The agency & primary document
- Allocating agency
- Oregon Housing and Community Services (OHCS)
- QAP / guidelines
- https://www.oregon.gov/ohcs/rental-housing/housing-development/development-resources/pages/qualified-allocation-plan.aspx
- Governing document
- 2025 State of Oregon QAP (current) + OHCS LIHTC Market Analysis Guidelines (web page at oregon.gov/ohcs → Development Resources → Market Analysis Guidelines; marked 'Last updated: 2022'). 2027 QAP draft (redline) is out for public comment.
- Methodology
- Agency-specific standalone methodology
Required market study sections
Oregon uses its own standalone market study methodology rather than the NCHMA Model Content Standards. Agency-specific methodology — OHCS publishes its own LIHTC Market Analysis Guidelines: a 20-item minimum report outline for an approved third-party analyst, with an acquisition/rehab exception list.
Oregon Housing and Community Services (OHCS) market study checklist → — every required item, with a link to the agency's guideline.
Key Oregon rules
- Staleness window
- 6 months — the analysis can be no more than six months old at the time of application or re-application (OHCS Market Analysis Guidelines)
- Capture-rate threshold
- 25% maximum benchmark for project development (below 25% tends to indicate a stronger market, above 25% a weaker one). OHCS notes the benchmark can change by population: many special-needs populations support a higher rate, while a 50–60% MFI family project in a competitive market may need a lower one. Not required for qualifying acquisition/rehab projects.
Oregon-specific overlays
- Approved OHCS Market Analyst required for selected projects (IRC §42(m)(1)(A)(iii)); the analyst must inspect the subject property
- USPAP and Oregon ORS 674 compliance required — rental analysis sections (market AND affordable) must be completed by a State Certified General Appraiser
- Restrictive 'new demand' definition — residents at existing similar properties at similar rent levels do NOT constitute new demand; normal turnover does NOT constitute new demand
- Six-indicator demand reconciliation: occupancy/vacancy, wait lists, rent concessions, absorption, anecdotal data and demographic analysis — reconciled by unit type and income band in a table
- Absorption comparables: past 12 months, Oregon preferred
- Income banding in 10% intervals above 30% MFI (suggested: 0–30%, >30–40%, >40–50%, >50–60%)
- Project net rents at least 10% below market rents, or explain why this is not applicable
- Acq/rehab exception structure available (six conditions) — reduced regional analysis, no absorption/demographic analysis, no capture rate
- RAD contact required during supply analysis
- Executive Summary 2-4 pages preferred
Required companion documents
- Letter of Transmittal with client name, purpose and use of the report, intended users (state OHCS as an intended user), effective date, original signatures, and the analyst's Oregon state certification number and expiration date if applicable
- Certification at least similar to the OHCS certification template (six statements)
- Two originals of the complete market analysis with original signatures for competitive LIHTC applications
- Addendum: title report and legal description (if available), market and affordable rent comparables, analyst qualifications
Things analysts miss in Oregon
- USPAP/Oregon-certified-appraiser requirement for rental analysis is a distinctive state-specific layer — general analysts cannot complete rental analysis sections
- The Market Analysis Guidelines are a web page, not a PDF; the QAP page links to it as 'LIHTC Market Analysis Guidelines'
- Do NOT confuse the 25% capture-rate benchmark with OHCS's separate '25% Test' for 4%/private-activity-bond financing
- 2027 QAP is a draft until OHCS publishes the final in December 2026 — keep citing the 2025 QAP for current applications
Build the Market Data section of your Oregon 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 Oregon Housing and Community Services (OHCS) submissions. Start free — no credit card.
Request access for your Oregon study →Frequently asked questions
Who reviews LIHTC market studies in Oregon?
Oregon Housing and Community Services (OHCS) sets the market study requirements and reviews submissions for Oregon Low-Income Housing Tax Credit applications.
How current must a Oregon LIHTC market study be?
6 months — the analysis can be no more than six months old at the time of application or re-application (OHCS Market Analysis Guidelines)
Does Oregon follow NCHMA standards?
Agency-specific methodology — OHCS publishes its own LIHTC Market Analysis Guidelines: a 20-item minimum report outline for an approved third-party analyst, with an acquisition/rehab exception list.
Is there a capture-rate threshold in Oregon?
25% maximum benchmark for project development (below 25% tends to indicate a stronger market, above 25% a weaker one). OHCS notes the benchmark can change by population: many special-needs populations support a higher rate, while a 50–60% MFI family project in a competitive market may need a lower one. Not required for qualifying acquisition/rehab projects.
Other states
This summary is for general reference and reflects Oregon Housing and Community Services (OHCS)'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.