HUD Announces $5 Billion in HOME Funding to Increase Affordable Housing To Address Homelessness
Today, HUD announced the allocation of nearly $5 billion in American Rescue Plan funds to help communities across the country create affordable housing and services for people experiencing or at risk of experiencing homelessness.
The $4.925 billion in HOME-ARP funding gives states the flexibility to best meet the needs of people experiencing or at risk of experiencing homelessness, including through development of affordable housing, tenant-based rental assistance, supportive services, and acquisition and development of non-congregate shelter units. Funds must be spent by 2030.
The nearly $5 billion in HOME-ARP funding is the first of two homelessness-related funding opportunities from the American Rescue Plan that HUD will release. In the coming weeks, HUD will announce the allocation of funding for emergency vouchers for people experiencing and at-risk of homelessness.
For questions about the HOME program, contact your HUD CPD Field Office.