The agency & primary document
- Allocating agency
- Mississippi Home Corporation (MHC)
- QAP / guidelines
- https://www.mshomecorp.com/developers/housing-tax-credit-program/qap/
- Governing document
- 2026 QAP §4.4 + Addendum F/G — Market Study Guide & Checklist
- Methodology
- NCHMA Model Content Standards
Required market study sections
Mississippi 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 Mississippi rules
- Staleness window
- Market study must be current — no more than one year old from the application date
Mississippi-specific overlays
- One development per PMA / 2-year rule; 5-point deduction for new construction in a PMA already served
- MHC's own contracted analysts re-analyze each study to set the allowed unit count
- Required components include a HTC Forecast identifying unmet demand for specialized housing (elderly, disabled, veterans)
- 5-year pipeline disclosure of HTC developments approved in the prior 5 years + those under construction, with rents and lease-up
- Study must cite GPS coordinates / parcel numbers matching site control
- MHC reconciliation uses a penetration rate (development units ÷ qualified households), not a capture rate
Required companion documents
- Addendum F & G — Market Study Guide & Checklist
- Applicant Rating Form (2026)
- Application Checklist 2026
- Financial Feasibility Forms & Certification
- Attachment 8 syndicator statement
Things analysts miss in Mississippi
- The QAP body still shows a '2024 QAP' page footer even though it is the 2026 FINAL (Addendum L) — footer year ≠ effective year
- Authoritative docs are on archivemhc.com. MHC (Mississippi) is often conflated with MHDC (Missouri) by search engines
Build the Market Data section of your Mississippi 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 Mississippi Home Corporation (MHC) submissions. Start free — no credit card.
Request access for your Mississippi study →Frequently asked questions
Who reviews LIHTC market studies in Mississippi?
Mississippi Home Corporation (MHC) sets the market study requirements and reviews submissions for Mississippi Low-Income Housing Tax Credit applications.
How current must a Mississippi LIHTC market study be?
Market study must be current — no more than one year old from the application date
Does Mississippi follow NCHMA standards?
Mississippi market studies follow the NCHMA Model Content Standards section structure — Own-methodology with NCHMA acknowledged. MHC's own Market Study Guide & Checklist (Addendum F/G) governs; NCHMA's Model Content Standards / Terminology / Index are referenced as encouraged supplements..
Other states
This summary is for general reference and reflects Mississippi Home Corporation (MHC)'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.