The agency & primary document
- Allocating agency
- Arkansas Development Finance Authority (ADFA)
- QAP / guidelines
- https://adfa.arkansas.gov/programs/housing-development/low-income-housing-tax-credit/
- Governing document
- 2026 QAP (embedded Multifamily Housing Application Guidelines, capture gate §I.C.6) + standalone Market Study Guidelines (eff. July 20, 2017)
- Methodology
- Agency-specific standalone methodology
Required market study sections
Arkansas uses its own standalone market study methodology rather than the NCHMA Model Content Standards. Agency-specific methodology — ADFA publishes its own standalone guidelines (stable since 2017) with its own capture-rate scoring chart.
Key Arkansas rules
- Staleness window
- Market study dated within 6 months prior to the Application Deadline
- Capture-rate threshold
- Per-unit capture rate > 20% = application rejected (2026 QAP §I.C.6 gate) — must clear BEFORE the 2017 Guidelines §VIII weighted-average scoring chart applies
- Persons per bedroom
- Two (2) persons per bedroom (income-qualification sizing; per AR Code Ann. §16-123-307(c)(3))
- Absorption / occupancy
- Absorption period = time to reach 95% occupancy from first-unit release (2017 Guidelines §IX)
Arkansas-specific overlays
- ADFA maintains an approved analyst list — studies from non-approved firms not accepted
- QAP §I.C.6 rejection criteria apply as a gateway before scoring
Required companion documents
- Certification letter signed by analyst (6-item content per Guidelines)
Things analysts miss in Arkansas
- Per-unit-group capture rate ≤ 20% must be cleared FIRST as a QAP gate — weighted average alone is insufficient
- Always verify the current Approved Firms list date before starting
Produce a compliant Arkansas market study in minutes
StudyScribe auto-fills BLS, Census, HUD & FBI data, applies Arkansas Development Finance Authority (ADFA)'s requirements, and exports a publication-ready DOCX. Start free — no credit card.
Start a free Arkansas report →Frequently asked questions
Who reviews LIHTC market studies in Arkansas?
Arkansas Development Finance Authority (ADFA) sets the market study requirements and reviews submissions for Arkansas Low-Income Housing Tax Credit applications.
How current must a Arkansas LIHTC market study be?
Market study dated within 6 months prior to the Application Deadline
Does Arkansas follow NCHMA standards?
Agency-specific methodology — ADFA publishes its own standalone guidelines (stable since 2017) with its own capture-rate scoring chart.
Is there a capture-rate threshold in Arkansas?
Per-unit capture rate > 20% = application rejected (2026 QAP §I.C.6 gate) — must clear BEFORE the 2017 Guidelines §VIII weighted-average scoring chart applies
What absorption/occupancy does Arkansas expect?
Absorption period = time to reach 95% occupancy from first-unit release (2017 Guidelines §IX)
Other states
This summary is for general reference and reflects Arkansas Development Finance Authority (ADFA)'s published guidance as understood by StudyScribe; it is not legal or compliance advice. Always confirm requirements against the current QAP / market study guidelines before submission.