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Federally Subsidized Affordable Housing
A nearly four-decade partnership between the federal government and the private sector has led to the creation of nearly two million homes affordable to economically disadvantaged households, a large portion of which include elderly or disabled individuals. These homes provide opportunities for low-income families to live in thriving communities close to health services, work, education, and affordable transportation.
From 1965 to the mid-1980s, the federal government provided critical financial incentives, including below-market interest rates (Section 236), interest rate subsidies (Section 221(d)(3) Below Market Interest Rate-BMIR) and rent subsidies (Section 8), in exchange for a commitment from property owners to keep the apartments affordable to low income households. The largest of these programs, the project-based Section 8 rental assistance program, provides affordable apartment homes for more than 1.2 million households.
The federal government has an essential role to play as a partner to owners, residents, and state and local leaders as they work to preserve critical housing resources and create sustainable communities. The National Housing Trust actively engages with federal policymakers to ensure that appropriate regulatory and legislative action is taken to protect and improve existing affordable homes.