HUD Allocates $382 Million To Help States Produce Affordable Housing

HUD Allocates $382 Million To Help States Produce Affordable Housing

The U.S. Department of Housing and Urban Development (HUD) allocated $382 million through the nation’s Housing Trust Fund (see list of state allocations below). The Housing Trust Fund (HTF) is an affordable housing production program that complements existing Federal, state, and local efforts to increase and preserve the supply of decent, safe, and sanitary affordable housing for extremely low- and very low-income households, including families experiencing homelessness.

“We’re proud to invest in states to create more affordable housing,” said HUD Secretary Marica L. Fudge. “The Biden-Harris Administration is committed to improving the nation’s housing affordability crisis and the Housing Trust Fund provides communities resources they need to produce more safe, sustainable, and affordable housing.”

HTF is a formula-based program for States and U.S. Territories. By law, each state is allocated a minimum of $3 million. State affordable housing planners will use these funds for the following eligible activities:

  • Real property acquisition
  • Site improvements and development hard costs
  • Related soft costs
  • Demolition
  • Financing costs
  • Relocation assistance
  • Operating cost assistance for rental housing (up to 30% of each grant)
  • Reasonable administrative and planning costs.

The Housing Trust Fund is being capitalized through contributions made by Fannie Mae and Freddie Mac. In December 2014, the Federal Housing Finance Agency (FHFA) directed these Government Sponsored Enterprises (GSEs) to begin setting aside and allocating funds to the Housing Trust Fund. The Housing Trust Fund helps to strengthen and broaden the Federal housing safety net for people in need by increasing production of, and access to, affordable housing for the nation’s most vulnerable populations. One hundred percent of funds must be used for extremely low-income families. This targeting ensures the priority of this program is helping those with the greatest needs.

FY 2023 Housing Trust Fund Formula Allocations
Name ST FY23 GA
State of Alabama AL $3,468,012
State of Alaska AK $3,066,413
State of Arizona AZ $6,176,374
State of Arkansas AR $3,000,537
State of California CA $62,249,056
State of Colorado CO $5,587,889
State of Connecticut CT $4,510,425
State of Delaware DE $3,066,413
District of Columbia DC $3,066,413
State of Florida FL $18,860,873
State of Georgia GA $9,289,520
State of Hawaii HI $3,066,413
State of Idaho ID $3,066,413
State of Illinois IL $14,528,244
State of Indiana IN $5,391,554
State of Iowa IA $3,066,414
State of Kansas KS $3,066,414
Commonwealth of Kentucky KY $3,515,069
State of Louisiana LA $4,515,321
State of Maine ME $3,066,413
State of Maryland MD $5,428,249
Commonwealth of Massachusetts MA $8,664,498
State of Michigan MI $8,567,551
State of Minnesota MN $4,881,843
State of Mississippi MS $3,000,537
State of Missouri MO $5,346,518
State of Montana MT $3,066,413
State of Nebraska NE $3,066,413
State of Nevada NV $3,992,365
State of New Hampshire NH $3,066,413
State of New Jersey NJ $12,237,784
State of New Mexico NM $3,066,413
State of New York NY $34,734,755
State of North Carolina NC $9,349,939
State of North Dakota ND $3,066,413
State of Ohio OH $10,420,277
State of Oklahoma OK $3,066,414
State of Oregon OR $5,468,942
Commonwealth of Pennsylvania PA $12,081,840
State of Rhode Island RI $3,066,413
State of South Carolina SC $4,254,878
State of South Dakota SD $3,000,537
State of Tennessee TN $5,290,023
State of Texas TX $22,394,219
State of Utah UT $3,066,413
State of Vermont VT $3,066,413
Commonwealth of Virginia VA $7,563,732
State of Washington WA $8,377,580
State of West Virginia WV $3,066,413
State of Wisconsin WI $5,527,246
State of Wyoming WY $3,066,413
Guam GU $157,107
Northern Mariana Islands MP $76,533
Commonwealth of Puerto Rico PR $2,037,322
Virgin Islands VI $152,727