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HUD To Help States Produce Affordable Housing Allocates $382 Million

The allocations for the housing trust fund will increase and preserve the supply of affordable housing for low-income households.

August 4, 2023

Washington- Nearly $382 Million in funds were given to the Nation’s Housing Trust Fund by the Department of Housing and Urban Development (HUD). The Housing Trust Fund (HTF) is an affordable housing production program to increase the supply of affordable housing for low-income households including families experiencing homelessness.

HUD’s Secretary Marcia L. Fudge said, “We’re proud to invest in states to create more affordable housing. 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.”

The Housing Trust Fund Program is meant for the states and U.S. Territories where each state is given $3 Million. The allocated fund will be used for eligible activities such as real property acquisitions, site improvements, related soft costs, demolition, financing costs, relocation assistance, operating cost assistance, and reasonable administrative and planning costs.

Fannie Mae and Freddie Mac made contributions to the Housing Trust Fund (HTF). The Housing Trust Fund strengthens and broadens the federal housing safety net for needy people by increasing the production of affordable housing for the vulnerable populations of the nation. The funds will be used to serve only the low-income people and families with the greatest needs.

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The content provided in this article draws inspiration and includes quotes from various reputable sources, including news articles, government data, and interviews. Affordable Housing 411 strives to ensure accuracy and credibility, but the information presented may be based on some external sources. We encourage readers to refer to the referenced materials for more in-depth insights and verification.

Department of Housing and Urban Development. “HUD Allocates $382 Million To Help States Produce Affordable Housing”. HUD, May 3, 2023,
HUD Allocates $382 Million to Help States Produce Affordable Housing | / U.S. Department of Housing and Urban Development (HUD)

Last Updated: September 20, 2021