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HUD’s Housing Trust Fund Program Spends $232,000 To Create An Affordable Housing Unit

Nearly one housing unit is using around $232,000 funds to create one-bedroom apartments. 

September 12, 2023

The Department of Housing and Urban Development (HUD) designed to build and preserve affordable housing spent $232,000 for one-bedroom apartments. 

According to a new report, the Department of Housing and Urban Development’s Housing Trust Fund Program needs better oversight. As per the report, the grantees of the Housing Trust Fund had developed 2186 rental units for people with low incomes. The rest of the Housing Trust Fund Program will go to another 519 projects with an estimate of 6646 units for low-income households. 

The report revealed that for the 12 chosen grantees, the Housing Trust Fund contributed roughly 10% of the total funds for 70 finalized projects. The primary funding source was equity from Low-Income Housing Tax Credits investors.

Around 41% of the units created via this program were one-bedroom units and 16% were smaller efficiency units with a single room.

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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.

Rowland Brett. “HUD program spends average of $232,000 to create a single affordable housing unit”. The Center Square, August 9, 2023, 

HUD program spends average of $232,000 to create single affordable housing unit | National | thecentersquare.com

Last Updated: September 20, 2021