Market Analysis

Primary Market Area (PMA) Delineation

Define the PMA boundary using commuting flows, barriers, school districts, and transit — meeting NH&RA / Novogradac industry standards for LIHTC market studies. Click the map to place a site, then select a delineation method and run the analysis.

Site Score

—

Overall PMA Score (0–100)

Relative indicator only — not a CHFA threshold

Select a site to begin

— ACS tracts in buffer

Dimension Scores

Place a site marker to see dimension scores.

Risk Flags

No flags computed yet.

Data Coverage

Run analysis to see data coverage.

LIHTC Supply in Buffer

—

LIHTC projects

HUD LIHTC DB

—

Existing LIHTC units

HUD LIHTC DB

—

Capture rate (existing)

HUD · ACS 2024

—

Renter households

ACS 2024

—

In Prop 123 jurisdictions

DOLA Prop 123

Capture-rate Simulator

Enter proposed unit count and AMI mix to simulate capture rate (CHFA-style).

Total proposed units

Units @ 30% AMI

Units @ 40% AMI

Units @ 50% AMI

Units @ 60% AMI

Units @ 80% AMI

Place a site to run simulator.

Scenario Analysis

What-if modeling: compare score outcomes for different unit counts.

Full Scenario Builder →

Run analysis to compare scenarios.

Peer Benchmarking

Compare this site to ~50 known Colorado LIHTC projects.

Run analysis to see benchmarking.

Competitive Pipeline

LIHTC projects in buffer classified by estimated development stage.

Run analysis to see pipeline.

Export

CHFA PMA Requirements & Checklist

A Primary Market Area (PMA) is the census-tract-based geography from which a proposed development is expected to draw most of its tenants. CHFA requires PMA approval before a market study begins for any LIHTC application in Colorado.

CHFA PMA Requirements Summary

Per CHFA's Qualified Allocation Plan and Market Study Guide:

Census-tract geography — The PMA must be defined as specific census tracts most likely to supply tenants to the proposed project.
CHFA pre-approval required — A CHFA-approved market analyst must consult with CHFA and obtain PMA boundary approval before the market study begins.
Engagement letter — Must include the proposed PMA with a detailed census tract list.
Market study must analyze:
- Income-qualified demand and capture rates (should be as low as possible)
- Evidence the project will not negatively impact existing LIHTC properties in the PMA
- Achievable rents and realistic absorption projections

Note: This tool assists with preliminary PMA research and does not replace formal CHFA PMA approval or review by a CHFA-approved market analyst.

PMA Definition Workflow

1

Site Selection

Identify proposed development site and approximate service area.

2

Engage Analyst

Retain a CHFA-approved market analyst to propose PMA census tracts.

3

CHFA PMA Approval

Analyst submits proposed census tract list to CHFA for review and approval.

4

Market Study

Analyst conducts full study within the approved PMA: demand, capture rate, competitive impact, rents, absorption.

5

Application

Submit LIHTC application with approved PMA, market study, and engagement letter.

This tool automates: tract selection by radius or drive-time, demographic scoring, competitive LIHTC overlay, and capture rate estimation. It does not replace CHFA-approved analyst review or formal CHFA PMA approval.

CHFA PMA Checklist

Track your LIHTC application PMA progress. Check items as you complete them.

Census tracts selected and justified Define the specific census tracts that form the PMA boundary.
CHFA-approved market analyst engaged Retain an analyst from the CHFA-approved list before beginning the study.
PMA boundary approved by CHFA Analyst submits census tract list to CHFA; receive written approval before study begins.
Income-qualified demand analysis complete Document households at each AMI tier within the PMA.
Capture rate calculated Capture rate = proposed units ÷ income-qualified renter households. Should be as low as possible.
Competitive property impact assessed Evaluate existing LIHTC properties in the PMA — confirm project will not cause material vacancy.
Achievable rent analysis complete Document market-achievable rents relative to AMI-restricted rent limits.
Absorption projection documented Provide realistic lease-up timeline based on comparable projects in the market.

0 of 8 complete