Home >> Daily Dose >> HUD Issues 19,000-Plus Housing Vouchers
Print This Post Print This Post

HUD Issues 19,000-Plus Housing Vouchers

U.S. Department of Housing and Urban Development (HUD) Secretary Marcia L. Fudge has announced that HUD has issued more than 19,000 new Housing Choice Vouchers (HCVs) to nearly 2,000 Public Housing Agencies (PHAs) nationwide, marking the most expansive allocation of flexible new rental assistance in nearly 20 years.

“To help people who are dealing with the housing affordability crisis, including people experiencing homelessness, we are awarding more than 19,000 new Housing Choice Vouchers to housing agencies throughout the country,” said HUD Secretary Fudge. “HUD is committed to ensuring people have access to the resources and tools they need to get a decent and safe home. That is what everyone in this country deserves. Every eligible household should have access to a voucher. No one should have to sleep on the street or in their car because they can’t afford rent.”

The vouchers are among the nearly 100,000 new HCVs provided by the American Rescue Plan and Fiscal Year 2022 budget, and the total award amount is $214,519,250. Funding for these vouchers was included in the FY 2022 Appropriations Act and was based on the President’s FY 2022 budget request.

Click here for a list of PHAs awarded HCVs.

During a recent visit to Falls Church, Virginia, HUD Secretary Fudge spoke with residents who previously secured affordable housing with HCVs about their experiences with the program, and the importance of the new HCV awards and steps HUD is taking to make it easier for households to use their vouchers amid rising rents. Secretary Fudge was joined in Falls Church by Congressman Don Beyer and Fairfax County Redevelopment and Housing Authority Executive Director Thomas Fleetwood.

HUD Secretary Marcia L. Fudge announces new Housing Choice Vouchers in Falls Church, Virginia, joined by Congressman Don Beyer, Fairfax County Redevelopment and Housing Authority Executive Director Thomas Fleetwood, and residents who previously secured affordable housing with Vouchers

“The Biden-Harris Administration is leading a historic expansion of housing vouchers,” said HUD Secretary Fudge. “With the new Housing Choice Vouchers HUD is announcing today, along with steps HUD is taking to make it easier for households to use vouchers, families across the country will have greater access to safe, stable, and affordable housing and the opportunities that come with it.”

The 2023 Fair Market Rents (FMRs), which HUD published on September 1, and go into effect October 1, will make it easier for families with housing vouchers–including the most recent HCVs announced and other vouchers created under the Biden-Harris Administration–to use their vouchers to access affordable housing. The new FMR levels will enable the voucher program to keep pace with rent increases in the private market.

The Biden-Harris Administration has made it a primary goal to increase the size of the nation’s housing voucher program. In addition to the vouchers being awarded today, HUD awarded nearly 70,000 new Emergency Housing Vouchers (EHVs) through the American Rescue Plan for people at risk of or experiencing homelessness or fleeing domestic violence. More than 33,000 households are already using EHVs to rent affordable homes, and other 36,000 households with EHVs are actively searching for housing. The new HCVs will have similar flexibilities to the EHVs.

The President’s Fiscal Year 2023 HUD Budget request for an additional 200,000 new housing vouchers is about 10 times the number of vouchers being awarded today. This would be the largest one-year increase in vouchers since the program was authorized in 1974 and would support affordable housing and provide greater access to areas of opportunity.

About Author: Eric C. Peck

Eric C. Peck has 20-plus years’ experience covering the mortgage industry, he most recently served as Editor-in-Chief for The Mortgage Press and National Mortgage Professional Magazine. Peck graduated from the New York Institute of Technology where he received his B.A. in Communication Arts/Media. After graduating, he began his professional career with Videography Magazine before landing in the mortgage space. Peck has edited three published books and has served as Copy Editor for Entrepreneur.com.
x

Check Also

Plan & Prevail: How the Industry Can Prepare for an Uncertain Future

Though the housing industry may not be able to pinpoint the next widescale impactful event, developing a well-grounded plan can help navigate it, mitigate risk, and get homeowners back on track.