Bill targets $5B yearly for affordable housing in high-cost cities

What does this do?

HR 9014 would authorize up to $5 billion per year from 2026 through 2035 for three existing federal programs: the HOME Investment Partnerships Program, Community Development Block Grants, and the National Housing Trust Fund. The new funding would be limited to areas designated by the federal government as having unusually high housing costs relative to local incomes. The bill also requires HUD to study how area median income is calculated, with a report due to Congress within two years.

Who does it affect?

Low- and middle-income renters in high-cost cities, local housing agencies, and nonprofit affordable housing developers would be most directly affected. Landlords with tax-subsidized units could also be affected if AMI calculation rules change, since those rules set the maximum rents they are permitted to charge.

Why does it matter?

Authorizing this funding does not guarantee it will be spent, as Congress must still pass separate appropriations bills to release the money. If the AMI study leads to changes in how the figure is calculated, income eligibility cutoffs and maximum rents on subsidized units could shift, altering who qualifies for affordable housing and what they pay.

What does it cost, and who pays?

• Up to $5B per year per program
• Covers three existing programs
• Requires separate appropriations to spend