Sponsors (15)
The bill directs significant new, multi-year federal housing funds and adjusts income and AMI rules to expand eligibility in high-cost areas—helping many low-income renters—while concentrating benefits geographically, increasing federal spending, risking longer waitlists and local price effects, and granting HUD substantial discretion in implementation.
Low-income renters and families in high-cost areas would gain greater access to housing assistance because the bill provides $5 billion per year (FY2026–2035) plus higher HUD income limits and more localized AMI rules that expand eligibility and affordability.
Local and state governments in high-cost jurisdictions receive predictable, multi-year federal funding and clearer AMI designation processes, improving planning and implementation of housing and community development projects.
Targeting funds to jurisdictions with a high housing cost adjustment directs resources toward areas with acute affordability problems, focusing limited dollars where they may have the most immediate impact.
Taxpayers face a large increase in federal spending (roughly $15 billion per year, about $150 billion over ten years) that could raise deficits or require offsets and additional taxpayer costs if subsidies expand.
Communities that do not qualify as 'high housing cost'—including many rural and lower-cost areas—would be ineligible for the new funds, leaving unmet housing needs unaddressed in those places.
Raising HUD income limits and expanding eligibility in high-cost areas could increase demand for limited HUD resources, lengthening waitlists and reducing availability for some existing applicants.
Based on analysis of 4 sections of legislative text.
Authorizes $5B/year (FY2026–2035) for HOME, CDBG (sec.106), and the Housing Trust Fund limited to jurisdictions with HUD's high housing cost adjustment and directs HUD to study AMI methods.
Official title: To increase the supply of, and lower rents for, affordable housing and to assess calculations of area median income for purposes of Federal low-income housing assistance, and for other purposes.
Introduced May 22, 2026 by Yvette Diane Clarke · Last progress May 22, 2026
Provides $5 billion per year from fiscal 2026 through 2035 for three existing housing programs (HOME, CDBG under section 106, and the Housing Trust Fund) but limits use of those new funds to jurisdictions where HUD applies a “high housing cost adjustment.” Directs HUD to evaluate and report to Congress within two years on alternative methods and metrics for calculating area median income (AMI), including ZIP code–level approaches and the effects of surrounding counties on New York City AMI calculations.