Each purchase includes a print edition, a
complimentary PDF version, and a single-user license to access the
HFA Factbook Online, which
includes data on HFA program activity between 2005 and 2022.
PREFACE
For more than 50 years, state Housing Finance Agencies (HFAs) have played a central role in the nation’s affordable housing system, delivering financing to make possible the purchase, development, and rehabilitation of affordable homes and rental apartments for low- and middle-income households. The National Council of State Housing Agencies (NCSHA) is a nonprofit, nonpartisan organization created to advance, through advocacy and education, the efforts of the nation’s state HFAs and their partners to provide affordable housing to those who need it.
NCSHA’s members are the state HFAs; the HFAs of the District of Columbia, New York City, Puerto Rico, and the U.S. Virgin Islands; and the associate agencies that allocate the Low Income Housing Tax Credit (Housing Credit) in the five jurisdictions where an HFA does not. NCSHA’s affiliate members include over 300 profit and nonprofit firms in the affordable housing field.
At the center of HFA activity within the states and NCSHA’s work in Washington are three federally authorized programs: tax-exempt Housing Bonds, the Low Income Housing Tax Credit (Housing Credit), and the HOME Investment Partnerships (HOME) program. NCSHA is the principal advocate in Washington for both Housing Bonds and the Housing Credit and the principal state advocate for HOME.
Using Housing Bonds, the Housing Credit, and HOME, HFAs have designed hundreds of housing programs, including homeownership, rental, and all types of special needs housing. Many NCSHA member agencies also administer other federal housing programs—including Section 8 and homeless assistance—and state housing resources.
HFAs have provided affordable mortgages to more than 3.4 million families to buy their first homes through the single-family Housing Bond program. HFAs have also financed approximately 4.8 million low- and moderate-income rental homes, including more than 3.8 million rental homes using the Housing Credit.
Each year, NCSHA conducts a comprehensive survey of HFA program activity and compiles it in this publication, the HFA Factbook. This information serves several purposes. It supports NCSHA's advocacy within Congress, the Administration, and the numerous federal agencies concerned with housing. It provides hard evidence of HFA program results and successes. And, it gives NCSHA the information necessary to accurately represent and respond to its member needs and press inquiries. The Factbook also allows HFAs to compare their programs and operations to those of other HFAs and to learn from one another. Industry professionals find it an indispensable tool as they work with and provide services to HFAs and the lower-income people they serve.
The 2022 Factbook is divided into the following sections: Administration and Budget, Private Activity Bond Volume Cap Usage, Mortgage Revenue Bonds, Low Income Housing Tax Credit, Multifamily Bonds, and HOME Investment Partnerships. Each section begins with a brief description of the program and an analysis of key program data and trends.
NCSHA would like to acknowledge the commitment, dedication, and efforts of the executive directors and staff of the HFAs and other agencies who contributed the extensive data that made the 2022 Factbook possible.