AGENCY FINANCIAL REPORT FY 2013: Section I

AGENCY PRIORITY GOAL: PRESERVE AFFORDABLE RENTAL HOUSING

 GOAL STATEMENT

 

Between October 1, 2011 and September 30, 2013, one of HUD’s priority goals was to preserve affordable rental housing by continuing to serve 5.4 million total families and serve an additional 61,000 families through HUD’s affordable rental housing programs.

 

OVERVIEW

 

In an era when more than one-third of all American families rent their homes, we face a housing market that does not create and sustain a sufficient supply of affordable rental homes, especially for low-income households. In many communities, affordable rental housing does not exist without public support.

 

Affordability problems have been exacerbated by the recession and the increasing demand for rental housing generated by the foreclosure crisis. According to the 2011 Worst Case Housing Needs report published in February 2013, HUD found the number of renters with worst case housing needs grew from 5.9 million in 2007, to 7.1 million in 2009, and 8.5 million in 2011, representing an increase of 44 percent over these four years. Individuals and families were considered to have worst case housing needs if they were very low-income renters with incomes below 50 percent of the Area Median Income (AMI), who do not receive government assistance, and who either paid more than one-half of their income for rent, lived in severely inadequate conditions, or faced both of these challenges. At the same time, only about one in four very low-income families eligible for HUD/Federal rental assistance programs receives assistance. Federal housing programs have been financially unable to keep up with this demand over the years to help offset the limitations of the private rental market in providing housing that all families can afford. Given the current fiscal climate, it is critical that HUD maximize existing resources to maintain our current support to families and seek opportunities to expand that support where possible.
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STRATEGY

 

Preserve affordable rental housing and serve additional families through HUD’s affordable rental housing programs.

 

All of HUD’s programs that provide affordable rental assistance are integral to achieving the goal, including programs administered by the Offices of Public and Indian Housing (PIH), Housing Choice Vouchers (HCV), the Indian Housing Block Grant and Indian Community Development Block Grant (CDBG), HOPE VI and mixed finance transactions; Housing (privately-owned housing in multifamily programs, including 202, 236, Below Market Interest Rate (BMIR), Section 8, Rent Supplement, Rental Assistance Program (RAP), 202 and 811 Project Rental Assistance Contract (PRAC)); Community Planning and Development (CPD) (HOME Investment Partnerships Program (including the Tax Credit Assistance Program [TCAP]) and Tenant-Based Rental Assistance (TBRA), Housing Opportunities for Persons with AIDS (HOPWA), McKinney-Vento homeless programs, a portion of the Neighborhood Stabilization Program, and CDBG-Disaster Recovery (CDBG-DR)). In addition, FHA Multifamily mortgage insurance supports the preservation of affordable housing when used in conjunction with Low Income Housing Tax Credits (LIHTC), tax-exempt bonds, and other state/local resources. Because of the cross-cutting nature of the goal, the efforts of the responsible program offices will be coordinated centrally by the Office of the Secretary.

MEASURING OUR PROGRESS

To track our progress towards this agency priority goal, HUD has tracked the following suite of performance indicators. Wherever available, historical information has been included.

  • TBRA occupied rental units
    This indicator tracks the number of occupied rental units within the HCV program, including tenant-based and project-based vouchers.
     
  • Public Housing occupied rental units
    This indicator tracks the number of occupied rental units within the Public Housing stock.
     
  • Office of Native American Programs (ONAP) occupied rental units
    This indicator tracks the number of rental units in the ONAP housing stock.
     
  • Multifamily Housing (MFH) occupied rental units
    This indicator tracks the number of MFH occupied rental units, including Section 8 Project-Based Rental Assistance, Sections 202 and 811, legacy housing programs like the Rental Assistance Program (RAP) and Rent Supplement properties, and units converted under the Rental Assistance Demonstration Program. Also included are some tax credit/LIHTC financed units, which are tracked by the Office of Policy Development and Research.
     
  • Community Planning and Development (CPD) occupied rental units
    This indicator tracks the number of occupied rental units within CPD programs, including HOME, HOME TBRA, the Program TCAP, CDBG-DR, McKinney Supportive Housing, the Neighborhood Stabilization Program (NSP), and Housing Opportunities for Persons with AIDS (HOPWA).
     
  • Additional families housed in affordable rental housing
    This indicator tracks the total number of households served since the beginning of the performance period, an accumulation of the indicators above. Two additional programs (Mod Rehab and Mainstream Vouchers) are also included in this total.

    Additional Familes Housed in Affordable Rental Housing
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HUD wins 7th consecutive CEAR award.

FY 2013 Agency Financial Report
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