The agency & primary document
- Allocating agency
- Maine State Housing Authority (MaineHousing)
- QAP / guidelines
- https://www.mainehousing.org/programs-services/rental/rental-developers
- Governing document
- Chapter 16 LIHTC Rule (2025-2026 QAP), §5.E; market-study standards = NCHMA Model Content Standards v3.0 published verbatim as the Chapter 16 standards file
- Methodology
- NCHMA Model Content Standards
Required market study sections
Maine market studies follow the NCHMA Model Content Standards. The required sections are:
- Executive Summary — Concise summary of each section including data, analysis, and conclusions. 11 minimum content items including feasibility opinion, strengths/weaknesses, absorption estimate.
- Introduction and Scope of Work — Purpose, intended use, intended users, scope of work, effective date, physical inspection date.
- Project Description — Unit mix, utilities, target market, unit and community amenities, construction date. If rehab: scope of work, existing rents and vacancies.
- Location — Site description, site photos/maps, community services map, neighborhood evaluation (visibility, accessibility, crime).
- Market Area Definition — PMA description and rationale, PMA map. Extended/secondary market area if applicable.
- Employment and Economy — Employment trends, employment by sector, unemployment rates, major employers and proximity, planned expansions/reductions.
- Demographic Characteristics — Population and household estimates/projections, building permits, household characteristics (income, tenure, size). Senior/special needs: target-market data.
- Competitive Environment — Comparable profiles and photos, map of comps, vacancy and rents analysis, subject comparison, affordable housing alternatives, pipeline projects.
- Affordability Analysis, Demand Analysis, Capture Rates, and Penetration Rates — Demand estimate, affordability analysis, capture rate, penetration rate.
- Local Perspective of Rental Housing Market and Housing Alternatives — NEW in MCS 3.1 (September 2025). Local market context and housing alternatives beyond standard comparable analysis.
- Analysis / Conclusions — Absorption rate and lease-up timeline, market feasibility statement, strengths and weaknesses, key conclusions reconciling any conflicting indicators, recommendations if any.
- Other Requirements — Analyst qualifications, data sources, physical inspection date, limiting conditions, signed certification.
Key Maine rules
- Staleness window
- Not specified in the QAP — verify
Maine-specific overlays
- Underwriting: 3+ BR LIHTC units in family projects are underwritten at the 2BR max tax-credit rent + $50, unless an independent market study shows comparable market rents are lower
Required companion documents
- NCHMA Model Content Standards v3.0 (hosted by MaineHousing as the Chapter 16 standards)
- Rental Loan Program Financing for 2026 State Ceiling LIHTC Projects (underwriting — independent market study for comparable-rent support, esp. 3BR family units)
Things analysts miss in Maine
- Market-study standards are a separate file (named 'ch-16-ncahma-market-study-standards…' — note the legacy 'NCAHMA' acronym), not inside the QAP
Build the Market Data section of your Maine study
StudyScribe auto-fills the Market Data section — employment, unemployment, building permits, crime and amenities — from BLS, Census, HUD, FBI and Google sources, cites every figure, and exports a Word document formatted for Maine State Housing Authority (MaineHousing) submissions. Start free — no credit card.
Request access for your Maine study →Frequently asked questions
Who reviews LIHTC market studies in Maine?
Maine State Housing Authority (MaineHousing) sets the market study requirements and reviews submissions for Maine Low-Income Housing Tax Credit applications.
How current must a Maine LIHTC market study be?
Not specified in the QAP — verify
Does Maine follow NCHMA standards?
Maine market studies follow the NCHMA Model Content Standards section structure — NCHMA-deferring. QAP §5.E requires a study 'in accordance with the NCHMA Model Standards'; MaineHousing publishes NCHMA MCS v3.0 verbatim and sets no competing numeric thresholds..
Other states
This summary is for general reference and reflects Maine State Housing Authority (MaineHousing)'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.