The agency & primary document
- Allocating agency
- California Tax Credit Allocation Committee (CTCAC)
- QAP / guidelines
- https://www.treasurer.ca.gov/ctcac/current-year/application
- Governing document
- Market Study Guidelines, December 2024 edition (the 2025-10 file path is a re-post, not a new edition)
- Methodology
- Agency-specific standalone methodology
Required market study sections
California uses its own standalone market study methodology rather than the NCHMA Model Content Standards. Agency-specific methodology — CTCAC publishes its own standalone guidelines. Do not apply NCHMA standards.
Key California rules
- Staleness window
- All market studies must be prepared or updated within 180 days (~6 months) of submission, with a defined update mechanism (executive summary, demographic/income trends, comparables, absorption, demand estimate)
- Absorption / occupancy
- Stabilized occupancy/absorption: SRO & Special Needs 90% within 6 months (90% within 1 yr if >150 units); Large Family 95% within 6 months (95% within 1 yr if >150 units); all Senior 95% within 1 year; absorption analysis estimates time to 95%
California-specific overlays
- CTCAC's own Index is required — not NCHMA's Market Study Index
- Stabilized vacancy assumptions: ≤5% (≤10% for SRO/special needs)
- Demand estimate must be reconstructable step-by-step by CTCAC staff; matrices re-run if proposed rents change
Required companion documents
- California Market Study Index (CTCAC's own — placed in addenda; do NOT substitute NCHMA's Index)
Things analysts miss in California
- CTCAC re-uploads documents to new URL paths without changing content — always start at the landing page, never use a cached PDF URL
- Path year in URL (e.g. 2025-11) reflects re-upload date, not edition date — verify against internal document date stamp
Produce a compliant California market study in minutes
StudyScribe auto-fills BLS, Census, HUD & FBI data, applies California Tax Credit Allocation Committee (CTCAC)'s requirements, and exports a publication-ready DOCX. Start free — no credit card.
Start a free California report →Frequently asked questions
Who reviews LIHTC market studies in California?
California Tax Credit Allocation Committee (CTCAC) sets the market study requirements and reviews submissions for California Low-Income Housing Tax Credit applications.
How current must a California LIHTC market study be?
All market studies must be prepared or updated within 180 days (~6 months) of submission, with a defined update mechanism (executive summary, demographic/income trends, comparables, absorption, demand estimate)
Does California follow NCHMA standards?
Agency-specific methodology — CTCAC publishes its own standalone guidelines. Do not apply NCHMA standards.
What absorption/occupancy does California expect?
Stabilized occupancy/absorption: SRO & Special Needs 90% within 6 months (90% within 1 yr if >150 units); Large Family 95% within 6 months (95% within 1 yr if >150 units); all Senior 95% within 1 year; absorption analysis estimates time to 95%
Other states
This summary is for general reference and reflects California Tax Credit Allocation Committee (CTCAC)'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.