About the Program
The federally-funded HOME Investment Partnerships Program is authorized under Title II of the Cranston-Gonzalez National Affordable Housing Act, as amended. The HOME Program final rule is available electronically.
HOME provides formula grants to states and localities that communities often use in partnership with local nonprofit groups to fund a wide range of activities that build, buy, and/or rehabilitate affordable housing for rent or homeownership or provide direct rental assistance to low-income people.
Purpose
HOME is the largest federal block grant to state and local governments, designed exclusively to create affordable housing for low-income households. Each year it allocates approximately $2 billion among the 50 states and hundreds of localities nationwide. The program was designed to reinforce several important values and principles of community development.
Benefits
- HOME's flexibility empowers people and communities to design and implement strategies tailored to their own needs and priorities.
- HOME's emphasis on consolidated planning expands and strengthens partnerships among all levels of government and the private sector in the development of affordable housing.
- HOME's technical assistance activities and set-aside for qualified community-based nonprofit housing groups builds the capacity for these partners.
- HOME's requirement that participating jurisdictions (PJs) match $0.25 of every dollar in program funds mobilizes community resources in support of affordable housing.
Additional Resources