Types of Units (Homeowner, Home Buyer, or Rental)

Between the beginning of the HOME program in FY1992 and July 31, 2014, nearly 1.2 million units of affordable housing were constructed, rehabilitated, or acquired using HOME funding, and over 290,000 families were assisted through tenant-based rental assistance (TBRA). Together, this amounts to nearly 1.5 million completed units and TBRA-assisted households that have benefitted from HOME funds since the program’s inception.

Units assisted with HOME funds can be homeowner units (that is, existing owner-occupied housing that is rehabilitated with HOME funds), home buyer units (owner-occupied housing where HOME funds are used to help prospective home buyers acquire, rehabilitate, or construct the home), or rental units. Of the physical units that have used HOME funds since the program’s inception (that is, excluding households that received TBRA), home buyer units represent the largest share, followed by rental units. As shown in Figure 2, 42% of all completed units to date are home buyer units (about 490,000 units), 39% are rental units (about 460,000 units), and 19% are homeowner units (about 230,000 units).

Figure 2 .Completed HOME Units by Unit Type

Through July 2014



Source: Figure created by CRS based on data in HUD’s July 31, 2014 HOME National Production Report.

Note: Rental units only include physical units, and do not include households receiving TBRA.

In FY2013 alone, HOME funds contributed to a total of about 21,000 completed housing units and tenant-based rental assistance for nearly 13,000 households.

In addition to statistics on completed units, HUD also reports how much HOME funding was used for each unit type. Since the program began, over $28 billion of HOME funding has been spent on units that were completed as of July 31, 2014.As shown in Figure 3, nearly $16 billion (55%) of HOME funding that has been spent on completed units was used for rental units or TBRA, while $8 billion (27%) was used for home buyer units and $5 billion (18%) for homeowner units. Of the amounts spent on rental housing since the program began, about 95% (nearly $15 billion) has been used to develop rental housing units, while the remaining 5% (less than $1 billion) has been used for TBRA.

Figure 3. HOME Funds Spent by Unit Type Through July 2014 ($ in billions)

HOME funds spent


Source: Figure created by CRS based on data in HUD’s July 31, 2014 HOME National Production Report.

Note: Rental units include households receiving TBRA.

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