FHA: Help is on the way to ease affordable housing crisis

Starting April 1, multifamily property developers will pay lower insurance rates to rehab or build housing for low- and moderate-income Americans
  • Last week the Federal Housing Administration (FHA) announced a multifamily insurance rate reduction to incentivize the development and renovation of quality affordable housing.
  • The decision comes in response to housing industry reports criticizing the lack of affordable units combined with rising rent prices across the country.
  • The rate reductions are expected to spur the rehabilitation of 12,000 units nationally and benefit 40,000 families over the next three years.

Responding to recent housing industry analyst reports that criticized a decline in the construction of affordable, quality rental housing across the country, the Federal Housing Administration (FHA) last week announced a multifamily insurance rate reduction.