The LIHTC Program is the primary federal housing program designed to create rental housing that is affordable to families and seniors with low and moderate income. Under the program, private investors in affordable rental housing receive a tax credit as an incentive for investment. The program serves families and seniors with incomes up to 60 percent of the area median. In 2014, 60 percent of the area median income was $46,500 for a family of four. The program produces over 100,000 apartments every year nationally and approximately 2,000 per year across Virginia.