Federal Tools for Production and Preservation of Affordable Rental Housing

The federal government has developed a wide array of tools to support the production and preservation of affordable rental housing, ranging from public housing bonds to tax credits and block grants. Over time, programs like the Low-Income Housing Tax Credit (LIHTC), Section 8 project-based assistance, and the HOME Investment Partnerships have evolved to meet shifting housing demands. While HUD, USDA, and Treasury oversee these initiatives, implementation often lies with state and local agencies. The paper provides a detailed account of the history, structure, and ongoing impact of these programs on housing affordability and availability across the U.S.