Biden administration wants to build 500K starter homes to fix America’s affordable housing crisis
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President Biden supported two key bills in 2023 that would help to ease the housing affordability crisis:
The Affordable Housing Credit Improvement Act, which would set rents at less than 24% of the median income in the local area — increasing the number of households with access to affordable rents by 1.2 million over the next decade.
The Neighborhood Homes Investment Act, laid out in his 2023 Budget, which would promote homeownership for an additional 500,000 households while increasing neighborhood revitalization investments.
The administration also launched a Housing Supply Action Plan in July to address land-use and zoning barriers that limit affordable housing development.