CFED Assets & Opportunity Scorecard
|Housing Trust Funds|
States that Have a Housing Trust Fund
Increased demand in the rental market in recent years has made it more difficult for those with modest incomes to afford rental housing. For those who are not ready or able to buy a home, access to affordable, high quality housing is essential. Housing trust funds help to address this issue by using dedicated public monies for a variety of affordable housing solutions, including the construction, rehabilitation and preservation of affordable housing. They can also help families become first-time homeowners, address homelessness, provide emergency repair, and aid in foreclosure prevention.
What States Can Do
States can help make rental housing and homeownership affordable for low- and moderate-income families by establishing a housing trust fund. Housing trust funds shift funding allocated toward housing to support affordable housing preservation and development.
Strength of State Policies: Housing Trust Funds
|Does the state have a statewide housing trust fund in place? 1|
|State||Housing trust fund?||Revenue commitments?|
|District of Columbia||Yes|
Notes on the Data
1. Center for Community Change, "The Status of State Housing Trust Funds: A Toolkit for Advocates," (Frazier Park, CA: Center for Community Change, 2013). Updated data provided through conversations in June 2013 with Mary Brooks from the Center for Community Change.
What States Have Done
Nearly every state—47 states and the District of Columbia—has a statewide housing trust fund (HTF) authorized in statute. However, many have no dedicated funding sources, and in some cases, HTFs have been raided to cover shortfalls elsewhere in a state’s budget. In order to ensure that the supply of affordable housing for low- and moderate-income families remains intact, states must maintain ongoing revenue commitments for their housing trust funds.
Oregon’s Campaign (published September 2009)
In spring 2009, the Oregon Housing Alliance celebrated passage of the Housing Opportunity Bill. This victory expanded funding for affordable housing by creating a dedicated funding source for the state’s housing trust fund. This victory had been years in the making—the Housing Alliance was founded in 2004 and launched its legislative effort in 2005. During the 2007 legislative session, a similar bill failed to pass by just three votes. Click here to read more.
Kentucky’s Campaign (published September 2007)
In 1994, after an education campaign on the need for aﬀordable housing, a state Aﬀordable Housing Trust Fund (AHTF) was established in Kentucky with an initial contribution of $400,000 from Kentucky’s then-First Lady, Libby Jones… Thus began a 12-year campaign to ﬁnd a public, dedicated source of signiﬁcant revenue for the Kentucky AHTF. Click here to read more.
Organizations and Experts:
Guides, Briefs and Papers:
CFED thanks Mary Brooks from the Center for Community Change for her input and expertise on this policy issue.