closed in 2026 (afv.pr.gov link). No 2026 or 2027 QAP found online. |
Agency and QAP links checked 2026-10-30.
2026 credit ceiling and bond cap
| Item | 2026 | Per resident |
|---|---|---|
| Population (IRS Notice 2026-22) | 3,184,835 | 33rd of 52 |
| 9% ceiling, population amount | $10,879,396 | $3.42 |
| Formula | greater of $3.416 × pop or $3,953,600 | per-capita applies |
| Private activity bond cap | $429,952,725 | $135.00 |
| Formula | greater of $135 × pop or $397,625,000 | per-capita 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 224 Puerto Rico census tracts in qualified census tracts, spread across 65 counties. 4 nonmetropolitan counties are difficult development areas. In metro areas, 19 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 |
|---|---|
| San Juan Municipio | 36 |
| Ponce Municipio | 18 |
| Mayagüez Municipio | 12 |
| Arecibo Municipio | 7 |
| Aguadilla Municipio | 6 |
Nonmetro DDA counties: Adjuntas Municipio, PR Exception Area, Las Marías Municipio, PR Exception Area, Puerto Rico HUD Nonmetro Area, Utuado Municipio, PR Exception Area.
Metro areas with Small Area DDAs: Aguadilla, PR MSA; Arecibo, PR MSA; Barranquitas-Aibonito, PR HUD Metro FMR Area; Guayama, PR MSA; Ponce, PR HUD Metro FMR Area; San Juan-Guaynabo, PR HUD Metro FMR Area.
Every Puerto Rico qualified census tract, with its population, poverty rate and median income, is on the Puerto Rico 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 Puerto Rico
HUD's database lists 82 Puerto Rico properties financed with housing tax credits that the allocating agency still monitors, with 8,504 income-restricted units. The largest city totals are below; see all cities on the Puerto Rico apartments page.
| City | Properties | Restricted units |
|---|---|---|
| San Juan | 41 | 4,620 |
| Ponce | 11 | 1,409 |
| Caguas | 10 | 1,251 |
| Mayaguez | 7 | 996 |
| Carolina | 8 | 839 |
| Trujillo Alto | 5 | 768 |
| Bayamon | 5 | 720 |
| Rio Grande | 5 | 660 |
| Arecibo | 5 | 596 |
| Humacao | 5 | 460 |
| County | Properties | Restricted units |
|---|---|---|
| San Juan Municipio | 31 | 3,596 |
| Caguas Municipio | 7 | 845 |
| Trujillo Alto Municipio | 2 | 418 |
| Toa Alta Municipio | 2 | 376 |
| Ponce Municipio | 3 | 346 |
| Carolina Municipio | 3 | 273 |
| Humacao Municipio | 2 | 205 |
| San Lorenzo Municipio | 2 | 185 |
| Florida Municipio | 2 | 172 |
| Las Piedras Municipio | 2 | 152 |
For buyers and lenders: the Puerto Rico 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 Puerto Rico
A 9% deal in Puerto Rico competes for PRHFA / Autoridad para el Financiamiento de la Vivienda, AFV's 2026 ceiling of $10,879,396 (population amount) under the Low-Income Housing Tax Credit Program 2025 Qualified Allocation Plan (Rev. Oct. 2025). A 4% deal needs an award from the state's $429,952,725 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 Puerto Rico's 224 qualified census tracts for 2027 can take the 130% basis boost.
On HUD's records for the 125 Puerto Rico properties on this site's city pages, 13% of those reporting the field were financed with tax-exempt bonds and 91% 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 Puerto Rico deal: get a financing quote.
State housing tax credit
Not confirmed. No Puerto Rico low-income housing tax credit found on PRHFA's site; not confirmed either way.
More Puerto Rico data
- Puerto Rico 2026 income and rent limitsby county
- Puerto Rico tax credit apartmentsby city
- Puerto Rico QCTs and DDAs2027 lists by county
- Year 15 and Year 30 propertiesby county
- QCT and DDA lookupby address
- Monthly credit ratesIRS
- LIHTC in Pennsylvaniaprevious
- LIHTC in Rhode Islandnext
- All statescompare
Questions people ask
How much 9% LIHTC does Puerto Rico get in 2026?
The population part of Puerto Rico's 2026 housing credit ceiling is $10,879,396: the greater of $3.416 per resident or $3,953,600, applied to the 3,184,835 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 Puerto Rico?
Puerto Rico Housing Finance Authority (PRHFA / Autoridad para el Financiamiento de la Vivienda, AFV). It awards 9% credits under its qualified allocation plan (Low-Income Housing Tax Credit Program 2025 Qualified Allocation Plan (Rev. Oct. 2025), 2025) and sets the rules 4% bond deals must meet to receive credits.
Does Puerto Rico have a state low-income housing tax credit?
We could not confirm one from the agency or the statutes as of October 2026. No Puerto Rico low-income housing tax credit found on PRHFA's site; not confirmed either way.
Financing a Puerto Rico tax credit deal?
Construction, bond, bridge-to-equity and permanent debt for Puerto Rico 4% and 9% deals.