NLIHC released a consolidated list of estimated national Housing Trust Fund (HTF) allocations by state and U.S. territory for 2022. The new resource is based on HUD’s May 17 announcement that nearly $749 million in national HTF dollars have been allocated to states, the District of Columbia, Puerto Rico, and the U.S. territories (see Memo, 5/23). The new resource can be downloaded from NLIHC’s National Housing Trust Fund Allocations webpage.
Fannie Mae (Fannie) and Freddie Mac (Freddie) collected $740 million in 2021 for the HTF to allocate in 2022 (see Memo, 3/7), though in a media release, HUD indicated that only $738 million has been allocated. However, two factors boost the actual amount allocated to nearly $749 million. First, funds recaptured from some states that missed the statute’s requirement to commit funds within two years are being reprogrammed and added to the total transferred from Fannie and Freddie for 2022. Second, due to a rescission provision, each year a percentage of the amount received from Fannie and Freddie must be removed from the amount transferred to HUD, but the amount rescinded from the previous year is restored the following year.
Created through the “Housing and Economic Recovery Act of 2008” (HERA) and overseen by HUD’s Office of Affordable Housing Programs (OAHP) in the Office of Community Planning and Development (CPD), the HTF allocates funding annually to states to build, preserve, rehabilitate, and operate rental housing for extremely low-income households (ELI) – those with incomes less than 30% of area median income (AMI) or less than the federal poverty line. Nationally, there is a shortage of 7 million rental homes affordable and available to people with the lowest incomes.
View the 2022 HTF allocations by state and territory at: bit.ly/3x8lH6y