The U.S. House on June 23, 2026 passed bipartisan affordable housing legislation and sent it to President Donald Trump for signature.
The National Low Income Housing Coalition estimates a shortage of roughly 7.3 million affordable rental homes available to extremely low-income renters as of 2024.
The Low-Income Housing Tax Credit, established in 1986, has financed the construction or rehabilitation of more than 3.7 million housing units, according to HUD data.
Supporters of expanded federal action argue housing costs have outpaced wages, while critics argue local zoning and permitting rules are the primary drivers of high housing prices.
The U.S. Census Bureau reported the national homeownership rate at 65.7 percent in the first quarter of 2024, below the 2004 peak of 69.2 percent.