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Summary: New Treasury Department Data on American Rescue Plan’s Impact on Affordable Housing
- Nearly $63 billion of program funds have been dedicated to housing projects across three American Rescue Plan programs.
- State and Local Fiscal Recovery Fund recipients have budgeted 85% of total resources.
- Total projects have increased by 18% over the first quarter of 2023.
- Over 17,000 units of affordable housing are being supported by these funds.
- Homeowner Assistance Fund has assisted nearly 400,000 homeowners at risk of foreclosure.
- Emergency Rental Assistance program has made more than 12.3 million household payments to assist renting families in need.
Must-Know Points on Expanding Access to Affordable Housing and Keeping Families in their Homes
As the U.S. Department of the Treasury releases new data on the American Rescue Plan’s impact on affordable housing, it’s important to understand the key points and benefits these programs bring to homeowners, renters, and communities across the country. The American Rescue Plan is making significant investments in supporting existing homeowners and renters, as well as helping more Americans maintain housing stability.
According to a Treasury Department fact sheet, nearly $63 billion of funds across the State and Local Fiscal Recovery Funds (SLFRF), Homeowner Assistance Fund (HAF), and Emergency Rental Assistance (ERA) programs have been dedicated to housing projects. This funding is supporting more than 17,000 units of affordable housing, assisting nearly 400,000 homeowners at risk of foreclosure, and making more than 12.3 million household payments to assist renting families in need.
As a Kansas City Realtor, we know the importance of affordable housing and the stability it brings to our communities. We encourage everyone to explore these programs and see how they can benefit your housing situation. If you’re looking to buy or sell a home in Kansas City, we’re here to help you navigate the real estate market and find the perfect property to meet your needs.
In conclusion, the American Rescue Plan is making a significant impact on expanding access to affordable housing and keeping families in their homes. As a professional and dedicated Kansas City Realtor, we’re here to help you understand these programs and guide you through the home buying or selling process. So don’t hesitate to reach out and let us assist you in finding the perfect home or getting the best deal for your property in Kansas City.
Orginal article: Link To Article – provided by Kansas City Realtors
