Minnesota Housing posted an updated Authorized Market Analysts List to the Housing Tax Credits webpage.
Internal Revenue Code section 42(m)(1)(A)(iii) requires that all HTC projects conduct a comprehensive market study. The study must examine the housing needs of low-income individuals in the area to be served by a developer’s HTC project and must be conducted by a disinterested party, at the developer’s expense, who is approved by the housing credit agency.
HTC projects must select a market analyst authorized by Minnesota Housing to conduct the market study before HTC allocation. Market analysts must be authorized by Minnesota Housing before HTC projects submit market studies. Refer to the Market Study Guidelines for more information.
Projects selected through the 2025 Multifamily Consolidated RFP/2026 HTC Round 1 are required to submit a market study by the dates within their selection letter:
- 9% HTCs: April 14, 2026
- Deferred with 4% HTC financial structure: Submit 60 days prior to bond issuance. Submit with the 42M application.
Projects applying for 2026 4% HTC Only are required to submit the Market Study with the 42M application.
Minnesota Housing is not currently accepting applications or renewals for the Authorized Market Analysts List. For market analysts who are not currently authorized and want to be considered for authorization to submit market studies for projects that are selected for the 2026 Multifamily Consolidated RFP/2027 HTC Funding Rounds, the application period will open in July 2026. For more information, review the Additional HTC Application Reference Materials section of the Housing Tax Credits webpage or email the Housing Tax Credit team at [email protected]
