What is an affordable housing program?


Quick Answer

The Affordable Housing Program is a program run by the Department of Housing and Urban Development that helps families who pay more than 30 percent of their income for housing, says the Department of Housing and Urban Development. There are a number of different funding and grant opportunities available.

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Full Answer

As of 2015, there are a number of programs available through the Affordable Housing Program, including help for individuals for renting or buying a home, as well as funding for those who already own a home, according to the Department of Housing and Urban Development. There are also a number of resources available for homeless persons, including veterans, the chronically homeless and young individuals, as well as help for people who are victims of foreclosure or Hurricane Sandy.

The Office of Affordable Housing Programs, or OAHP, administers a number of different grant programs. This includes the HOME Investments Partnerships Program, or HOME, which provides grants to local governments and states to fund activities like building, buying and rehabilitating housing, as well as providing direct rental assistance to low-income families. The Self-Help Home Ownership Opportunity Program, or SHOP, provides money for nonprofit entities to acquire home sites for low-income families and improve or develop or improve existing infrastructure for volunteer-based home-ownership programs, says the Department of Housing and Urban Development.

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