A lot happened in affordable housing this month. USDA released new numbers on rural rental funding and signaled a larger round ahead. The Housing Credit reached its 40th anniversary, with new bills in Congress to watch. Closer to home, a new study put Miami-Dade’s affordable rental shortage at 118,000 units. Here is a quick look at each, with links to the full articles.
USDA Reports on Section 515 and Plans a Larger Funding Round for FY 2027
USDA Rural Development released its fiscal year 2026 fact sheet for the Section 515 Rural Rental Housing Program. This year, the agency put $34 million into 26 rural rental properties, covering nearly 900 affordable units. It also invested more than $102 million through the Multifamily Preservation and Revitalization (MPR) Program, which supported 39 properties and nearly 4,400 units. Together, the two programs preserved more than 5,200 units. Looking ahead, USDA expects to open a new Section 515 funding opportunity in FY 2027 with at least $100 million available. Rural owners and sponsors who want to apply should start getting their properties and paperwork ready now.
Read the full release from USDA Rural Development.
The Housing Credit Turns 40
The Low-Income Housing Tax Credit marked its 40th anniversary this month. It was created in the Tax Reform Act of 1986, and its benefits are tied to long-term affordability requirements. Over four decades, LIHTC has created or preserved 4.28 million affordable homes, served nearly 10 million households, and supported 7.2 million jobs. Today it finances about 90% of all affordable rental construction in the U.S. Enterprise Community Partners marked the occasion by closing its 3,000th LIHTC deal, a 241-home development in Seattle.
Read the full announcement from Enterprise Community Partners.
Miami-Dade’s Affordable Rental Shortage Grows to 118,000 Units
A new study from the University of Florida Shimberg Center for Housing Studies and Miami Homes For All found that Miami-Dade County is short 118,000 apartments for households earning up to 80% of area median income. That is up from about 90,000 in the 2024 study, even though the county lost population last year. The report says older apartments that rent below market but carry no income restrictions are disappearing through rent increases, renovations, and demolitions. It also notes that most Live Local Act projects target households at 120% of AMI rather than the lowest incomes, where the need is greatest. The nonprofit’s director says more financing is needed, and points to 9,518 planned affordable units without funding.