Housing Trust Funds

Definition

States that have a statewide housing trust fund, 2012.

Description

Establishing a housing trust fund is one way states can help make homeownership affordable for low- and moderate-income families. Housing trust funds use dedicated public monies for a variety of affordable housing solutions, including the construction, rehabilitation and preservation of affordable housing. They can also help families become first-time homeowners, address homelessness, provide emergency repair, and aid in foreclosure prevention.

Although Housing Trust Funds is not a Policy Priority in the current Scorecard, it was in prior years. The 2009 Scorecard Resource Guide and Policy Brief provide more information on strong Housing Trust Fund policies. In 2007 and 2009, CFED also published the following case studies on Housing Trust Funds: 

Oregon’s Campaign (published September 2009)
In spring 2009, the Oregon Housing Alliance celebrated passage of the Housing Opportunity Bill. This victory expanded funding for affordable housing by creating a dedicated funding source for the state’s housing trust fund. This victory had been years in the making – the Housing Alliance was founded in 2004 and launched its legislative effort in 2005. During the 2007 legislative session, a similar bill failed to pass by just three votes. Click here to read more.

Kentucky’s Campaign (published September 2007)
In 1994, after an education campaign on the need for affordable housing, a state Affordable Housing Trust Fund (AHTF) was established in Kentucky with an initial contribution of $400,000 from Kentucky’s then-First Lady, Libby Jones… Thus began a 12-year campaign to find a public, dedicated source of significant revenue for the Kentucky AHTF. Click here to read more.

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Housing Trust Funds

State	Statewide housing trust fund in place?
Alabama	Yes
Alaska	No
Arizona	Yes
Arkansas	Yes
California	Yes
Colorado	Yes
Connecticut	Yes
Delaware	Yes
District of Columbia	Yes
Florida	Yes
Georgia	Yes
Hawaii	Yes
Idaho	Yes
Illinois	Yes
Indiana	Yes
Iowa	Yes
Kansas	Yes
Kentucky	Yes
Louisiana	Yes
Maine	Yes
Maryland	Yes
Massachusetts	Yes
Michigan	Yes
Minnesota	Yes
Mississippi	No
Missouri	Yes
Montana	Yes
Nebraska	Yes
Nevada	Yes
New Hampshire	Yes
New Jersey	Yes
New Mexico	Yes
New York	Yes
North Carolina	Yes
North Dakota	Yes
Ohio	Yes
Oklahoma	Yes
Oregon	Yes
Pennsylvania	Yes
Rhode Island	Yes
South Carolina	Yes
South Dakota	No
Tennessee	Yes
Texas	Yes
Utah	Yes
Vermont	Yes
Virginia	Yes
Washington	Yes
West Virginia	Yes
Wisconsin	Yes
Wyoming	No

Source

Data provided through email correspondence with the Center for Community Change in October 2012. CFED thanks Mary Brooks of the Center for Community Change for her assistance in developing and review this data.