The Department of Housing and Urban Development’s increased budget for Fiscal Year 2022 will provide 25,000 more Section 8 Housing Choice Vouchers for low-income households. This is one of the largest funding increases in the rental assistance program’s history.
President Biden and Congressional leaders agreed to spending amounts for FY 22 government operations last week. HUD saw slight funding increases for almost all affordable housing programs.
HUD will receive a total of $53.7 billion in FY 22. This is $4 billion more than in FY 21. Although this is an improvement over last year, it is less than what President Biden requested, and the House of Representatives approved.
Funding for Housing Choice Vouchers will be $27.4 billion. This is enough to renew all current vouchers, and fund 25,000 new vouchers. This is well short of the House’ proposed funding for 125,000 new vouchers.
Here are some of the other affordable housing programs that will get more funding in 2022:
- Section 8 Project-Based Rental Assistance (PBRA): $13.9 billion
- This is enough to renew all current rental assistance contracts.
- Public Housing Capital Fund: $3.4 billion
- This is an increase of $446 million over last year.
- This pays for major repairs and upgrades to Public Housing, like new roofs and boilers.
- Public Housing Operating Fund: $5.1 billion
- This is an increase of $200 million over last year.
- This pays for the management and daily maintenance of Public Housing.
- Programs addressing homelessness: $3.2 billion
- This is an increase of $213 million over last year.
- These funds provide shelter and services for those who are homeless or at risk of homelessness.
- Programs that serve renters with special needs all received increases. These include:
- Section 202 Supportive Housing for the Elderly
- Section 811 Supportive Housing for Persons with Disabilities
- Housing Opportunities for Persons with AIDS
- The HOME Investment Partnerships Program will see an increase of $150 million over last year.
- HOME program funds are flexible, and support both the construction of affordable housing and rental assistance.
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