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 |