Recent News
A group of 103 members of the House of Representatives, led by Rep. Suzan DelBene, D-Wash., and Rep. Jackie Walorski, R-Ind., today published a letter asking House leadership to prioritize affordable housing measures in the next COVID-19 relief legislation.
Novogradac this week adjusted downward its estimate of national median income for 2021 after the Congressional Budget Office (CBO) released its midyear estimate of consumer price index (CPI), one of the components the U.S. Department of Housing and Urban Development (HUD) uses to calculate income limits for the low-income housing tax credit (LIHTC) and HUD programs. Based on this update, Novogradac adjusted its estimate of national median income for 2021 to $79,200, an 0.89 percent increase over the 2020 national median income.
The Federal Housing Finance Agency (FHFA) today released a proposed rule with the same housing goals for 2021 for Fannie Mae and Freddie Mac as for 2018-2020. Due to the economic uncertainty related to the COVID-19 pandemic, the FHFA proposed goals for 2021 only, rather than the normal three-year period. The FHFA proposes to purchase mortgages or multifamily properties for properties totaling 315,000 low-income units.
Forty-four states and 151 local jurisdictions have created rental assistance programs in response to the COVID-19 pandemic, but much more assistance is needed, according to a report issued today by the National Low-Income Housing Coalition.
In no state, metropolitan area or county in the United States can workers earning minimum wage–whether federal or prevailing state or local minimum wage–afford a modest two-bedroom rental home at fair market rent by working a standard 40-hour week, according to Out of Reach 2020, an annual report released today by the National Low-Income Housing Coalition.
Recent Updates
August 6, 2020 1:48pm
