US Federal Housing Initiative Doubles Investment to $4B for Rural, Underserved Communities

Significant efforts are underway across the United States to expand affordable housing through various federal, state, and local initiatives. President Trump's One Big Beautiful Bill has doubled annual investments in affordable housing, particularly targeting rural and underserved communities with $4 billion allocated to Low Income Housing Tax Credit properties. At the local level, Pinellas County approved $1.38 million to support Independence Place, a 20-unit complex for adults with intellectual or developmental disabilities, funded partially by pandemic-era ARPA funds and state grants. Indiana Senator Jim Banks introduced the bipartisan RESIDE Act to repurpose abandoned structures into housing, supported by local mayors as a strategy to address blight and workforce housing shortages. Meanwhile, the State Housing Company in Ghana is partnering with local and international firms to finance and expedite stalled affordable housing projects, ensuring smooth property acquisitions. In Massachusetts, the Healey-Driscoll Administration approved $182 million in credits and subsidies for 21 developments, including nearly 200 new apartments for low- and moderate-income residents in Easthampton, Hadley, and Holyoke, with construction expected to begin in 2026.