The agency & primary document
- Allocating agency
- West Virginia Housing Development Fund (WVHDF)
- QAP / guidelines
- https://www.wvhdf.com/programs/low-income-housing-tax-credit-program
- Governing document
- 2025 and 2026 Tax Credit Manual (market-study requirements in the Threshold section) + 2025 and 2026 Allocation Plan
- Methodology
- Agency-specific standalone methodology
Required market study sections
West Virginia uses its own standalone market study methodology rather than the NCHMA Model Content Standards. Own-methodology (pure). WVHDF prescribes its own enumerated market-study content list and Fund-specific forms; no NCHMA reference.
Key West Virginia rules
- Staleness window
- Backup documentation older than 6 months from the application submission date is considered stale and unacceptable (applies to the market study)
- Rent-burden standard
- Demand calculated for households for whom the proposed rents are affordable at 30% of household income (affordability ratio)
West Virginia-specific overlays
- 90%/10% trigger: existing-stock occupancy below 90% or vacancy above 10% (overall or by stratification) must be explained
- Disinterested-party + identity-of-interest certification of the preparer; qualifications stated
- Pipeline: include all proposed / under-construction LIHTC stock in the PMA
- Rent band: for ≤60% AMI units without project-based subsidy, gross tenant rent generally 85%–90% of the IRS Rent Restriction
- One-property-per-PMA: the Fund may reject / wait-list a second property in the same PMA
Required companion documents
- 2025 and 2026 Allocation Plan
- Residential Rental Housing Stock Occupancy Summary (Fund-prescribed form)
- Market Study Contract Rider (recommended)
- WVHDF Form 1040 application
Things analysts miss in West Virginia
- Market-study rules live in the Tax Credit Manual Threshold section, not a separate guideline
- WVHDF does not use the term 'capture rate' — it uses a quantitative demand calculation
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Start a free West Virginia report →Frequently asked questions
Who reviews LIHTC market studies in West Virginia?
West Virginia Housing Development Fund (WVHDF) sets the market study requirements and reviews submissions for West Virginia Low-Income Housing Tax Credit applications.
How current must a West Virginia LIHTC market study be?
Backup documentation older than 6 months from the application submission date is considered stale and unacceptable (applies to the market study)
Does West Virginia follow NCHMA standards?
Own-methodology (pure). WVHDF prescribes its own enumerated market-study content list and Fund-specific forms; no NCHMA reference.
Other states
This summary is for general reference and reflects West Virginia Housing Development Fund (WVHDF)'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.